Abstract

This review on the book titled "Economics of Legal Relationships (Public Procurement Policy)," edited by Gustavo Piga and Tünde Tátrai. This book explores the intricate connections exist between legal frameworks, economic principles, and social considerations in public procurement. This book review highlighted the book’s significant contributions to understanding the evolving landscape of procurement policies in light of increasing demands for efficiency, transparency, and social responsibility. The book consists of four main sections, that begins with an analysis of how social considerations are integrated into public procurement processes. It also discusses Martin Trybus' contribution on the tension between traditional procurement objectives the necessity to address social and environmental goals. The subsequent sections in the book delve into the economic and legal complexities of centralized procurement, emphasizing the challenges faced by small and medium-sized enterprises (SMEs) participating in public procurement. The review also addresses the critical role of public-private partnerships for fostering innovation, emphasizes the need for effective demand-side policies onto stimulating private sector investment in research and development. Furthermore, it also discussed the importance of green public procurement as a tool for sustainability promotion, raising critical questions about the effectiveness of current practices and the risk of "greenwashing." Conclusively, the review also underscores the book's relevance to policymakers, practitioners, and scholars, at the same time identified areas requiring further exploration, like the need for a broader international perspective and actionable recommendations. By illuminating the complexities of public procurement, this review also encourages ongoing discourse on leveraging procurement as a mechanism for social change and sustainable development.