The key concept for normative economic analysis is efficiency , in particular, allocative efficiency. A common concept of efficiency used by law and economics scholars is Pareto efficiency.
Law and Economics
A legal rule is Pareto efficient if it could not be changed so as to make one person better off without making another person worse off. A weaker conception of efficiency is Kaldor-Hicks efficiency. A legal rule is Kaldor-Hicks efficient if it could be made Pareto efficient by some parties compensating others as to offset their loss. Guido Calabresi , judge for the U. A Legal and Economic Analysis has been cited as influential in its extensive treatment of the proper incentives and compensation required in accident situations.
The economic analysis of law has been influential in the United States as well as elsewhere.
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Judicial opinions use economic analysis and the theories of law and economics with some regularity, in the US but also, increasingly, in Commonwealth countries and in Europe. The influence of law and economics has also been felt in legal education, with graduate programs in the subject being offered in a number of countries. Many law schools in North America, Europe, and Asia have faculty members with a graduate degree in economics. In addition, many professional economists now study and write on the relationship between economics and legal doctrines.
Anthony Kronman, former dean of Yale Law School, has written that "the intellectual movement that has had the greatest influence on American academic law in the past quarter-century [of the 20th Century]" is law and economics. Despite its influence, the law and economics movement has been criticized from a number of directions. This is especially true of normative law and economics. Because most law and economics scholarship operates within a neoclassical framework, fundamental criticisms of neoclassical economics have been drawn from other, competing frameworks, though there are numerous internal critiques as well.
Critics of the law and economics movements have argued that normative economic analysis does not capture the importance of human rights and concerns for distributive justice. Some of the heaviest criticisms of the "classical" law and economics come from the critical legal studies movement, in particular Duncan Kennedy [11] and Mark Kelman. Relatedly, additional critique has been directed toward the assumed benefits of law and policy designed to increase allocative efficiency when such assumptions are modeled on "first-best" Pareto optimal general-equilibrium conditions.
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Rubin Postface by Richard A. Learn More about VitalSource Bookshelf. The Dilys Powell Film Reader by Edited by Christopher Cook Over the years several friends and relatives have bought me film readers from the publisher Carcanet, including works by CA Lejeune , Graham Greene and of course Philip French , all of which now occupy a special section of my bookshelf. Reading the work of critics like these has always been important to me, not least because it serves to remind me how elegant the medium can be.
With eye-opening candour, he explains how films can be lost, found and reshaped in post-production, blending technical knowledge with vast personal experience. Black American Cinema by Edited by Manthia Diawara Having studied English literature rather than film at Manchester University, I remain unqualified to talk about cinema other than as a lifelong enthusiast — something that only gets you so far.
In attempting to plug the vast academic gaps in my knowledge, this seminal collection of essays from the AFI [American Film Institute] readers series proved invaluable. This authoritative volume covers film-makers from Oscar Micheaux to Spike Lee , and is as relevant now as it was when first published.
Here was a thinker who was making clear that economics was inextricably linked with politics and that economists not only could, but should, take views on big social and political issues, should challenge prevailing beliefs and norms. That was very influential reading at such an early age. But what Hirschman said was that it can be even more powerful to stay and exercise your ability to complain. I found it a powerful idea when I read it at university and it was definitely influential in my thinking behind The Silent Takeover.
We ignore history and culture at our peril. She argues that the production of well-cared-for children is just as important as that of cars or crops. It triggered my interest in where gender and economics intersect and I went on to do work around who we value in society. I think there has been progress, but the whole caring economy still remains significantly undervalued. What all my authors have in common is that they straddle politics, ethics and history. Helena Kennedy QC is a Labour peer and an expert on human rights, civil liberties and the constitution.
She is chair of the Helena Kennedy Foundation, which promotes social inclusion in higher education.
Law and Economics: A Reader, 1st Edition (Paperback) - Routledge
My work is increasingly about human rights and this foundational document shows their development and reminds us why they matter. For example, it addresses the right to equal access to education. I believe human rights should be integrated into our daily lives by recognising that everyone has a right to life, liberty and security.
Now I have one shoulder that slopes down further than the other. The book sets out the law and is regularly brought up to date.
It explains the changing position on the killing of newborn infants and the law on joint enterprise. The fine print is incredibly important to the way in which you make legal argument, a journey of research that culminates in the use of relevant cases in court. The Rule of Law by Tom Bingham Bingham was the president of our supreme court, or the appellate division of the House of Lords, as it was then known.
He was a wonderful judge and an inspirational man and he wrote this very small book in which he sets down the meaning of the rule of law. On every page beautiful black-and-white photographs display the inhumanity of war, lynching in America, Belsen, poverty, events throughout the world. I learned human rights by sitting in cells, in immigrant detention centres, in refugee camps. She wrote a poem called Wild Geese, which is about how we are all connected, and you want to remind jurors of that connection, particularly on difficult cases.
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Poetry reaches parts that you otherwise cannot. In , she was Eccles writer in residence at the British Library. I read Orlando first, but my abiding love is for the five pastel-jacketed volumes of her diaries. She began on 1 January , writing after tea and using the notebooks as a laboratory for ideas, a place to catch stray thoughts and observations: As for that last, steadfast entry: His poems are a scourge to pomposity: I keep trying to put him in a book, but he wriggles away.
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All the same, he has my heart. He knew everyone, went everywhere, possessed a gimlet eye for the absurd and was never shy about dishing the dirt on friends and enemies alike. Originally begun as a way of logging his expenditure for the IRS, Warhol dictated the diary down the phone each morning to his secretary, Pat Hackett, which accounts for the wickedly giggly tone. Andy was the consummate mirror for his times, making this the best imaginable history of the glittering, vacuous s. Modern Nature by Derek Jarman It always strikes me as funny that the nature writing currently in vogue never involves any sex.