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The Economics of Lawmaking (Hardcover)
Loot Price: R2,285
Discovery Miles 22 850
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The Economics of Lawmaking (Hardcover)
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The Economics of Lawmaking explores the relative advantages and
limits of alternative sources of law. Professors Francesco Parisi
and Vincy Fon view the sources of law through a law and economics
lens, and consider the important issue of institutional design in
lawmaking. They consider the respective advantages and proper scope
of application of four fundamental sources of law: legislation,
judge-made law, customary law, and international law. The defining
features of these four sources of law are examined using the formal
methods of public choice theory: lawmaking through legislation;
lawmaking through adjudication; lawmaking through practice; and
lawmaking through agreement.
This book begins by examining the sources of law dependent on
collective political decision-making, such as legislation. Multiple
issues are considered, such as optimal specificity of law, optimal
timing of legal intervention and optimal territorial scope of law,
and include a thorough discussion on the sources of law derived
from judges' decisions, such as common law. Parisi and Fon provide
an extensive study on the roles of litigation and judicial
path-dependence on judge-made law, biases in the evolution of legal
remedies through litigation, and the effect of alternative
doctrines of legal precedent, such as stare decisis and
jurisprudence constante. They also consider the customary sources
of law, with special attention on the mechanisms that determine
their emergence and evolution, and explore sources of law derived
from international treaties and conventions. The Economics of
Lawmaking is the first systematic law and economics treatment of
this field and will shed new light on the process of lawmaking.
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