will begin by explaining the speculative behaviours of stock traders on lottery type of stocks‚ the probable data source and methodology. This will be followed by introducing the concept of positivism and identifying the reasons for selecting positivism. This paper will also provide some criticisms to positivism. Lastly‚ the paper ends with a summary. Speculative Behaviours of the Stock Traders in Lottery Type of Stocks My research will be mainly focus on the speculative behaviours of the stock
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come with answers to the question. Ronald Dworkin says it is “a set of explicitly adapted rules and ought to maximise the general welfare” ‚ Fuller on the other believed “law should withstand the scrutiny of reason and opposed the idea of legal positivism that law is no higher than a particular authority” ‚ John Austin defined it to be “the command of the sovereign‚ backed up by sanctions” ‚ Herbert Lionel Adolphus Hart said that law was “the rules that may forbid individuals to perform various kinds
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HANS KELSEN (1881-1973) Lecture – Part I Notes Like other legal positivists‚ Hans Kelsen attempts to “describe” the law separate and distinct from morality or ideology. WHAT MAKES KELSEN A LEGAL POSITIVIST? 1. Kelsen’s theory is free from ideological issues‚ and no value judgments are made concerning the “legal system per se.” 2. Historical‚ sociological and moral issues are beyond the scope of Kelsen’s pure theory of law. As such‚ Kelsen’s “Pure Theory” attempts to examine and
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LEGAL POSITIVISM vs. NATURAL LAW THEORY There are two “natural law” theories about two different things: i) a natural law theory of morality‚ or what’s right and wrong‚ and ii) a natural law theory of positive law‚ or what’s legal and illegal. The two theories are independent of each other: it’s perfectly consistent to accept one but reject the other. Legal positivism claims that ii) is false. Legal positivism and the natural law theory of positive law are rival views about what is law and what is
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standpoint is it possible to capture what law is? It is possible to capture what law is from a standpoint independent of its content by positing a descriptive account of its characteristic features. In response to the limitations of early empirical positivism propounding the command theory‚ the conventional positivists put forth the separability thesis‚ by which law can be described distinct from any morally laden propositions. However‚ the value of such a purely descriptive account of what law is remains
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developing the theory of legal positivism. He attempted to clearly separate moral rules from "positive law." Austin’s theory also falls under Constitutions‚ International Law‚ non-sanctioned rules‚ or law that gives rights. Austin believed that people have different interpretations of what is wrong and right. Therefore‚ ’set’ laws needed to be established that has to be obeyed. There are three aspects of Austin’s theory of law - Analytical Jurisprudence‚ Legal Positivism and Command theory of law and
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* General comments: Exploring the question of how particular laws come to be included within legal systems is a characteristic question of some theories known as theories of legal positivism The question of whether all legal systems or even all laws‚ partake of some more general moral qualities is characteristic of some theories known as natural law theories Hybrid theories (that of Dworkin) suggest that the manner in which any and every particular law becomes part of a legal system can only be
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Elizabeth Lake Concepts and Nature of Law John Austin 1) PHILOSOPHER’S VIEW John Austin’s philosophy of law was that “where there is law‚ there are patterns of commanding and obeying. His definition of commanding was a general one rather than specific to a given occasion or an expression of one person’s wish for another person to act a certain way. He believed that any expression of an intention did not count as a command‚ only the expressed intention of a superior or sovereign who has
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THE HART-FULLER DEBATE It is important to consider‚ howbeit briefly‚ the academic exchanges between the proponents of legal positivism as represented by H.L.A. Hart and those of the natural law school represented by Lon Fuller. The gravamen of such academic discourse‚ usually tagged Hart-Fuller debate is to be found in the Harvard Law Review 1958. Curzon identifies the background of the debate as the atrocities committed by Germany during the 2nd World War. Under the National-Socialist regime
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NATURAL LAW – DUTY TO OBEY UNJUST LAWS Important aspects of natural law can be traced back to Aristotle‚ Plato and the stories of Sophocles‚ Antigone & Oedipus. They offered arguments for the existence of a higher form of law‚ a set of standards against which existing legal norms can be compared and judged. Plato argued that individual objects (e.g. individual trees and chairs and individual instances of equality or beauty) were imperfect reflections or instances of an eternal Idea or Form
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