The ascent of a new and efficient public law

Economic analysis redefines the scope of public law. This legal branch aims at creating an optimal system for non-consensual institutions that serves the efficient pursuit of social welfare by using various forms of action. Efficiency is a key concept to assess public action, to improve the definition of legality and to redesign institutions and procedures. This new, “wannabe efficient†public law contributes to the evolution of liberal democracy. It ensures that collective choices are not only “representative†and “lawful†but also technocratically “optimal†. It renders paternalism more moderate and libertarian and adopts a holistic view on liberalism. In sum, economic analysis is valuable for better understanding both the modern State and the markets, (the Demos and the Agora) and the rules that regulate them in a global, competitive arena for legal institutions.