Noun
/ˌiː.kəˈnɒ.mɪk lɔː/
Economic law refers to the body of laws, principles, and regulations that governs economic activities and relationships. It encompasses a wide array of areas, including tax law, trade regulations, antitrust laws, corporate law, and labor laws. Economic law is instrumental in shaping the economy, influencing government policies and the behavior of businesses and individuals within the market.
This term is often encountered in both written and oral contexts, particularly in legal, academic, and financial discussions. Its frequency of use may vary depending on the specific field being discussed, but it is generally more prevalent in academic or formal writing.
(La ley económica juega un papel crucial en la regulación de las actividades de las corporaciones.)
Many students choose to specialize in economic law during their law degree.
(Muchos estudiantes eligen especializarse en derecho económico durante su licenciatura en derecho.)
The study of economic law helps us understand the relationship between law and the economy.
While "economic law" itself does not often appear in idiomatic expressions, it does relate to several common phrases in legal and economic discourse. Here are some additional idiomatic expressions related to the concept of law and economics:
(La ley de la oferta y la demanda dicta que a medida que aumenta la oferta, los precios suelen disminuir.)
"To take the law into one's own hands" can lead to dire consequences in an economic dispute.
(Tomar la ley en sus propias manos puede llevar a consecuencias nefastas en una disputa económica.)
"Law and order" are critical for fostering a stable economic environment.
(La ley y el orden son críticos para fomentar un ambiente económico estable.)
"The letter of the law" may not always reflect the spirit of the economic policies in place.
(La letra de la ley puede no reflejar siempre el espíritu de las políticas económicas vigentes.)
"No man's land" refers to an area where economic law is ambiguous or not enforced.
(La tierra de nadie se refiere a un área donde la ley económica es ambigua o no se aplica.)
"Legal loophole" may be exploited in economic contracts for gain.
The term "economic" derives from the Greek word "oikonomikos," which means "of or pertaining to housekeeping or management," related to "oikonomia," referring to household management or economy. The word "law" comes from the Old English "lagu," meaning a rule or regulation. Together, they form a concept that reflects the governance of economic activities.
This thorough overview of economic law provides insights into its implications in various contexts, illustrating the importance of its understanding in both academic and practical realms.