Abstract
Institutional economics has had a warm reception in our milieu; neoinstitutional economics and law and economics have managed to permeate thinking in academic circles and centres of power, particularly in those determining economic policy. They have generated a series of discussion which have particularly criticised some of the Constitutional Court's economic rulings, regarding their social and economic implications. Discussion has become polarised, placing the Court in a difficult situation concerning its legal conduct. The Constitutional Court's critics have used neoinstitutional discourse for providing substance to their arguments; some of them have thus incurred serious inconsistencies implicit in the discourse which they have had recourse to as, from this theoretical point of view, institutions have been considered as being the keystone for modern capitalist society's functioning. Attacking such an important institution without the clarity and deliberation required for looking at legal and economic elements behind the behaviour, generates strong contradictions. There has thus been confrontation between those defending the law within the framework of the Social State of law and the technocracy managing Colombia's economy. The present work seeks to stress some of institutions' connections with law and economic law within the above context, starting by synthesising current theories and then reflecting on the validity of using such types of theory regarding viewpoints for judging Constitutional Court rulings.
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