Order, Economics and Regulatory Process

Authors

DOI:

https://doi.org/10.61243/calamo.23.464

Keywords:

Economic freedom, Free enterprise, Fundamental economic rights, Law, Economics

Abstract

This article discusses free enterprise and its status as a fundamental right in the Brazilian legal system, as well as the different market regulation mechanisms and their consequences (economic freedom). The Economic Freedom Law (Law 13.874/2019 - LLE) represents the first recent attempt to promote free enterprise through a declaration of fundamental economic rights. It emphasizes that economic freedoms guarantee innovation, which in turn is related to economic development. 

Author Biographies

Luciano Benetti Timm, FGV

He holds a Law degree from the Pontifical Catholic University of Rio Grande do Sul (1994), a Master's (1997) and a PhD (2004) in Law from the Federal University of Rio Grande do Sul. He also holds an LL.M. from the University of Warwick and completed a postdoctoral fellowship at the University of California, Berkeley. He served as National Secretary for Consumer Protection at the Ministry of Justice and Public Security in Brazil. He currently works as an arbitrator and legal practitioner.

María Carolina França

She holds a Bachelor's degree in Economics from the University of Brasília and a Law degree from the Instituto Brasiliense de Direito Público (IDP), with additional studies in Economics through an exchange programme at IAE Montpellier. She earned an LL.M. in International Law from University College London (UCL), where she also worked as a researcher for the Public International Law Pro Bono Project, contributing to the preparation of an amicus curiae brief before the Inter-American Court of Human Rights. She was awarded a Chevening Scholarship, funded by the UK Foreign, Commonwealth and Development Office (FCDO) and partner organisations. Her professional experience includes consultancy roles with the International Competition Network (ICN), UNDP Brazil, and the law firm CMT Advogados.

Patrícia Medeiros

She holds a Master's degree in Law, Justice and Economic Impacts from the Centre for Studies in Economic and Social Law (CEDES) and an LL.M. in Business Law from Fundação Getulio Vargas (FGV). She previously worked as an associate lawyer at CMT Advogados and is currently affiliated with the Brazilian Rural Society (Sociedade Rural Brasileira).

References

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Caldeira, Jorge. 2017. História da riqueza do Brasil. São Paulo: Mameluco Editions.

Cavalcanti, Mariana. 2020. Economic Freedom Bill of Rights. Comments to Law 13.874/2019 (2020). Sao Paulo: Juspodvum.

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Shleifer, Andrei. 2005. “Understanding Regulation”. European Financial Management, Vol. 11 (4): 439-451. DOI: https://doi.org/10.1111/j.1354-7798.2005.00291.x DOI: https://doi.org/10.1111/j.1354-7798.2005.00291.x

Stigler, George J. 1971. “The Theory of Economic Regulation”. The Bell Journal of Economics and Management Science, Vol. 2, no. 1: 3-21. DOI: https://doi.org/10.2307/3003160 DOI: https://doi.org/10.2307/3003160

Williamson, Oliver. 2005. “Why Law, Economics and Organizations?”. Annual Review of Law and Social Science, Vol. 1: 369-396. DOI: https://doi.org/10.1146/annurev.lawsocsci.1.031805.111122 DOI: https://doi.org/10.1146/annurev.lawsocsci.1.031805.111122

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Published

2025-07-02

How to Cite

Timm, L. B., França, M. C., & Medeiros, P. (2025). Order, Economics and Regulatory Process. Cálamo, Journal of Legal Studies, (23), 112–123. https://doi.org/10.61243/calamo.23.464

Issue

No. 23 (2025): Law and Economics: Convergences and Social Impact

Section

Dossier

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Copyright (c) 2025 Luciano Timm, María Carolina França, Patrícia Medeiros

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