Law and economics and the fines against legal entities: A critical perspective and proposals for reorientation

Abstract

This article addresses the modifications introduced by Law 21.595 to the punishment regime for legal entities in Chile, focusing on the implementation of a day-fine system and its impact on special prevention against corporate crime. The main objective is to critically examine the application of economic punishment as the primary deterrent tool, highlight their practical limitations compared to structural punishment, and propose more suitable alternative sanctions to achieve preventive goals. The methodology employed consists of a dogmatic-legal analysis of the day-fine system, based on the theoretical foundations of Economic Analysis of Law and the rational actor model, and the bounded rationality and decision-making models. The main finding indicates that, although Law 21.595 aims to deter organizational crime through a strengthened sanction regime, significant challenges question its practical effectiveness and justify exploring more structured and adaptive approaches in the design of corporate sanctions.