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The Rise of Law and Economics
This is a history-though, intentionally, a brief history-of the rise of law and economics as a field of thought in the U.S. college and law school academy, though the field has expanded to Europe and South America and will expand further as other legal systems develop.
This book explains the origins of the field and the sources of its growth during its formative period. It describes the intellectual roots of the field, and the field's relationship to the understanding of the role of the legal system in directing the functioning of the economy. It describes the effect of the Great Depression and the expansion of governmental power on advancing the functional approach. The book then addresses the work of Aaron Director, during the late 1950s, on focusing economic analysis as a means of understanding the effects of the legal and regulatory system on the allocation of resources in the society. Then it turns to the subsequent intellectual founders of the field-Ronald Coase, Guido Calabresi, and Richard Posner-and attempts to explain the significance of their work. It also discusses the efforts of Robert Bork and Henry Manne toward the influence of law and economics on public policy. The book ends with the founding of the American Law and Economics Association in 1991.
This is an essential companion to law and economics texts for undergraduate law and economic students and, especially, a general supplement to first-year casebooks for law school students.
eBook
Legal pluralism and development : scholars and practitioners in dialogue
\"This book brings together contributions from academics and practitioners to explore the implications of legal pluralism for legal development\"-- Provided by publisher.
Book
Law and Long-Term Economic Change
Recently, a growing body of work on \"law and finance\" and \"legal origins\" has highlighted the role of formal legal institutions in shaping financial institutions. However, these writings have focused largely on Europe, neglecting important non-Western traditions that prevail in a large part of the world.Law and Long-Term Economic Change brings together a group of leading scholars from economics, economic history, law, and area studies to develop a unique, global and, long-term perspective on the linkage between law and economic change.
Covering the regions of Western Europe, East and South Asia, and the Middle East, the chapters explore major themes regarding the nature and evolution of different legal regimes; their relationship with the state or organized religion; the definition and interpretation of ownership and property rights; the functioning of courts, and other mechanisms for dispute resolution and contract enforcement; and the complex dynamics of legal transplantations through processes such as colonization. The text makes clear that the development of legal traditions and institutions-as embodiments of cultural values and norms-exerts a strong effect on long-term economic change. And it demonstrates that a good understanding of legal origins around the world enriches any debate about Great Divergence in the early modern era, as well as development and underdevelopment in 19th-20th century Eurasia.
eBook
Law and development of middle-income countries : avoiding the middle-income trap
\"In 1960, there were 101 middle-income countries. By 2008, only thirteen of these had become high-income countries. Why do so many middle-income countries fail to develop after a promising start, becoming mired in the so-called middle-income trap? This interdisciplinary volume addresses the special challenges that middle-income countries confront from both a theoretical and a practical perspective. It is the first volume that addresses law and development issues in middle-income countries from the perspective of political, administrative, and legal institutions and policies. The goal is to provide international development agencies and domestic policy makers with feasible recommendations to address the wide range of technically, politically, and socially complex issues that middle-income countries face\"-- Provided by publisher.
Book
The moral economy : why good incentives are no substitute for good citizens
Should the idea of economic man-the amoral and self-interested Homo economicus-determine how we expect people to respond to monetary rewards, punishments, and other incentives? Samuel Bowles answers with a resounding \"no.\" Policies that follow from this paradigm, he shows, may \"crowd out\" ethical and generous motives and thus backfire. But incentives per se are not really the culprit. Bowles shows that crowding out occurs when the message conveyed by fines and rewards is that self-interest is expected, that the employer thinks the workforce is lazy, or that the citizen cannot otherwise be trusted to contribute to the public good. Using historical and recent case studies as well as behavioral experiments, Bowles shows how well-designed incentives can crowd in the civic motives on which good governance depends
eBook
Research handbook on the economics of insurance law
Insurance law and insurance economics each have long and distinguished scholarly histories, but participants in the two disciplines have not always communicated well across academic silos. This handbook encourages more policy-relevant insurance economics scholarship and more economically-sophisticated legal scholarship by bringing together original contributions from leading scholars in insurance law and insurance economics on a range of issues involving insurance law and regulation.
Book
The Evolution of Law and Economics in Korea
Law and economics was formally introduced to South Korea in the mid-1980s. It was adopted relatively quickly compared to other Asian countries, and both research and education have been actively pursued. As a result, the Korean Law and Economics Association was founded in 2002, promoting research within the country, and many Korean scholars played a significant role in the establishment and development of the Asian Law and Economics Association, founded in 2005. The growth of the law and economics community in Korea can be attributed to the efforts of many pioneering scholars, as well as the smooth interaction between economics and law within academia and practice. To ensure the continued development of this field, it is essential to enhance understanding between economics and law and to sustain efforts to attract new scholars.
Journal Article
Economic Principles of Law
Economic Principles of Law, first published in 2007, applies economics to the doctrines, rules and remedies of the common law. In plain English and using non-technical analysis, it offers an introduction and exposition of the 'economic approach' to law - one of the most exciting and vibrant fields of legal scholarship and applied economics. Beginning with a brief history of the field, it sets out the basic economic concepts useful to lawyers, and applies these to assess the core areas of the common law - property, contract, tort and crime - with particular emphasis on their doctrinal structure and remedies. This is done using leading cases drawn from the birthplace of the common law (England & Wales) and other common law jurisdictions. The book serves as a primer to the wider use of economics which has become increasingly important for law students, lawyers, legislators, regulators and those concerned with our legal system generally.
eBook