Rhodes Forum - World Public Forum "Dialogue of Civilizations"

Law and economics: direct and indirect ties in conditions of the world crisis

Translated from ancient Greek, the word “crisis” means “turning point.” The current economic situation in the world is characterized by such crisis phenomena as a slump in the real gross national product, widespread bankruptcy, rising unemployment and a decline in the living standards of the population. What can be done to remedy this situation? Can the existing problems be resolved by economic methods alone?  What is the interrelationship between law and economics, and what legal instruments may be required for overcoming the consequences of the world financial crisis?

Main vectors of discussion:

• financial law as an instrument for systemic regulation of macroeconomic processes; reformation of the international system of financial supervision and upgrading inter-state cooperation in the given sphere; juridical guarantees for crediting business in conditions of the crisis; the system of international financial organizations; general characteristics and providing the right to vote for developing countries; the significance of regional financial cooperation; the legal characteristics of the international monetary system and the dynamics  by which it undergoes changes;
• the peculiarities of legal regulation of labor relations in conditions of the economic crisis; ways of resolving the unemployment problem and the role of the International Labor Organization;
• new tendencies in civil law; juridical entities and natural persons as the central subjects of civil law; new phenomena in the bankruptcy procedure; legislation for protecting consumers’ rights as a mechanism for ensuring social security in conditions of the crisis;
• the growing crime rate and the emergence of new types of crime as a result of the crisis; humanization or toughening of punishment;
• international law and the potential possibilities of legal regulation of macroeconomic processes in conditions of globalization; harmonization of international legislation as a means of establishing an equitable economic order.

Moderators:

Vladislav Czaplinski
Professor, Director of the Institute of Law Studies, Polish Academy of Sciences (Poland)

Vladimir Ovchinskiy
Counselor to the Chairman of Constitutional Court of the Russian Federation, Doctor of Law (Russia)

Reports: