Understanding Economic LawLaw economy was born due to the rapid growth and development of the economy. Throughout the world, economic law functions to regulate and limit economic activities, with the hope that economic development does not neglect the rights and interests of the community. In this case, the law functions to limit and regulate economic activities.

Rochmat Soemitro The definition of economic law is defined as part of the overall norms made by the government or authorities as a personification of the community that regulates the life of the economic interests of the community that face each other.

Sunaryati Haryono provide an understanding of economic law is the elaboration of development economic law and social economic law, therefore the economic law has two aspects, namely as follows:

  1. Aspects of regulating economic development efforts, in the sense of improving overall economic life,
  2. Aspects of regulating efforts to share the results of economic development evenly among all levels of Indonesian society.

according to SoedartoThe definition of economic law is all regulations, especially those that have been made by the government or government agencies, either directly or indirectly aimed at influencing economic comparisons in markets, which are manifested in economic legislation. The law regulates the economic life of the state, including its people.

From the understanding of economic law conveyed by the experts above, it can be concluded that the definition of economic law is the entire rule of law that regulates and influences everything related to and the life of the national economy of the country, both private and public, written and unwritten legal rules, which regulate the activities and life of the national economy of the country.

The legal aspects of economics in Indonesia can be divided into two, namely the law of development economics and the law of social economics.

As a welfare state, the government is obliged to protect the rights and interests of the people, generally in the form of formal law. This formal law will also realize the goals and objectives to be achieved in economic development. Thus all economic activities will be regulated by the formal law as a means to realize economic development policies which in turn will improve the standard of living and intelligence of the Indonesian nation.

There are those who argue that economic law only includes the rules of public law which are the direction of the government in the life of the national economy. On the other hand, there is a view that economic law includes all civil and public rules that govern economic life. Furthermore, there are still differences of opinion regarding the position of economic law as a branch of law. Then there is also the opinion of economic law as a branch of law that stands alone and there are those who consider it a mere grouping term (verzamelnaam).

Reference :

  1. Rachmadi Usman, 2000. Economic Law in Dynamics. Who Issuing Djambatan : Jakarta.
  2. Elsi Kartika Sari and Advendi Simangunsong, 2007. Law in Economics. PT Grasindo Publisher: Jakarta