Law's Order: What Economics Has to Do with Law and Why It Matters

Features

• Cover Type: Paperback with 344 pages
• Published by: Princeton University Press November 1, 2001
• Written in: English
• ISBN 10 Number: 0691090092
• ISBN 13 Number: 978-0691090092
• Book Dimensions: 8.9 x 6 x 0.9 inches
• Weighs: 15.2 ounces

From Library Journal
Friedman, a professor at the University of Santa Clara School of Law who holds a Ph.D. in economics from the University of Chicago, advocates an economic analysis of law and further suggests that there is a strong correspondence between efficiency and justice. Since efficiency is the foundation of modern economics, he argues, economics can be used to explain and shape the law in ways that can benefit us all. Especially insightful is the author's application of this theory to tort and contract law, which impose obligations based upon law and mutual consent, respectively. Friedman shows formulae for dispute resolution in these and other areas of the law. His approach is modeled upon the teachings of noted British economist Ronald Coase, whose theorem on transaction costs has formed the basis for analysis of economic problems arising from tort and contract litigation for the last forty years. The book's specialized audience includes students of law and economics served by academic and law libraries and perhaps private firm libraries whose staff serve client requirements in the two aforementioned areas of litigation.
-Philip Y. Blue, New York State Supreme Court Criminal Branch Law Lib., New York
Copyright 2000 Reed Business Information, Inc. --This text refers to an out of print or unavailable edition of this title.

From Booklist
The author sets out to provide an economic analysis of law. We learn that economics, whose fundamental issue is the implications of rational choice, is an essential tool for figuring out the effects of legal rules. Knowing what effects rules will have is central both to understanding the rules we have and to deciding what rules we should have. The first section of the book considers basic economic concepts, such as rationality and economic efficiency, that can be used to understand a wide range of legal issues. The book's second section applies economics to the analysis of the core areas of law, such as intellectual property and contracts. Friedman, a law school professor and economist, states that his target reader for this book is an intelligent layman, followed by law professionals and students. Another view is that this is really a textbook in disguise, which will be used primarily in the classroom by the author and other law professors. Mary Whaley --This text refers to an out of print or unavailable edition of this title.

Reader Reviews
This review is from: Law's Order: What Economics Has to Do with Law and Why It Matters. (Hardcover) As usual, the brilliant, fertile and and never-boring mind of David Friedman has produced a book which, although it analyzes all sorts of profound questions (and the academic pros will want a copy), is also a fun read for the intelligent layman or college freshman. The book is inviting, broken up into bite-size chunks with irresistible subtitles like "Why Not Hang Them All?" Written in a clear, no-nonsense style that cuts right to the chase every time, the book even has its own website that works with innovative little icons printed in the margins of the paper version. Although I haven't tried it yet, the idea is that if you want to access citations, law cases, and even entire webbed articles relating to the book, you go online to the website and click on the appropriate icon. Somebody should call this idea "webcite" (get it?). But maybe they already do. I wonder if this is the first book to try this. If so, and if the idea catches on, perhaps it would have collector value. One petty criticism: I wonder if Friedman fully appreciates the "get them off the streets" prevention (not just deterrence) value to us all (or nearly all) of locking up for a long time (not just suing) rage-prone rapists, alcoholic child molesters, and other inherently dangerous kooks. Also, I wonder how it might play out if evolutionary psycholgy, sociobiology, and other views which stress the innate or genetic aspects of individual personality and behavior were applied to this subject. Other sections include "Buying Babies," and "Of Burning Houses and Exploding Coke Bottles." The book offers answers to great questions, such as why we have two kinds of law (civil and criminal) and why private property works, and why it sometimes doesn't, and even offers a highly plausible theory that we owe civilization to the domestication of dogs. (Archaeologists take note!) Friedman's greatest strength however, is not that he demonstrates what to think, but how. Comment | | (Report this)