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Vol 23 No 5 May/June 2018

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Drafting Commercial Agreements

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The Economic Structure of the Law: V. 1

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ISBN13: 9781858986418
ISBN: 1858986419
Published: December 2000
Publisher: Edward Elgar Publishing Limited
Format: Hardback
Price: £110.00

Judge Richard A. Posner is internationally regarded as a leading exponent and founding father of the law and economics movement. This volume draws together a selection of his most important papers on the methodology and the theory of law and economics. The themes explored in this book include: the economics of common law; the criterion of wealth maximization; an economic approach to judicial rulemaking; the application of finance theory to law; and the methodology of law and economics.

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Part 1 The methodology of law and economics: the law and economics movement; Ronald Coase and methodology; Gary Becker's contributions to law and economics; the economic approach to law; the new institutional economics meets law and economics; reply (to Coase and Williamson); the sociology of the sociology of law - a view from economics; some uses and abuses of economics in law.
Part 2 Wealth maximization and the law: the justice of economics; utilitarianism, economics and legal theory; law and economics ""is"" moral; rebuttal to Malloy; wealth maximization revisited; the ethics of wealth maximization - reply to Malloy.
Part 3 Court and judicial rulemaking: what do judges and justices maximize? (the same thing everyone else does); an economic analysis of legal rulemaking; an economic approach to legal procedure and judicial administration; toward an economic theory of federal jurisdiction; comment - responding to Gordon Tullock.
Part 4 The application of finance theory to law: law and the theory of finance - some intersections; market funds and trust investment law; social investing and the law of trusts.