ETCO continues the Debate on Justice and Economy
Source: ETCO, 08/10/2007
The Brazilian Institute of Ethics in Competition - ETCO held on October 4 the seminar "The two sides of the coin: The legal impacts of economic decisions and the economic impacts of legal decisions". The event featured lectures by the Minister of STJ Francisco César Asfor Rocha, the President of CADE, Elizabeth Farina and the economist and former Minister Maílson da Nóbrega.
The President of the Administrative Council for Economic Defense (Cade), Elizabeth Farina, highlighted the high number of lawsuits questioning CADE's decisions and the long period that they are pending judicial approval or review, a fact that greatly limits the effectiveness of the defense policy. defense of competition. For Elizabeth Farina, greater effectiveness of the competition defense policy depends on the integration between Competition authorities (CADE), the Judiciary and professionals in the field.
The economist and former Minister of Finance, Maílson da Nóbrega, showed that the economic progress generated by capitalism was preceded, in XNUMXth century England, by important institutional changes that reduced the monarch's power and transferred it to the bourgeoisie. He argued that this transfer of power was decisive for the success and the propagation of the Industrial Revolution of the XNUMXth century. Among these new rules, two stand out for their importance for the good functioning of a capitalist economy; property rights and respect for contracts. These rights must be guaranteed by the Judiciary. Maílson da Nóbrega warned that numerous judicial decisions in Brazil today disregard these rules and cause great damage to the national economy.
The last to appear was the Minister of the Superior Court of Justice (STJ), Francisco Cesar Asfor Rocha. At first he reported data showing the huge number of judicial demands that are occurring today in all instances of the judiciary. The Minister argued that both the 1988 Constitution and the Consumer Protection Code (CDC) released a repressed demand for lawsuits and argued that the best alternative to combat this excess of actions is the binding summary.
It is worth mentioning that the three speakers believe that the distance between Law and Economics is still very large and that greater interaction is needed to improve dialogue. “There is a need for learning by the Administrative Authority and the Judiciary,” says Elizabeth Farina. “Economists need to understand more about law and vice versa”, adds Maílson da Nóbrega.
ETCO's Executive President, Professor André Franco Montoro Filho, also stressed the need for greater integration between Law and Economics, arguing the importance of knowledge of economic theory by law operators so that legal and judicial decisions can have the effects in the short and long term. “Often judicial decisions end up generating economic and financial results that are opposite to the objectives of the judicial authorities”, adds Professor André Montoro.
The event is part of a Cycle of Debates that ETCO is promoting in partnership with the Federal Regional Court of the 3rd Region and the Superior School of the Federal Public Ministry and was supported by BM&F (Bolsa de Mercadorias & Futuros).
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