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The Rise of Law and Economics - An Intellectual History (Paperback)
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The Rise of Law and Economics - An Intellectual History (Paperback)
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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.
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