This research review examines some of the most important articles on the topic of law and economics. Although the wealth of scholarship and the steady expansion of the field make the task of selecting representative works a challenge, the growth rate underscores the relevance and importance of the economic approach to the theory and practice of law. In this essay, therefore, we offer a survey of this vast interdisciplinary movement, exploring its rapid assimilation of disparate legal subject matters. We cannot hope to cover every major result discovered over the course of several decades in the space available. However, we hope to convey at least a general sense of what law and economics is, how it can inform real-world adjudication, and how it developed over the decades.
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Glen Atkinson and Stephen P. Paschall
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.
Edited by Claude Ménard and Elodie Bertrand
Ronald H. Coase was one of the most innovative and provocative economists of the twentieth century. Besides his best known papers on ‘The Nature of the Firm’ and ‘The Problem of Social Cost’, he had a major role in the development of the field of law and economics, and made numerous influential contributions to topics including public utilities, regulation and the functioning of markets. In this comprehensive Companion, 31 leading economists, social scientists and legal scholars assess the impact of his work with particular reference to the research programs initiated, the influence on policymakers, and the challenge to conventional perspectives.