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      Book

      The Rise of Law and Economics
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      Book

      The Rise of Law and Economics

      DOI link for The Rise of Law and Economics

      The Rise of Law and Economics book

      An Intellectual History

      The Rise of Law and Economics

      DOI link for The Rise of Law and Economics

      The Rise of Law and Economics book

      An Intellectual History
      ByGeorge L. Priest
      Edition 1st Edition
      First Published 2020
      eBook Published 24 March 2020
      Pub. Location London
      Imprint Routledge
      DOI https://doi.org/10.4324/9780429322945
      Pages 130
      eBook ISBN 9780429322945
      Subjects Economics, Finance, Business & Industry, Humanities, Law
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      Priest, G.L. (2020). The Rise of Law and Economics: An Intellectual History (1st ed.). Routledge. https://doi.org/10.4324/9780429322945

      ABSTRACT

      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.

      TABLE OF CONTENTS

      chapter 1|6 pages

      Introduction

      chapter 2|5 pages

      The early development of the functional approach to law

      chapter 3|15 pages

      The problems of the Depression and the broader acceptance of the functional approach to law

      chapter 4|8 pages

      The birth of modern law and economics as a discipline

      chapter 5|16 pages

      The revolutionary expansion of law and economics

      Ronald H. Coase

      chapter 6|10 pages

      Calabresi and the economic framework of The Costs of Accidents

      chapter 7|13 pages

      Law and economics made dominant

      Richard A. Posner and Economic Analysis of Law

      chapter 8|7 pages

      Coase, Calabresi, and Posner compared

      chapter 9|11 pages

      The influence of law and economics on regulation and antitrust law

      chapter 10|6 pages

      Henry Manne and the popular expansion of law and economics

      chapter 11|3 pages

      Epilogue

      The John M. Olin Foundation and the founding of the American Law and Economics Association
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