‘Legal constitutionalism’ maintains that law constitutes economic as well as other social institutions enabling institutional varieties of political economies. Law generates social reflexivity by coupling diverse functional (economic, political, cultural, ecological) rationalities. Given its basic constitutive and reflexive character, law could not only transform social relations and social orders (including political economies) but as well world relations and rationalities. Law is essentially transformative. Within the RESOLVENCY project the theory of ‘transformative law’ enables to reconstruct legal debt regulation as reflexive social mechanism.

Funded by the European Union (ERC, RESOLVENCY, 950427). Views and opinions expressed are however those of the author(s) only and do not necessarily reflect those of the European Union or the European Research Council Executive Agency. Neither the European Union nor the granting authority can be held responsible for them.