Interconnectedness between Economic Theories and Legal Practices

Human activities are driven by the pursuit of flourishing and the avoidance of suffering. A crucial means for achieving such pursuits is the confluence of law with economic aptitude, the speech symbolises that. It delves into how economic principles influence legal frameworks, ranging from individual actions to collective endeavours. Concepts such as utility maximization, constitutional compliance, and societal welfare are scrutinized through an economic lens, illuminating the interconnectedness between economic theories and legal practices. The speech also touches the acritical aspects upon the limitations of traditional economic measures, such as GDP, in capturing the quality of life providing multiplicity of perspective highlighting the role law plays in the economy.