Definition of Economic Law – The word “economy” itself comes from the word Greece (oikos) which means “family, household” and (nomos), or “rules, rules, laws,” and are broadly defined as “household rules” or “household management”.”

So, Economy is the study of human behavior in choosing and creating wealth. The core of the economic problem is the imbalance between unlimited human needs and limited means of satisfying these needs.

according to M. ManulangEconomics is a science that studies society in its efforts to achieve prosperity (prosperity is a condition in which humans can meet their needs, both goods and services). Economic law was born due to the rapid growth and development of the economy. The law functions to regulate and limit economic activities in the hope that economic development does not neglect the rights and interests of the community.

So, economics is the study of human behavior in choosing and creating wealth.

In this case, Economic Law It can be defined as a causal relationship or relationship of economic events that are interconnected with one another in everyday economic life in society.

Or also, economic law is a causal relationship or relationship of economic events that are interconnected with one another in everyday economic life in society. In addition, economic law was born due to the rapid growth and development of the economy.

  1. Economic development law, which includes legal arrangements and thoughts on ways to improve and develop Indonesia’s economic life nationally.
  2. Social Economic Law, which concerns the regulation of legal thought regarding ways of distributing the results of national economic development fairly and with the dignity of humanity (human rights) of Indonesian people.

according to Sunaryati HartonoEconomic law is the elaboration of development economic law and social economic law, so that economic law has two aspects, namely:

  1. Aspects of regulating economic development efforts,
  2. Aspects of regulating efforts to share the results of economic development equally and equitably among all levels of society.

Indonesian economic law is divided into 2, namely:

  • Law of Development Economics

The law of economic development is that which includes the regulation and legal thought on ways to improve and develop Indonesia’s economic life nationally,

Social economic law is concerned with the regulation of legal thought regarding ways of distributing the results of national economic development fairly and equitably in Indonesian human rights. However, the scope of economic law cannot be applied as a part of one branch of law, but rather is an interdisciplinary and multidimensional study. On that basis, economic law has become widespread in various laws and regulations that are rooted in Pancasila and the 1945 Constitution. Meanwhile, economic law adheres to the following principles:

  1. The principle of faith and devotion to God Almighty.
  2. The principle of benefit.
  3. Pancasila democracy principles.
  4. Fair and equitable principles.
  5. The principle of balance, harmony, and harmony in life.
  6. Legal principles.
  7. The principle of independence.
  8. Financial Principles.
  9. Principles of science.
  10. The principle of togetherness, kinship, balance, and continuity in the prosperity of the people.
  11. The principle of environmentally sound and sustainable economic development.
  12. The principle of independence with a state perspective.

Thus, in the era of globalization, the world becomes one so that state boundaries in the economic and legal sense are blurred. Therefore, consideration of what develops internationally becomes so important to be used as the basis of economic law.

Definition of Economic Law
Definition of Economic Law

Other Aspects of Economic Law

Aspects in economic law are all that influence economic activities, including actors from economic activities that clearly affect events in the economy, economic commodities that are the beginning of an economic activity, then other aspects that affect economic law itself, such as the example given. above, namely currency exchange rates, other related aspects such as politics and other aspects of very complex economic relations. In addition to aspects in economic law, there are also norms in economic law which have also been described in the various examples mentioned above, where if an economic aspect experiences an event that causes an event, then the economic norm applies to make how a cause affects other events that cause it. be the result of the occurrence of that cause. It can be interpreted that the norms of economic law are the rules that apply in the economic law.

Thus, in the era of globalization, the world becomes one so that state boundaries in the economic and legal sense are blurred. Therefore, consideration of what develops internationally becomes so important to be used as the basis of economic law.

Economic law in this current era has the function of facilitating economic and trade activities for the welfare of the community, while the legal relationship in this case is criminal law on economic activity is how criminal law in economic terms becomes a thing that functions to prevent deviant behavior in the economic field that is detrimental to society. and the nation in the implementation of economic globalization. So that with criminal law in economic terms it prevents all actions or activities that are detrimental to society, because nowadays people pay more attention to and are more afraid of criminal law as a consequence of a deviant act. It is hoped that with the law that regulates economic activities, economic activities that do not deviate and still provide welfare for the community and nation will be obtained.

The relationship between law and economics in the current era is arguably very important because the law can be used as a natural control for all economic actions that take place in this country. Because without clear legal control, economic activities can be turned into a deviant activity and result in losses for the community as economic actors and also harm the state.

Indonesian economic law principles:

  • benefit principle,
  • Humane principles of justice and equity,
  • The principle of balance, harmony and harmony in life,
  • The principle of independence with a national perspective,
  • The principle of joint or family business,
  • Principles of economic democracy, and
  • The principle of building without destroying the environment.

Indonesian economic law base:

  • [1945Constitution
  • MPR tap,
  • Constitution,
  • Government regulations,
  • Presidential decree,
  • Ministerial Decree, and
  • Local regulation

Scope of Economic Law

The scope of economic law if based on the international classification is as follows:

  • Agricultural or agrarian economic law, which includes norms regarding agriculture, hunting, animal husbandry, fisheries and forestry.
  • Mining economics law.
  • Industrial economics law, processing industry.
  • Building economics law.
  • Trade economic law, including norms regarding hospitality and tourism.
  • Infrastructure economic law including gas, water electricity, roads.
  • Economic law services, the profession of doctors, advocates, housemaids, labor.
  • Transport economics law.
  • Government economic law including defense and security (hankam) etc.

Reference :

  1. Budiyanto, Fundamentals of State Administration, Jakarta: Erlangga 2003 page 125
  2. http://agusnuramin.wordpress.com/2012/03/11/pengertian-law-dan-law-ekonomi/
  3. http://myilmu Lintas Hukum.blogspot.co.id/2015/09/source-law-economy.html
  4. http://myilmu Lintas Hukum.blogspot.co.id/2015/09/pengertian- Hukum- Ekonomi.html
  5. Peter Mahmud Marzuki, 2009. Introduction to Law. Which published Kencana Prenada Media, Gro Elsi Kartika Sari and Advendi Simangunsong, 2007. LAW IN ECONOMY. PT Grasindo Publisher: Jakartaup: Jakarta.
  6. http://myilmu Lintas Hukum.blogspot.co.id/2015/09/ Ekonomi.html

.