In recent years we are observing a process of strengthening of private property rights and an increasing role for contracts in economic relations. The rising importance of the contract in contrast to that of law implies the privatization of power relations, the growing marginality of the regulatory responsibility of the state and of the rule of law. This privatized power relation seeks some legitimization in the new theory of property rights which makes everybody an equally standing owner, including the slaves. Moreover, it is also useful a sharper separation between what is good from what is right. Recent institutional reforms contribute to a deepening of the personal subjection in the private sector with no sovereign responsibility.