Brief Discussions on Thoughts and Theories of Law and Economics

Law and economics’ contents include two aspects: one is analyzing the legal system based on using economics’ approaches and the other is analyzing and solving economic problems based on the perspective of law.Law and economics’ theories have gone through the process of great development and prosperity,but there are still a lot of distrusts about rational person hypothesis,value subjectivity and wealth maximization in law and economics’ theories.Problems of what,why and how in laws can be effectively explained by law and economics’ approaches from the angle of law while there are some prejudices and defects within related criticisms.Nowadays,more attention should be paid to the applications of law and economics in practice and the improvement in theory because the development of law and economics has encountered some bottleneck problems.