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All Journal Pembaharuan Hukum Jurnal Greenation Sosial dan Politik
Kristofer Oscar
Universitas Borobudur, Jakarta, Indonesia
Law, Crime, Criminology & Criminal Justice Social Sciences

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The Balancing Efficiency & Justice in the Rationality of Modern Law and Economics Anggiat Ris Hardinata N; Anthony Rahardjo; Kristofer Oscar; Badra Fahrizal; Faisal Santiago
Jurnal Pembaharuan Hukum Vol 13, No 1 (2026): Jurnal pembaharuan Hukum
Publisher : UNISSULA

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26532/jph.v13i1.48928

Abstract

The economic approach to law (law and economics) has become a dominant paradigm in modern legal analysis. Through the framework of efficiency, it seeks to explain and evaluate legal rules based on their impact on resource allocation and social welfare. Yet behind this rational ambition lies a fundamental tension between efficiency and justice. This paper explores the historical, philosophical, and normative dimensions of law and economics, focusing on the seminal contributions of Ronald H. Coase, Guido Calabresi, Gary S. Becker, and Richard A. Posner. It argues that the economic approach should not be reduced to market rationality but understood as a form of pragmatic moral rationality, a pursuit of “bounded justice” within a world of scarcity. By integrating efficiency, justice, and legal legitimacy, this study affirms the continuing relevance of law and economics for contemporary legal philosophy, including its adaptation within the Indonesian legal context, positioning efficiency as the means and justice as the end.
The Absence of a Legal Protection Mechanism for Concurrent Creditors in the Distribution of Bankrupt Assets in Indonesia Kristofer Oscar; Bambang Soesatyo
Jurnal Greenation Sosial dan Politik Vol. 3 No. 4 (2025): Jurnal Greenation Sosial dan Politik (November 2025 - Januari 2026)
Publisher : Greenation Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.38035/jgsp.v3i4.537

Abstract

Concurrent creditors are the weakest party in the Indonesian bankruptcy system. According to Law Number 37 of 2004 concerning Bankruptcy and Suspension of Debt Payment Obligations, secured and preferred creditors are given priority when it comes to the distribution of bankruptcy assets, or the bankruptcy estate, while concurrent creditors only get the remaining assets after both groups have been satisfied. This condition creates inequality and injustice in the fulfillment of creditors' rights, because there is no legal protection mechanism that specifically guarantees the interests of concurrent creditors. Articles 1131 and 1132 of the Civil Code regulate the principle of paritas creditorum, namely equality among creditors, but its implementation is not reflected in the practice of bankruptcy estate settlement. This study aims to analyze the legal position of concurrent creditors, identify the absence of a protection mechanism in the Indonesian bankruptcy system, and propose a concept for a more equitable legal reformulation. Using a normative legal approach and analyzing laws and regulations and commercial court decisions, the research findings indicate that Law No. 37 of 2004 does not guarantee substantive justice for unsecured creditors. Therefore, legal reforms are needed to regulate preventive and repressive protection mechanisms so that unsecured creditors' rights can be proportionally protected in bankruptcy proceedings.
Co-Authors Anggiat Ris Hardinata N Anthony Rahardjo Badra Fahrizal Bambang Soesatyo Faisal Santiago