Searching for the Philosophical Foundations of the Economic Analysis of Law

The economic analysis of law (EAL) is a field of study that seeks to use economic theory to understand legal rules and institutions. EAL scholars argue that economic theory can provide insights into the efficiency, fairness, and justice of legal rules, and can help to identify ways to improve the legal system.

Efficiency Instead of Justice?: Searching for the Philosophical Foundations of the Economic Analysis of Law (Law and Philosophy Library Book 84)

5 out of 5

Language	:	English
File size	:	2367 KB
Text-to-Speech	:	Enabled
Word Wise	:	Enabled
Print length	:	235 pages

FREE

However, there is no single, universally accepted philosophical foundation for EAL. Different EAL scholars have different views on the nature of law, the role of economics in legal analysis, and the ultimate goals of EAL. This book explores the different philosophical foundations of EAL, and examines the strengths and weaknesses of each approach.

Chapter 1: The Nature of Law

The first chapter of the book examines the different ways in which law can be conceived. EAL scholars have argued that law is a system of rules, a set of institutions, or a social practice. Each of these conceptions of law has different implications for the way in which EAL is conducted.

For example, if law is conceived as a system of rules, then EAL scholars will focus on the efficiency and fairness of individual legal rules. If law is conceived as a set of institutions, then EAL scholars will focus on the efficiency and fairness of the legal system as a whole. And if law is conceived as a social practice, then EAL scholars will focus on the way in which law interacts with other social institutions, such as the economy, the family, and religion.

Chapter 2: The Role of Economics in Legal Analysis

The second chapter of the book examines the different roles that economics can play in legal analysis. EAL scholars have argued that economics can be used to describe, explain, predict, and evaluate legal rules and institutions. Each of these roles has different implications for the way in which EAL is conducted.

For example, if economics is used to describe legal rules and institutions, then EAL scholars will focus on the economic consequences of those rules and institutions. If economics is used to explain legal rules and institutions, then EAL scholars will focus on the economic factors that led to the creation of those rules and institutions. And if economics is used to predict legal rules and institutions, then EAL scholars will focus on the economic consequences of potential changes to those rules and institutions.

Chapter 3: The Ultimate Goals of EAL

The third chapter of the book examines the different ultimate goals of EAL. EAL scholars have argued that the ultimate goal of EAL is to promote efficiency, fairness, justice, or some combination of these goals. Each of these goals has different implications for the way in which EAL is conducted.

For example, if the ultimate goal of EAL is to promote efficiency, then EAL scholars will focus on the economic costs and benefits of legal rules and institutions. If the ultimate goal of EAL is to promote fairness, then EAL scholars will focus on the distribution of the benefits and burdens of legal rules and institutions. And if the ultimate goal of EAL is to promote justice, then EAL scholars will focus on the moral principles that underlie legal rules and institutions.

The book concludes by arguing that there is no single, universally accepted philosophical foundation for EAL. Different EAL scholars have different views on the nature of law, the role of economics in legal analysis, and the ultimate goals of EAL. This diversity of perspectives is a strength of EAL, as it allows for a wide range of approaches to the study of law.

Efficiency Instead of Justice?: Searching for the Philosophical Foundations of the Economic Analysis of Law (Law and Philosophy Library Book 84)

5 out of 5

Language	:	English
File size	:	2367 KB
Text-to-Speech	:	Enabled
Word Wise	:	Enabled
Print length	:	235 pages

FREE