Hamburg, Germany

Law and Economics

Master's
Language: EnglishStudies in English
Subject area: law
Qualification: Master
Kind of studies: full-time studies
University website: www.uni-hamburg.de
Economics
Economics () is the social science that studies the production, distribution, and consumption of goods and services.
Law
Law is a system of rules that are created and enforced through social or governmental institutions to regulate behavior. Law is a system that regulates and ensures that individuals or a community adhere to the will of the state. State-enforced laws can be made by a collective legislature or by a single legislator, resulting in statutes, by the executive through decrees and regulations, or established by judges through precedent, normally in common law jurisdictions. Private individuals can create legally binding contracts, including arbitration agreements that may elect to accept alternative arbitration to the normal court process. The formation of laws themselves may be influenced by a constitution, written or tacit, and the rights encoded therein. The law shapes politics, economics, history and society in various ways and serves as a mediator of relations between people.
Economics
Mit dem Jahr 1830 trat die ein für allemal entscheidende Krise ein. Die Bourgeoisie hatte in Frankreich und England politische Macht erobert. Von da an gewann der Klassenkampf, praktisch und theoretisch, mehr und mehr ausgesprochne und drohende Formen. Er läutete die Totenglocke der wissenschaftlichen bürgerlichen Ökonomie. Es handelte sich jetzt nicht mehr darum, ob dies oder jenes Theorem wahr sei, sondern ob es dem Kapital nützlich oder schädlich, bequem oder unbequem, ob polizeiwidrig oder nicht. An die Stelle uneigennütziger Forschung trat bezahlte Klopffechterei, an die Stelle unbefangner wissenschaftlicher Untersuchung das böse Gewissen und die schlechte Absicht der Apologetik.
With the year 1830 came the decisive crisis. In France and in England the bourgeoise had conquered political power. Thenceforth, the class-struggle, practically as well as theoretically, took on more and more outspoken and threatening forms. It sounded the death knell of scientific bourgeois economy. It was no longer a question, whether this theorem or that was true, but whether it was useful to capital or harmful, expedient or inexpedient, politically dangerous or not. In place of disinterested enquirers, there were hired prize-fighters; in place of genuine scientific research, the bad consequence and the evil intent of apologetic. Karl Marx, Capital, Postscript to the Second Edition Karl Marx, Capital, Postscript to the Second Edition
Law
Inertis est nescire, quid liceat sibi.
Id facere, laus est, quod decet; non, quod licet.
It is the act of the indolent not to know what he may lawfully do. It is praiseworthy to do what is becoming, and not merely what is lawful.
Law
We must not, by any whimsical conceits supposed to be adapted to the altering fashions of the times, overturn the established law of the land: it descended to us as a sacred charge, and it is our duty to preserve it.
Lord Kenyon, C.J., Clayton v. Adams (1796), 6 T. R. 605.
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