The new international financial crisis: causes, consequences and perspectives

The paper investigates the recent financial crisis within a historical and comparative perspective having in mind that it is ultimately a confidence crisis, initially associated to a chain of high risk loans and financial innovations that spread thorough the international system culminating with impressive wealth losses. The financial market will eventually recover from the crisis but the outcome should be followed by a different and more disciplined set of international institutions. There will be a change on how we perceive the widespread liberal argument that the market is always efficient, or at least, more efficient than any State intervention, overcoming the false perception that the State is in opposition to the market. A deep financial crisis brings out a period of wealth losses and an adjustment process characterized by price corrections (commodities and equity price deflation) and real effects (recession and lower employment), and a period of turbulences and end of illusions is in place.

Lei e ordem econômica no pensamento de John R. Commons

The paper has analyzed John R. Commons' contribution to the comprehension of Law and Economics relationship. In contrast to the orthodox economics, Commons has shown that the capitalist economic order emerges and functions regulated by laws and institutions. These approaches made possible to him to understand the nature of the modern capitalist wealth and the problems that time introduces in economic transactions.