* John R. COMMONS (1862-1945).

Commons was a key member of the American institutionalism school. Born in Ohio (USA), was professor of economics at the universities of Wesleyan, Oberlin, Indiana, Syracuse and Wisconsin. President of the American Economic Association.

His influence is not so much to his theoretical writings as legislation that promoted and managed to pass in American legislatures. His friendship with Robert LaFollette and other progressive senators prompted a profound reform of labor legislation, especially concerning health and safety conditions in the workplace, unemployment insurance and social security programs for retirement. All this before the First World War!

John Commons investigated the role of the state and proposed the development of “Institutional Economics” as a synthesis of Political Economy, Law and Ethics.

* Kenneth J. ARROW (1921 – ).

Nobel Prize 1972. U.S. economist, New York, studied at City College and Columbia. His doctoral thesis “Social Choice and Individual Values” was a theoretical revolution. Using the notation of symbolic logic raised the problem of intransitivity of social preferences. The “impossibility theorem of Arrow,” argues that there is a democratic form of voting that allows a transitive social choice and rational. The only constitution which would allow decisions stable and unambiguous a dictatorship would be the individual or where the choice down to two.

He received the Nobel Prize in Economics in 1972, shared with Britain’s John R. Hicks, for pioneering contributions to general economic equilibrium theory and welfare theory.

* Ronald H. Coase (1910 – ).

Nobel Prize 1991. British economist won the Nobel Prize in Economics in 1991 for his discovery and clarification of the significance of transaction costs and property rights for the institutional structure and functioning of the economy. It is considered the originator of the field of Economic Analysis study of law with its publication in 1960 of what has been called the Coase Theorem.

He studied at the London School of Economics and began working as a professor at the Dundee School of Economics and Commerce (1932-1934), the University of Liverpool (1934 -1935) and the London School of Economics (1935-1939 and 1946 -1951). He immigrated to the United States, working at the University of Buffalo, the Center for Advanced Study in the Behavioral Sciences at the University of Virginia and since 1964, the University of Chicago. He was editor of the magazine “Law and Economics” from 1964 to 1982.

The 1960 article “The Problem of Social Cost” is considered the most cited article in the economic literature of all times and countries, but their ideas were seminal and explicit in the article “The Nature of the Firm”, 1937, that any pricing system has a cost and that it is possible to do an economic analysis of the rules, organizational forms and methods of payment.

Ronald Coase is considered the founder of the Economic Analysis of Law and the “New Institutional Economics.”

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In the legal environment has become an important economic analysis of law promoted by Richard A. Posner on “Economic Analysis of Law” and Guido Calabresi in “The Cost of Accidents” especially in the field of economic rights and extra-law recently. One of his mentors the said Posner has pointed out that many areas of law are the hallmark of economic reasoning and theory of the efficiency of law is best explained as a system to maximize the wealth of society and proclaims to the economic theory of law as the positive theory of law that there is more promising today.

For its part Atienza said that the economic analysis aims to use categories, methods and techniques of the economy in the task of explaining and interpreting the law, although the same Atienza believes that the novelty of this current is relative. In fact the proposed interdisciplinary Economic Analysis of Law proposes to apply virtually to the last consequences of the methods of economics, without discriminating factors ethical or sociological issues, which ultimately became law a mere branch of science Economic. Bet of Economic Analysis does not appeal to interdisciplinary itself, but a multidisciplinary approach in extremis that does not claim any conciliatory role and develops despite sometimes dogmatic discourse against the law. This trend of economic analysis of law has prompted criticism from several theoretical reaction Ghersi have denounced as biased and character on the contrary have been proposed “to represent the law as a social phenomenon and to do different areas of knowledge, as references reflective and communicative “and on the understanding that the right is inside and not outside the social phenomenon.

The AED is a (relatively) new school of legal thought, which has appeared in Anglo-Saxon countries based on the evolution of economic thought, particularly between 1930 and 1970.

It is a methodology that applies to legal problems, principles and concepts of economic order. The main concepts of the economy that are used are the transaction costs (costs for using the price mechanism), the marginal returns management, governance structures of interpersonal relationships (Figures corporate and contractual structures of various kinds), relevance property rights in the efficiency of resource allocation, the role of efficiency standards and the applicability of economic analysis to all kinds of transactions, including those not made in a market context. Another concept is the voluntary exchange transaction as an efficient way (according to different criteria), both in its actual version in the version alleged or fictitious.
1. CONCEPT
2. MAIN THEORETICAL

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