By Anthony I. Ogus
Expenses and Cautionary stories presents an summary of the way monetary research can improve an knowing of legislation and will supply criteria for its severe overview. The publication eschews a dogmatic strategy, acknowledging that non-economic ambitions play an enormous half within the legislation. charges and Cautionary stories is directed basically at legal professionals and legislations scholars, really those that hitherto were skeptical of the makes use of and cost of legislations and economics. each one bankruptcy is outfitted on a specific subject or set of issues, with examples drawn from throughout felony different types. The procedure is discursive, anecdotal, and analytical, reflecting the information and convictions constructed in the course of the author's 30 years operating within the box of legislation and economics.
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Additional info for Costs And Cautionary Tales: Economic Insights for the Law (Legal Theory Today)
In 56 (1971) 2 Bell Journal of Economics and Management Science 3. For a survey of his contribution, see LG Telser, “Stigler, George Joseph” in Newman, above n 9, vol 3, 540–4. 58 GJ Stigler and C Friedland, “What Can Regulators Regulate? the Case of Electricity” (1962) 5 Journal of Law and Economics 1. 59 Above n 57, 543. 57 17 (B) Ogus Ch1 20/2/06 16:33 Page 18 Setting the Scene short, there is a “market” for legislation in which, like any other market, trade takes place on the basis of supply and demand.
65 Now many of us may have been naïve, assuming that politicians and therefore the Westminster Parliament were largely concerned with promoting what they considered to be in the public interest, but the ideas of public choice are not wholly alien to English lawyers. 67 For example, a provision of the Consumer Protection Act 1987 excludes agricultural products (not undergoing an industrial process) from the new regime of liability for defective products,68 and this was almost certainly the result of pressure from the powerful farmers’ lobby.
Cf A Ogus, “Lawyers as Designers or Disputants? Some Observations on the Economics of Civil Justice” in J Godard and D Guild (eds), Justice and Money, Hume Papers on Public Policy, vol 7(1) (Edinburgh, Edinburgh University Press, 1999), 28–37. 3 RJ Gilson, “Lawyers as Transaction Cost Engineers” in P Newman (ed), The New Palgrave Dictionary of Economics and the Law (London, Macmillan, 1998), vol 2, 508. See also H Collins, Regulating Contracts (Oxford, Oxford University Press, 1999), 149–53. 4 GL Priest, “Lawyers, Liability and Law Reform: Effects on American Economic Growth and Trade Competitiveness” (1993) 71 Denver University Law Review 115.
Costs And Cautionary Tales: Economic Insights for the Law (Legal Theory Today) by Anthony I. Ogus