In his research on The Governance of the Rule of Law (1936), Franz L. Neumann (1900-1954) claims that nineteenth century liberal capitalism had transformed into an Era of monopolistic capitalism in the twentieth century. This, according to him, led to the disintegration of the rule of law and the rise of authoritarian rule. This article revisits Neumann's critical legal theory and discusses his Marxist theory of decay. The author claims that by revising the schematic Marxist opposition, we can open up pathways of renewing Neumann's dialectical theory of law.
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