Sociological Analysis of Functional Change
The legal expert who has accompanied the authors in their observations will have made the surprising discovery that law and economics, though appearing to be indissolubly bound together, if considered as static at any given moment, yet undergo unequal development in the course of history. The legal institution of property has undergone an extensive development in a relatively short period. It has suffered a drastic transformation which has not, however, been accompanied by noticeable modifications of its legal structure. All law is the imperative voice of society — as an entity conscious of itself — addressing the individual. It is expressed by the formula: total will — individual will. There is no doubt that valid law has the power to bind; it is the purpose of the total will to bind individual will. The power of the law over economics is already restricted by the narrow technique of the law; it is only in theory that the law is omnipotent.