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Law and economics, or economic analysis of law, is the application of microeconomic theory to the analysis of law.The field emerged in the United States during the early 1960s, primarily from the work of scholars from the Chicago school of economics such as Aaron Director, George Stigler, and Ronald Coase.
Posner summarized his views on law and economics in his 1973 book The Economic Analysis of Law. [14] Today, although generally viewed as to the right in academia, Posner's pragmatism, his qualified moral relativism and moral skepticism, [27] and his affection for the thought of Friedrich Nietzsche set him apart from most American conservatives ...
He is a central figure in the development of the subfield of law and economics. He viewed law and economics as having two parts, the first "using the economists' approach and concepts to analyze the working of the legal system, often called the economic analysis of the law"; and the second "a study of the influence of the legal system on the ...
Richard Allen Epstein (born April 17, 1943) is an American legal scholar known for his writings on torts, contracts, property rights, law and economics, classical liberalism, and libertarianism. He is the Laurence A. Tisch Professor of Law at New York University and the director of the Classical Liberal Institute.
He currently is a member of American Law and Economics Association, American Economic Association, American Bar Association (associate member). A prolific writer, Ulen authored seven books (of which "Law and Economics" is a global leading textbook), more than seventy articles and tens of other materials (book chapters, essays, reviews).
Described by Walter Block as a "free-market anarchist" theorist, [3] Friedman has also authored several other books and articles, including Price Theory: An Intermediate Text (1986), Law's Order: What Economics Has to Do with Law and Why It Matters (2000), Hidden Order: The Economics of Everyday Life (1996), and Future Imperfect (2008). [4]
Law and economics is a school of legal thought that focuses on ensuring that legal processes produce the most efficient allocation of resources, rather than giving the enforcement of rights the highest priority. Individuals included under this category are noted for their theories or application of a law and economics perspective.
Since then, Liberty Fund has published more than 400 books exploring the idea of liberty across many disciplines, including economics, political thought, American history, law, and education. [14] As part of Liberty Fund’s commitment to the exchange of ideas, Liberty Fund keeps in print many titles that would otherwise be unavailable.
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