Search Results: the-future-of-law-and-economics-essays-in-reform-and-recollection

The Future of Law and Economics

Essays in Reform and Recollection

Author: Guido Calabresi

Publisher: Yale University Press

ISBN: 0300216262

Category: Law

Page: 248

View: 1341

In a concise, compelling argument, one of the founders and most influential advocates of the law and economics movement divides the subject into two separate areas, which he identifies with Jeremy Bentham and John Stuart Mill. The first, Benthamite, strain, “economic analysis of law,” examines the legal system in the light of economic theory and shows how economics might render law more effective. The second strain, law and economics, gives equal status to law, and explores how the more realistic, less theoretical discipline of law can lead to improvements in economic theory. It is the latter approach that Judge Calabresi advocates, in a series of eloquent, thoughtful essays that will appeal to students and scholars alike.

The Future of Law and Economics

Essays in Reform and Recollection

Author: Guido Calabresi

Publisher: Yale University Press

ISBN: 0300195893

Category:

Page: 248

View: 4083

In a concise, compelling argument, one of the founders and most influential advocates of the law and economics movement divides the subject into two separate areas, which he identifies with Jeremy Bentham and John Stuart Mill. The first, Benthamite, strain, "economic analysis of law," examines the legal system in the light of economic theory and shows how economics might render law more effective. The second strain, law and economics, gives equal status to law, and explores how the more realistic, less theoretical discipline of law can lead to improvements in economic theory. It is the latter approach that Judge Calabresi advocates, in a series of eloquent, thoughtful essays that will appeal to students and scholars alike.

The Future of Law and Economics

Essays in Reform and Recollection

Author: Guido Calabresi

Publisher: N.A

ISBN: 9780300230529

Category: Business & Economics

Page: 248

View: 2146

In a concise, compelling argument, one of the founders and most influential advocates of the law and economics movement divides the subject into two separate areas, which he identifies with Jeremy Bentham and John Stuart Mill. The first, Benthamite, strain, "economic analysis of law," examines the legal system in the light of economic theory and shows how economics might render law more effective. The second strain, law and economics, gives equal status to law, and explores how the more realistic, less theoretical discipline of law can lead to improvements in economic theory. It is the latter approach that Judge Calabresi advocates, in a series of eloquent, thoughtful essays that will appeal to students and scholars alike.

Law and Economics for Civil Law Systems

Author: Ejan Mackaay

Publisher: Edward Elgar Publishing

ISBN: 1782547916

Category: Law

Page: 560

View: 7601

Ejan Mackaay offers a comprehensive look at the essential points of economic reasoning, the Coase Theorem, and legal institutions such as intellectual property, extra-contractual civil liability and contracts. The books structure mirrors the way law is taught in civil law countries, with structured presentations, references to civil code articles paired with non-technical explanations, and limited reliance on graphs. This English-language version builds on the success of the authors 2008 French-language textbook on law and economics from a civil law perspective.

Law and Economics

Philosophical Issues and Fundamental Questions

Author: Aristides N. Hatzis,Nicholas Mercuro

Publisher: Routledge

ISBN: 1317550323

Category: Business & Economics

Page: 364

View: 1440

The Law and Economics approach to law dominates the intellectual discussion of nearly every doctrinal area of law in the United States and its influence is growing steadily throughout Europe, Asia, and South America. Numerous academics and practitioners are working in the field with a flow of uninterrupted scholarship that is unprecedented, as is its influence on the law. Academically every major law school in the United States has a Law and Economics program and the emergence of similar programs on other continents continues to accelerate. Despite its phenomenal growth, the area is also the target of an ongoing critique by lawyers, philosophers, psychologists, social scientists, even economists since the late 1970s. While the critique did not seem to impede the development of the field, it certainly has helped it to become more sophisticated, inclusive, and mature. In this volume some of the leading scholars working in the field, as well as a number of those critical of Law and Economics, discuss the foundational issues from various perspectives: philosophical, moral, epistemological, methodological, psychological, political, legal, and social. The philosophical and methodological assumptions of the economic analysis of law are criticized and defended, alternatives are proposed, old and new applications are discussed. The book is ideal for a main or supplementary textbook in courses and seminars on legal theory, philosophy of law, jurisprudence, and (of course) Law and Economics.

Economic Foundations of Law and Organization

Author: Donald Wittman

Publisher: Cambridge University Press

ISBN: 0521859174

Category: Business & Economics

Page: 390

View: 5491

This book serves as a compact introduction to the economic analysis of law and organization. At the same time it covers a broad spectrum of issues. It is aimed at undergraduate economics students who are interested in law and organization, law students who want to know the economic basis for the law, and students in business and public policy schools who want to understand the economic approach to law and organization. The book covers such diverse topics as bankruptcy rules, corporate law, sports rules, the organization of Congress, federalism, intellectual property, crime, accident law, and insurance. Unlike other texts on the economic analysis of law, this text is not organized by legal categories but by economic theory. The purpose of the book is to develop economic intuition and theory to a sufficient degree so that one can apply the ideas to a variety of areas in law and organization.

Defences in Contract

Author: Andrew Dyson,James Goudkamp,Frederick Wilmot-Smith

Publisher: Bloomsbury Publishing

ISBN: 1509902139

Category: Law

Page: 452

View: 8326

This book is the third in a series of essay collections on defences in private law. It addresses defences to liability arising in contract. The essays range from those adopting a predominantly black-letter approach to others that examine the law from a more theoretical or historical perspective. Some essays focus on individual defences, while others are concerned with the links between defences, or with how defences relate to the structure of contract law generally. One goal of the book is to determine what light can be shed on contract law doctrines by analysing them through the lens of defences. The contributors – judges and academics – are all leading jurists. The essays are addressed to all of the major common law jurisdictions.

The Oxford Handbook of Corporate Law and Governance

Author: Jeffrey N. Gordon,Wolf-Georg Ringe

Publisher: Oxford University Press

ISBN: 0191061409

Category: Law

Page: 900

View: 2618

Corporate law and corporate governance have been at the forefront of regulatory activities across the world for several decades now, and are subject to increasing public attention following the Global Financial Crisis of 2008. The Oxford Handbook of Corporate Law and Governance provides the global framework necessary to understand the aims and methods of legal research in this field. Written by leading scholars from around the world, the Handbook contains a rich variety of chapters that provide a comparative and functional overview of corporate governance. It opens with the central theoretical approaches and methodologies in corporate law scholarship in Part I, before examining core substantive topics in corporate law, including shareholder rights, takeovers and restructuring, and minority rights in Part II. Part III focuses on new challenges in the field, including conflicts between Western and Asian corporate governance environments, the rise of foreign ownership, and emerging markets. Enforcement issues are covered in Part IV, and Part V takes a broader approach, examining those areas of law and finance that are interwoven with corporate governance, including insolvency, taxation, and securities law as well as financial regulation. The Handbook is a comprehensive, interdisciplinary resource placing corporate law and governance in its wider context, and is essential reading for scholars, practitioners, and policymakers in the field.

The Psychology of Tort Law

Author: Jennifer K. Robbennolt,Valerie P. Hans

Publisher: NYU Press

ISBN: 0814724949

Category: Law

Page: 320

View: 560

Tort law regulates most human activities: from driving a car to using consumer products to providing or receiving medical care. Injuries caused by dog bites, slips and falls, fender benders, bridge collapses, adverse reactions to a medication, bar fights, oil spills, and more all implicate the law of torts. The rules and procedures by which tort cases are resolved engage deeply-held intuitions about justice, causation, intentionality, and the obligations that we owe to one another. Tort rules and procedures also generate significant controversy—most visibly in political debates over tort reform. The Psychology of Tort Law explores tort law through the lens of psychological science. Drawing on a wealth of psychological research and their own experiences teaching and researching tort law, Jennifer K. Robbennolt and Valerie P. Hans examine the psychological assumptions that underlie doctrinal rules. They explore how tort law influences the behavior and decision-making of potential plaintiffs and defendants, examining how doctors and patients, drivers, manufacturers and purchasers of products, property owners, and others make decisions against the backdrop of tort law. They show how the judges and jurors who decide tort claims are influenced by psychological phenomena in deciding cases. And they reveal how plaintiffs, defendants, and their attorneys resolve tort disputes in the shadow of tort law. Robbennolt and Hans here shed fascinating light on the tort system, and on the psychological dynamics which undergird its functioning.

FAIRNESS VERSUS WELFARE

Author: Louis KAPLOW,Steven Shavell

Publisher: Harvard University Press

ISBN: 9780674023642

Category: Philosophy

Page: 544

View: 1815

By what criteria should public policy be evaluated? Fairness and justice? Or the welfare of individuals? Debate over this fundamental question has spanned the ages. Fairness versus Welfare poses a bold challenge to contemporary moral philosophy by showing that most moral principles conflict more sharply with welfare than is generally recognized. Fairness versus Welfare has profound implications for the theory and practice of policy analysis and has already generated considerable debate in academia.

Behavioral Law and Economics

Author: Cass R. Sunstein

Publisher: Cambridge University Press

ISBN: 9780521667432

Category: Business & Economics

Page: 431

View: 6548

Analyzes law with reference to new findings in cognitive psychology and behavioral economics.

Key Ideas in Tort Law

Author: Peter Cane

Publisher: Bloomsbury Publishing

ISBN: 1509909435

Category: Law

Page: 128

View: 9186

This book offers nine key ideas about tort law that will help the reader to understand its various social functions and evaluate its effectiveness in performing those functions. The book focuses, in particular, on how tort law can guide people's behaviour, and the political and social environments within which it operates. It also provides the reader with a wealth of detail about the ideas and values that underlie tort 'doctrine'-tort law's rules and principles, and the way those rules and principles operate in practice. The book is an accessible introduction to tort law that will provide students, scholars and practitioners alike with a fresh and engaging view of the subject. 'In this masterful and engaging survey, Peter Cane provides an array of illuminating perspectives on the law of torts, laying bare its nature, structure and functions, as well as its legal, social and political context.' Andrew Robertson, Professor of Law, Melbourne Law School

The Future of Futures

The Time of Money in Financing and Society

Author: Elena Esposito

Publisher: Edward Elgar Publishing

ISBN: 1849809119

Category: Business & Economics

Page: 256

View: 6096

'Within the cacophony of voices trying to explain the recent financial crisis, Elena Esposito's voice sounds clear and deep. Steering away from simplistic condemnations and equally simplistic prescriptions for betterment, she connects the very invention of derivatives to that eternal human hope – of controlling the future. While the task is impossible, the attempts never stop, and the very process of attempting it brings some consolation. And while derivatives can be seen, claim sociologists of finance, as performative, that is shaping the future they promise to control, even this is far from certain. Esposito's fascinating and beautiful work is an important contribution to the sociology of finance, a subdiscipline of sociology that took on itself an extremely important task of explaining how the finance markets really work.'– Barbara Czarniawska, University of Gothenburg, Sweden'This is a brilliant and timely book that shows how financing is centrally implicated in the very unpredictability and uncertainty it purports to master. With the incisiveness characteristic of her style and writing, Esposito reads economics in innovative ways that disclose the hidden premises by which financial instruments trade and consume the prospects of the future.' – Jannis Kallinikos, London School of Economics, UK'Elena Esposito's analysis of financial markets and of their recent decline is radically different from the analyses which can be found in economic journals or books. Financial operations are reduced to their basic dimensions: time and money. Under this perspective, what is sold on financial markets is the possibility for the creation of commitments in the course of time, the possibility for the combination of these commitments with one another, and the identification of chances for the achievement of profit opportunities through the creation of specific combinations. The author argues that the recent crisis of the financial system was caused by oversimplified visions of the future and of risk leading to the consequence that options were not available in the present because all possibilities had been used up by the future. This oversimplified vision of the future imploded, and trust with it. The state tried to reconstruct options for the future in order to open up new possibilities and chances for learning. The author does not deliver recipes on how to prevent severe crises of the financial system in the future. Yet, her concept facilitates understanding of how financial futures are opened up or closed and thus provides insights into basic principles on whose basis future opportunities can be kept open and trust can be maintained. Innovative reforms of the financial system can only develop on the basis of unconventional analyses. Elena Esposito's book contains an analysis of this kind.'– Alfred Kieser, Mannheim University, Germany'Elena Esposito's book is a fundamental analysis of time in economics. With economic rigour underpinned by sociological reasoning, she explains the futures market more clearly than is possible with economic analysis alone. Economic concepts are considered in terms of time – actors deal in the present with future risks by transferring these risks to the present situation. As a result, we get more options and more risks at the same time: at present. No equilibrium will balance these trades because of the asymmetry of time: our actual decisions deal with our imagination of the future, that is, with the future of the present, but the results will be realized in the presence of the future – different modalities of time. The book is a sound reflection on modelling time in economic theory, a "must" for economists.'– Birger P. Priddat, Witten/Herdecke University, Germany'The Future of Futures is an original and intellectually provocative book which forces the reader to think. Esposito's essay fulfils two rather different functions. On the one hand, it brings new and persuasive arguments to bear against the erroneous thesis that the present financial crisis is merely due to human mistakes and to some specific government failures. On the other hand, the book suggests that only by reconsidering the role of time in the economy is it possible to make full sense of the crisis and to re-orient in a desired direction the future movements of money. It is a well-known fact that traditional economics has always adhered to a spatial conception of time, according to which time, like space, is perfectly reversible. Whence its inability both to understand how economies develop and to prescribe adequate policies. The author's proposal is to move steps ahead in the direction of an analysis of an economy in time, where both historical time and time as duration can find a place. Esposito's well-written, jargon-free book will capture the attention of anyone seriously interested in the future of our market systems.'– Stefano Zamagni, University of Bologna and Johns Hopkins University, Bologna Center, Italy This book reconstructs the dynamics of economics, beginning explicitly with the role and the relevance of time: money uses the future in order to generate present wealth. Financial markets sell and buy risk, thereby binding the future. Elena Esposito explains that complex risk management techniques of structured finance produce new and uncontrolled risks because they use a simplified idea of the future, failing to account for how the future reacts to attempts at controlling it. During the recent financial crisis, the future had already been used (through securitizations, derivatives and other tools) to the extent that we had many futures, but no open future available.

Divergent Paths

The Academy and the Judiciary

Author: Richard A. Posner

Publisher: Harvard University Press

ISBN: 0674286030

Category: Law

Page: 414

View: 9173

Judges and legal scholars talk past one another, if they have any conversation at all. Academics criticize judicial decisions in theoretical terms, which leads many judges to dismiss academic discourse as divorced from reality. Richard Posner reflects on the causes and consequences of this widening gap and what can be done to close it.

Issues in Law and Economics

Author: Harold Winter

Publisher: University of Chicago Press

ISBN: 022624976X

Category: Business & Economics

Page: 240

View: 1713

Is file-sharing destroying the music industry? Should the courts encourage breach of contract? Does the threat of malpractice lawsuits cause doctors to provide too much medical care? Do judges discriminate when sentencing? With Issues in Law and Economics, Harold Winter takes readers through these and other recent and controversial questions. In an accessible and engaging manner, Winter shows these legal issues can be reexamined through the use of economic analysis. Using real-world cases to highlight issues, Winter offers step-by-step analysis, guiding readers through the identification of the trade-offs involved in each issue and assessing the economic evidence from scholarly research before exploring how this research may be used to guide policy recommendations. The book is divided into four sections, covering the basic practice areas of property, contracts, torts, and crime, with a fifth section devoted to a concise introduction to the topic of behavioral law and economics. Each chapter concludes with a series of thought-provoking discussion questions that provide readers the opportunity to further explore important ideas and concepts.

Last Resort

The Financial Crisis and the Future of Bailouts

Author: Eric A. Posner

Publisher: University of Chicago Press

ISBN: 022642023X

Category: Law

Page: 272

View: 2410

The bailouts during the recent financial crisis enraged the public. They felt unfair—and counterproductive: people who take risks must be allowed to fail. If we reward firms that make irresponsible investments, costing taxpayers billions of dollars, aren’t we encouraging them to continue to act irresponsibly, setting the stage for future crises? And beyond the ethics of it was the question of whether the government even had the authority to bail out failing firms like Bear Stearns and AIG. The answer, according to Eric A. Posner, is no. The federal government freely and frequently violated the law with the bailouts—but it did so in the public interest. An understandable lack of sympathy toward Wall Street has obscured the fact that bailouts have happened throughout economic history and are unavoidable in any modern, market-based economy. And they’re actually good. Contrary to popular belief, the financial system cannot operate properly unless the government stands ready to bail out banks and other firms. During the recent crisis, Posner agues, the law didn’t give federal agencies sufficient power to rescue the financial system. The legal constraints were damaging, but harm was limited because the agencies—with a few exceptions—violated or improvised elaborate evasions of the law. Yet the agencies also abused their power. If illegal actions were what it took to advance the public interest, Posner argues, we ought to change the law, but we need to do so in a way that also prevents agencies from misusing their authority. In the aftermath of the crisis, confusion about what agencies did do, should have done, and were allowed to do, has prevented a clear and realistic assessment and may hamper our response to future crises. Taking up the common objections raised by both right and left, Posner argues that future bailouts will occur. Acknowledging that inevitability, we can and must look ahead and carefully assess our policy options before we need them.

Economic Analysis of Law

Author: Richard A. Posner

Publisher: Wolters Kluwer Law & Business

ISBN: 1454845538

Category: Law

Page: 1056

View: 7924

Lucid, comprehensive, and definitive in its field, this text covers every aspect of economic analysis of the law. Features: Two new chapters, one on intellectual property, one on international and comparative law, both exploding fields of great importance. Earlier editions' questions have been converted to answers, making the book more accessible and informative. Revised to be clearer and less technical. More eclectic, reflecting recent criticisms of "rational choice" theory, in particular the need to supplement it with insights from psychology. Greater attention paid to judicial behavior, realistically modeled and explained in economic terms. Incorporates insights from the veritable explosion of books and articles published in the last few years on economic analysis of law.

From Goods to a Good Life

Intellectual Property and Global Justice

Author: Madhavi Sunder

Publisher: Yale University Press

ISBN: 030014671X

Category: Law

Page: 256

View: 3349

A law professor draws from social and cultural theory to defend her idea that that intellectual property law affects the ability of citizens to live a good life and prohibits people from making and sharing culture.

Game Theory in Jurisprudence

Author: Wojciech Załuski

Publisher: N.A

ISBN: 9788378860358

Category: Law

Page: 353

View: 5570

Game theory is a branch of mathematics that studies strategic interactions, i.e., interactions which involve more than one agent and in which each agent makes her/his decision while striving to predict the decisions of other agents. Game theory has been successfully applied in many areas of both the natural and social sciences, and it is the belief of this book's author that it can also be gainfully invoked in the area of legal philosophy. In this book, Wojciech Zaluski analyzes legal-philosophical concepts - such as legal interpretation, justice, legal rights, contract law, tort law, and property law - through the lens of game theory. The book appeals mainly to game theory's conceptual rather than the technical side, and intertwines game-theoretical analysis with the philosophical. It will be accessible to a wider circle of readers interested in legal and moral philosophy.

Realizing Utopia

The Future of International Law

Author: Antonio Cassese

Publisher: OUP Oxford

ISBN: 0191627712

Category: Law

Page: 724

View: 4618

Realizing Utopia is a collection of essays by a group of innovative international jurists. Its contributors reflect on some of the major legal problems facing the international community and analyse the inconsistencies or inadequacies of current law. They highlight the elements - even if minor, hidden, or emerging - that are likely to lead to future changes or improvements. Finally, they suggest how these elements can be developed, enhanced, and brought to fruition in the next two or three decades, with a view to achieving an improved architecture of world society or, at a minimum, to reshaping some major aspects of international dealings. Contributions to the book thus try to discern the potential, in the present legal construct of world society, that might one day be brought to light in a better world. As the impact of international law on national legal orders continues to increase, this volume takes stock of how far international law has come and how it should continue to develop. The work features an impressive list of contributors, including many of the leading authorities on international law and several judges of the International Court of Justice.

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