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Efficiency Instead of Justice?

Part of the Law and Philosophy Library Book Series (volume 84)

DOI: 10.1007/978-1-4020-9798-0

ISBN: 978-1-4020-9797-3

Publisher: Springer Netherlands - Springer Journals

Jan 1, 2009

1 - 10 of 10 Chapters

Available

Introduction

Mathis, Klaus; Shannon, Deborah

Pages: 1 –3

[In the USA, numerous research approaches have developed over the last few decades which apply economics to the field of law: property rights theory, transaction cost economics, public choice theory, constitutional economics and, not least, economic analysis of law.2 These approaches rely on the...
Available

Homo Economicus

Mathis, Klaus; Shannon, Deborah

Pages: 7 –30

[Economic analysis of law is based on the use of the economic model to explain human behaviour. It thus makes use of the analytical tools of microeconomics. Microeconomic theory takes individual economic agents as the starting point of analysis. In contrast, the Keynesian theory which dominated...
Available

Efficiency Criteria

Mathis, Klaus; Shannon, Deborah

Pages: 31 –49

[Defining efficiency criteria is a traditional concern of welfare economics. Whereas microeconomics deals with the behaviour of individual economic agents and the workings of markets, the task of welfare economics is to develop criteria for evaluating economic policy measures and economic...
Available

Economic Analysis of Law

Mathis, Klaus; Shannon, Deborah

Pages: 51 –84

[The seminal groundwork for the economic analysis of law was done by Ronald H. Coase and Guido Calabresi. In his essay, ‘Some Thoughts on Risk Distribution and the Law of Torts’ (1961), Calabresi’s analysis of the allocation of risks in tort law runs counter to the legal principle of fault. In...
Available

Adam Smith’ Moral Philosophy

Mathis, Klaus; Shannon, Deborah

Pages: 87 –101

[Adam Smith’s most famous work is undoubtedly his Inquiry into the Nature and Causes of the Wealth of Nations (1776). Here Smith casts the economy as part of a harmonious order which he refers to as a ‘system of natural liberty’.3 To explain this natural order, Smith argues for the application of...
Available

Jeremy Bentham’s Utilitarianism

Mathis, Klaus; Shannon, Deborah

Pages: 103 –119

[Utilitarianism (from Lat. utilis: useful) is a tendency within normative ethics which has developed, principally in the English-speaking world, into a complex instrument for the empirical-rational justification of norms. To the idealistic philosophers in the German-speaking world, on the other...
Available

John Rawls’s Theory of Justice

Mathis, Klaus; Shannon, Deborah

Pages: 121 –139

[John Rawls’s theory of justice is an attempt to reconcile calculated self-interest with basic rights. In order to define generally consensual principles of justice, in his A Theory of Justice (1971) Rawls goes back to classical theories of the social contract. He makes reference to Locke and,...
Available

Richard Posner’s Theory of Wealth Maximization

Mathis, Klaus; Shannon, Deborah

Pages: 143 –183

[Richard Allen Posner (* 1939) is the figurehead of the economic analysis of law movement and one of its major pioneers. As Coase notes: In the development of the economic analysis of the law […] Posner has clearly played the major role.2]
Available

Justice and Efficiency

Mathis, Klaus; Shannon, Deborah

Pages: 185 –201

[Two different goals – such as justice and efficiency – can essentially stand in three possible relations to one another: Goal harmony,Goal neutrality,Goal conflict. Where the relation is one of goal harmony, the pursuit of one goal would be beneficial for the other goal, too. For example,...
Available

Conclusions

Mathis, Klaus; Shannon, Deborah

Pages: 203 –206

[Jeremy Bentham’s utilitarianism can be commended for its orientation to human needs and its equal treatment of every person, rich or poor. Under a system of wealth maximization, this is different: the utility of the rich is privileged. Moreover, the same objection must be raised to wealth...

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