The Economic Dynamics of Law
Cambridge University Press, 6/18/2012
EAN 9781107004856, ISBN10: 1107004853
Hardcover, 250 pages, 22.9 x 15.7 x 2 cm
Language: English
This book offers a dynamic theory of law and economics focused on change over time, aimed at avoiding significant systemic risks (like financial crises and climate disruption) and implemented through a systematic analysis of law's economic incentives and how people actually respond to them. This theory offers a new vision of law as fundamentally a macro-level enterprise establishing normative commitments and a framework for numerous private transactions, rather than as an analogue to a market transaction. It explains how neoclassical law and economics sparked decades of deregulation culminating in the 2008 financial collapse. It then shows how economic dynamic theory helps scholars and policymakers make wise choices about how to avoid future catastrophes while keeping open a robust set of economic opportunities, with individual chapters addressing the law and economics of financial regulation, contract, property, intellectual property, antitrust, national security and climate disruption.
1. Introduction
2. Neoclassical law and economics
3. The economic collapse of 2008
4. Economic dynamic theory
5. Financial regulation
6. Contract law's inefficiency
7. Property law
a macroeconomic view
8. Intellectual property
economic dynamic scholarship and neoclassical law
9. Size matters
antitrust, empowerment, and systemic risk
10. On the dangers of ignoring the economic dynamics of national security
11. Climate disruption
an economic dynamic approach
12. Conclusion.