ABSTRACT
The John M. Olin Foundation, especially under the direction of its President, James R. Piereson, was an extraordinary sponsor of law and economics and greatly contributed to its success. In the succeeding years, as the field of law and economics was expanding built on the achievements of Ronald Coase, Guido Calabresi, Richard Posner, and others from the 1960s through the 1980s, there was substantial talk among members of the field about the formation of a more formal law and economics association. A separate faction along with Steven. Shavell and Mitch Polinsky, wanted the new law and economics association to be modeled on the American Economic Association, with open attendance by academics, the presentation of submitted papers in convened panels, discussion open to all attending, with no particular representation of judges or attorneys. The agenda for the organizing meeting provided that the assembled group was to select the first President of what was to become the American Law and Economics Association.
