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Books > Law > Jurisprudence & general issues > Legal history
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Law and Economics from an Evolutionary Perspective (Hardcover)
Loot Price: R2,966
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Law and Economics from an Evolutionary Perspective (Hardcover)
Series: New Horizons in Institutional and Evolutionary Economics series
Expected to ship within 12 - 19 working days
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'The global financial crisis of 2007-2008 was a wake-up call to all
who study and practice in the field of law and economics:
traditional approaches are simply inadequate for understanding the
co-evolution of the economic and legal systems, and that inadequacy
can result in missed opportunities to warn of impending social
harm. Atkinson and Paschall demonstrate the value of an alternative
approach - law and economics from an evolutionary perspective -
that builds on the work of John R. Commons, a leading figure in the
field nearly a century ago. In the process, they offer an
eye-opening historical account of the role of the state in the
economy and provide a vital starting point for future policy
discussions.' - Charles J. Whalen, author of Financial Instability
and Economic Security after the Great Recession'An indispensable
history of business law and regulation, alongside a powerful theory
of law and the courts. Glen Atkinson and Stephen P. Paschall give
us an evolutionary casebook for the twenty-first century, deeply
rooted in the ideas of Veblen, Commons, and other masters of the
tradition.' - James K. Galbraith, The University of Texas at Austin
'The language of court documents is notably difficult to understand
for people with no legal training. The present volume, a product of
fruitful collaboration between a university professor and a lawyer,
offers valuable assistance in translating US Supreme Court
decisions made in the span of the nineteenth and twentieth
centuries with respect to economic disputes into the language
spoken by evolutionary and institutional economists. As the authors
persuasively show, law and economics co-evolve. A much-needed
follow-up to and development of John Commons's Legal Foundations of
Capitalism! - Anton Oleinik, Memorial University of Newfoundland
and Labrador, Canada and the Central Economics and Mathematics
Institute, Russia Law and economics are interdependent. Using a
historical case analysis approach, this book demonstrates how the
legal process relates to and is affected by economic circumstances.
Glen Atkinson and Stephen P. Paschall examine this co-evolution in
the context of the economic development that occurred in the
nineteenth and early twentieth centuries as well as the impact of
the law on that development. Specifically, the authors explore the
development of a national market, the transformation of the
corporation, and the conflict between state and federal control
over businesses. Their focus on dynamic, integrated systems
presents an alternative to mainstream law and economics. The
authors apply John R. Commons's approach to three main law and
economics issues: the changing relationship between corporations
and the State, the application of the Commerce Clause and the
Fourteenth Amendment of the U.S. Constitution to state and federal
regulation of business, and the relationship of antitrust law to
industrialization. They provide a valuable linking of law with
changing economic circumstances, such as antitrust policy changes
and the development of the corporate form. This analytical approach
to the practice of law and economics will be of interest to
researchers, students, and faculty in law and economics, economic
history, constitutional law, economic regulation, public policy,
and the sociology of law. Business students and researchers will
also find value in this book's presentation of court decisions and
exploration of economic development.
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