This collection, first published in 2000, brings together essays by some of the most prominent scholars currently writing in commercial law theory. The essays address the foundations of efficiency analysis as the dominant theoretical paradigm in contemporary corporate and commercial law scholarship. Some of the questions addressed in the volume are: What are the historical roots of efficiency analysis in contract, sales, and corporate law? Is moral theory irrelevant to efficiency analysis in these areas; if relevant, are morality and efficiency compatible? Even if efficiency is otherwise reasonable as a normative goal in corporate and commercial law, does the complexity of efficiency make it practical to administer in adjudication? What is the best way of pursuing efficiency in corporate and commercial law? The volume reflects the most exciting work being done in contemporary legal theory. It will be of interest to professionals and students in law and philosophy of law.

This collection brings together new essays by some of the most prominent scholars currently writing in commercial law theory. The essays address the foundations of efficiency analysis as the dominant theoretical paradigm in contemporary corporate and commercial law scholarship. The volume addresses such questions as: is moral theory irrelevant to efficiency analysis in these areas; if relevant, are morality and efficiency compatible? What is the best way of pursuing efficiency in corporate and commercial law? The volume reflects the most exciting work being done in contemporary legal theory. It will be of interest to professionals and students in law and philosophy of law.

This 1994 book constitutes a sustained, comprehensive, and rigorous critique of contemporary Hobbesian contractarianism as expounded in the work of Jean Hampton, Gregory Kavka, and David Gauthier. Professor Kraus argues that the attempts by these three philosophers to use Hobbes to answer current political and moral questions fail. The reasons why they fail are related to fundamental problems intrinsic to Hobbesian contractarianism: first, the problem of collective action arising out of the tension in Hobbes's theory between individual and collective rationality; second, the classical problem of explaining the normative force of hypothetical action, a problem that can be traced to the conflicting strategies of hypothetical justification found in Rawls's and Hobbes's theories. Given the deep interest in Hobbesian contractarianism among philosophers, political theorists, game theorists in economics and political science, and legal theorists, this book is likely to attract wide attention and infuse life into the contractarian debate.

This 1994 book constitutes a sustained, comprehensive, and rigorous critique of contemporary Hobbesian contractarianism as expounded in the work of Jean Hampton, Gregory Kavka, and David Gauthier. Professor Kraus argues that the attempts by these three philosophers to use Hobbes to answer current political and moral questions fail. The reasons why they fail are related to fundamental problems intrinsic to Hobbesian contractarianism: first, the problem of collective action arising out of the tension in Hobbes's theory between individual and collective rationality; second, the classical problem of explaining the normative force of hypothetical action, a problem that can be traced to the conflicting strategies of hypothetical justification found in Rawls's and Hobbes's theories. Given the deep interest in Hobbesian contractarianism among philosophers, political theorists, game theorists in economics and political science, and legal theorists, this book is likely to attract wide attention and infuse life into the contractarian debate.