Alfred Marshall Meets Law and Economics: Rationality, Norms, and Theories as Tendency Statements

Steven G. Medema

A chapter in Cognition and Economics, 2006, pp 235-252 from Emerald Group Publishing Limited

Abstract: The first issue that requires examination is the question of how we got to this point to begin with. The answer to this question, of course, is a function of who “we” happens to be. The lawyers can blame Oliver WendellHolmes (1897, p. 469), who made “the man of the future … the man of statistics and the master of economics.” The future, it would seem, is now. Legal Realist/Institutionalist lawyer-economists such as Walton Hamilton and Robert Lee Hale, who were economists on law school faculties before that tradition got started at Chicago, had something to do with this too, although neither they nor law-minded economists such as John R. Commons can be given credit or blame for the economic analysis of law – at least not directly.3The birth of the economic analysis of law is very much a Chicago story – Coase, Becker, and Posner – although we must allow that Guido Calabresi also had more than a bit to do with these things.4

Date: 2006
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.emerald.com/insight/content/doi/10.101 ... d&utm_campaign=repec (text/html)
https://www.emerald.com/insight/content/doi/10.101 ... d&utm_campaign=repec (application/pdf)
Access to full text is restricted to subscribers

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eme:aaeczz:s1529-2134(06)09009-0

DOI: 10.1016/S1529-2134(06)09009-0

Access Statistics for this chapter

More chapters in Advances in Austrian Economics from Emerald Group Publishing Limited
Bibliographic data for series maintained by Emerald Support ().