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Author: Klaus Mathis
Publisher: Springer Science & Business Media
ISBN: 1402097980
Category : Law
Languages : en
Pages : 222
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Book Description
Economic analysis of law is an interesting and challenging attempt to employ the concepts and reasoning methods of modern economic theory so as to gain a deeper understanding of legal problems. According to Richard A. Posner it is the role of the law to encourage market competition and, where the market fails because transaction costs are too high, to simulate the result of competitive markets. This would maximize economic efficiency and social wealth. In this work, the lawyer and economist Klaus Mathis critically appraises Posner’s normative justification of the efficiency paradigm from the perspective of the philosophy of law. Posner acknowledges the influences of Adam Smith and Jeremy Bentham, whom he views as the founders of normative economics. He subscribes to Smith’s faith in the market as an ideal allocation model, and to Bentham’s ethical consequentialism. Finally, aligning himself with John Rawls’s contract theory, he seeks to legitimize his concept of wealth maximization with a consensus theory approach. In his interdisciplinary study, the author points out the possibilities as well as the limits of economic analysis of law. It provides a method of analysing the law which, while very helpful, is also rather specific. The efficiency arguments therefore need to be incorporated into a process for resolving value conflicts. In a democracy this must take place within the political decision-making process. In this clearly written work, Klaus Mathis succeeds in making even non-economists more aware of the economic aspects of the law.
Author: Klaus Mathis
Publisher: Springer Science & Business Media
ISBN: 1402097980
Category : Law
Languages : en
Pages : 222
Get Book Here
Book Description
Economic analysis of law is an interesting and challenging attempt to employ the concepts and reasoning methods of modern economic theory so as to gain a deeper understanding of legal problems. According to Richard A. Posner it is the role of the law to encourage market competition and, where the market fails because transaction costs are too high, to simulate the result of competitive markets. This would maximize economic efficiency and social wealth. In this work, the lawyer and economist Klaus Mathis critically appraises Posner’s normative justification of the efficiency paradigm from the perspective of the philosophy of law. Posner acknowledges the influences of Adam Smith and Jeremy Bentham, whom he views as the founders of normative economics. He subscribes to Smith’s faith in the market as an ideal allocation model, and to Bentham’s ethical consequentialism. Finally, aligning himself with John Rawls’s contract theory, he seeks to legitimize his concept of wealth maximization with a consensus theory approach. In his interdisciplinary study, the author points out the possibilities as well as the limits of economic analysis of law. It provides a method of analysing the law which, while very helpful, is also rather specific. The efficiency arguments therefore need to be incorporated into a process for resolving value conflicts. In a democracy this must take place within the political decision-making process. In this clearly written work, Klaus Mathis succeeds in making even non-economists more aware of the economic aspects of the law.
Author: Daniel P. Mears
Publisher: Cambridge University Press
ISBN: 110716169X
Category : Law
Languages : en
Pages : 325
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Book Description
This book shows how to reduce out-of-control criminal justice and create greater public safety, justice, and accountability at less cost.
Author: Richard A. Posner
Publisher: Harvard University Press
ISBN: 9780674235267
Category : Law
Languages : en
Pages : 436
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Book Description
Posner uses economic analysis to probe justice and efficiency, primitive law, privacy, and the constitutional regulation of racial discrimination.
Author: Wouter Wils
Publisher: Bloomsbury Publishing
ISBN: 1847314139
Category : Law
Languages : en
Pages : 230
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Book Description
In the last few years, the public enforcement of Articles 81 and 82 EC has been thoroughly transformed: the competition authorities of the EU Member States have become active enforcers within the European Competition Network, the European Commission has imposed more and higher fines than ever before, leniency has become a major instrument of cartel detection, and some Member States have introduced criminal penalties. The overall trend towards more and stronger enforcement of Articles 81 and 82 EC has also rekindled discussion on the old question of how to strike the right balance between efficient enforcement and adequate protection of the rights of the defence. This book brings together six essays which analyse from both a legal and an economic perspective the powers of investigation of the European Commission and the competition authorities of the Member States, and the corresponding procedural rights and guarantees, the use of settlements, the theory and practice of fines and of leniency, and the criminalization of European antitrust enforcement.
Author: Hector Fix-Fierro
Publisher: Bloomsbury Publishing
ISBN: 1847310559
Category : Law
Languages : en
Pages : 280
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Book Description
This study explores the socio-legal context of economic rationality in the legal and judicial systems. It examines the meaning and relevance of the concept of efficiency for the operation of courts and court systems,seeking to answer questions such as: in what sense can we say that the adjudicative process works efficiently? What are the relevant criteria for the measurement and assessment of court efficiency? Should the courts try to operate efficiently and to what extent is this viable? What is the proper relationship between 'efficiency' and 'justice' considerations in a judicial proceeding? To answer these questions, a conceptual framework is developed on the basis of empirical studies and surveys carried out mainly in the United States, Western Europe and Latin America. Two basic ideas emerge from it. First, economic rationality has penetrated the legal and judicial systems at all levels and dimensions, from the level of society as a whole to the day-to-day operation of the courts, from the institutional dimension of adjudication to the organizational context of judicial decisions. Far from being an alien value in the judicial process, efficiency has become an inseparable part of the structure of expectations we place on the legal system. Second, economic rationality is not the prevalent value in legal decision-making, as it is subject to all kinds of constraints, local conditions and concrete negotiations with other values and interests.
Author: Arthur M. Okun
Publisher: Brookings Institution Press
ISBN: 0815726546
Category : Business & Economics
Languages : en
Pages : 171
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Book Description
Originally published in 1975, Equality and Efficiency: The Big Tradeoff is a very personal work from one of the most important macroeconomists of the last hundred years. And this new edition includes "Further Thoughts on Equality and Efficiency," a paper published by the author two years later. In classrooms Arthur M. Okun may be best remembered for Okun's Law, but his lasting legacy is the respect and admiration he earned from economists, practitioners, and policymakers. Equality and Efficiency is the perfect embodiment of that legacy, valued both by professional economists and those readers with a keen interest in social policy. To his fellow economists, Okun presents messages, in the form of additional comments and select citations, in his footnotes. To all readers, Okun presents an engaging dual theme: the market needs a place, and the market needs to be kept in its place. As Okun puts it: Institutions in a capitalist democracy prod us to get ahead of our neighbors economically after telling us to stay in line socially. This double standard professes and pursues an egalitarian political and social system while simultaneously generating gaping disparities in economic well-being. Today, Okun's dual theme feels incredibly prescient as we grapple with the hot-button topic of income inequality. In his foreword, Lawrence H. Summers declares: On what one might think of as questions of "economic philosophy," I doubt that Okun has been improved on in the subsequent interval. His discussion of how societies rely on rights as well as markets should be required reading for all young economists who are enamored with market solutions to all problems. With a new foreword by Lawrence H. Summers
Author: Anna Olijnyk
Publisher: Bloomsbury Publishing
ISBN: 1509910905
Category : Law
Languages : en
Pages : 390
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Book Description
Justice and Efficiency in Mega-Litigation explores the phenomenon of extremely long-running, resource-intensive civil litigation known as 'mega-litigation'. Such litigation challenges the courts to reconcile the objectives of justice and efficiency – for the parties to the case and for the community. Drawing on interviews with judges of the courts of England and Wales, and of Australia, this book shows how judges have responded to these challenges. It situates mega-litigation within broader developments in civil procedure and case management, as well as theoretical debates about the role of courts and the purpose of civil procedure. The book highlights the importance of intensive, creative and flexible case management; focus on the issues in dispute; and, ultimately, each judge's expert intuition.
Author: Anna Olijnyk
Publisher: Bloomsbury Publishing
ISBN: 1509910913
Category : Law
Languages : en
Pages : 239
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Book Description
Justice and Efficiency in Mega-Litigation explores the phenomenon of extremely long-running, resource-intensive civil litigation known as 'mega-litigation'. Such litigation challenges the courts to reconcile the objectives of justice and efficiency – for the parties to the case and for the community. Drawing on interviews with judges of the courts of England and Wales, and of Australia, this book shows how judges have responded to these challenges. It situates mega-litigation within broader developments in civil procedure and case management, as well as theoretical debates about the role of courts and the purpose of civil procedure. The book highlights the importance of intensive, creative and flexible case management; focus on the issues in dispute; and, ultimately, each judge's expert intuition.
Author: G. A. Cohen
Publisher: Harvard University Press
ISBN: 0674029658
Category : Philosophy
Languages : en
Pages : 449
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Book Description
In this stimulating work of political philosophy, acclaimed philosopher G. A. Cohen sets out to rescue the egalitarian thesis that in a society in which distributive justice prevails, people’s material prospects are roughly equal. Arguing against the Rawlsian version of a just society, Cohen demonstrates that distributive justice does not tolerate deep inequality. In the course of providing a deep and sophisticated critique of Rawls’s theory of justice, Cohen demonstrates that questions of distributive justice arise not only for the state but also for people in their daily lives. The right rules for the macro scale of public institutions and policies also apply, with suitable adjustments, to the micro level of individual decision-making. Cohen also charges Rawls’s constructivism with systematically conflating the concept of justice with other concepts. Within the Rawlsian architectonic, justice is not distinguished either from other values or from optimal rules of social regulation. The elimination of those conflations brings justice closer to equality.
Author: Shahla F. Ali
Publisher: Edward Elgar Publishing
ISBN: 1786435861
Category : Law
Languages : en
Pages : 237
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Book Description
As judiciaries advance, exploring how court mediation programs can provide opportunities for party-directed reconciliation whilst ensuring access to formal legal channels requires careful investigation. Court Mediation Reform explores comparative empirical findings in order to examine the association between court mediation structure and perceptions of justice, efficiency and confidence in courts.
