Final answer:
According to Marxist-socialist tenets, law is subordinate to economic conditions, and the establishment of legal propositions like private ownership and contracts is essential for effective markets and economic growth.
Step-by-step explanation:
Under the premise that law, according to Marxist-socialist tenets, is strictly subordinate to prevailing economic conditions, such fundamental propositions as private ownership, contracts, due process, and other legal mechanisms have had to be developed. Economic growth relies on myriad factors, particularly the adherence to the rule of law and the protection of property rights and contractual rights by a government. This ensures that markets can function effectively and efficiently, as laws must be clear, public, fair, enforced, and equally applicable to all members of society.