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Economics and the Law - from Posner to Post-Modernism

ISBN-10: 0691005443
ISBN-13: 9780691005447
Edition: 1999
List price: $34.95
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Description: The last several decades have witnessed the development of diverse approaches to the evolving field of Law and Economics. Each school of thought within Law and Economics has helped both to redefine the study of law and to expose the important  More...

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Book details

List price: $34.95
Copyright year: 1999
Publisher: Princeton University Press
Publication date: 1/10/1999
Binding: Paperback
Pages: 248
Size: 6.25" wide x 9.50" long x 0.75" tall
Weight: 0.748
Language: English

The last several decades have witnessed the development of diverse approaches to the evolving field of Law and Economics. Each school of thought within Law and Economics has helped both to redefine the study of law and to expose the important economic implications of the legal environment. Here, Nicholas Mercuro and Steven Medema present a valuable, concise overview of the current perspectives and varied traditions that constitute the field. The authors make clear that Law and Economics is not a homogeneous movement by deftly illuminating the several competing and yet complementary traditions, including the Chicago School of Law and Economics, Public Choice Theory, Institutional and Neo-Institutional Law and Economics, the New Haven School, and Modern Civic Republicanism, as well as the challenge to Law and Economics posed by Critical Legal Studies. By providing readers with a noncritical description of the broad contours of each school of thought, Mercuro and Medema convey a strong sense of the important elements of each of these interrelated yet varied traditions. The authors define Law and Economics broadly to include the application of economic theory (primarily microeconomics and the basic concepts of welfare economics) to the formation, structure, processes, and economic impact of law and legal institutions. Because the law and the economy interact across a variety of fronts, the fundamental insights of this burgeoning field have important implications, not only for economics and the law, but also for those in contiguous disciplines such as political science, public administration, and sociology.

Steven G. Medema is professor of economics at the University of Colorado Denver. His many books include "Economics and the Law: From Posner to Post-Modernism and Beyond" (Princeton).

The jurisprudential niche of law and economics
Chicago law and economics
Public choice theory
Institutional law and economics
Neoinstitutional law and economics
Critical legal studies
Continuous development and continuing concerns

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