The Evolution of Swedish “Economic Law”

Abstract

This study looks at the evolution of Swedish “economic law.” This branch of law formally does not exist in Sweden. The development of “economic law” in Sweden stems from contract law, and in recent decades, since the 1970s, there has been a noticeable development in commercial and economic law.

The aim of the study is to describe the basic normative acts that constitute the foundation of Swedish contract law as well as commercial and economic law. By their nature, practical Swedes, in parallel with the development of legislation, have established bodies and institutions that allow for institutional protection of consumer rights and good practices in trade and services. It is an exceptionally effective and efficient mechanism. It allows the majority of disputes in the economy to be resolved amicably.

Currently, the most dynamically developing part of Swedish “economic law” is related to consumer protection law and competition law. At the same time, the process of improving out-of-court dispute resolution between business entities and consumers is taking place.