This talk was presented on October 16, 2009 at the Conference on Comparative Constitutional Design at the University of Chicago Law School. Eric Posner is Kirkland & Ellis Professor of Law at the University of Chicago Law School, and Adrian Vermeule is John H. Watson, Jr. Professor of Law at Harvard Law School.
This talk was recorded on October 17, 2009 as part of the Conference Comparative Constitutional Design held at the Unversity of Chicago Law School. Martha Nussbaum is Ernst Freund Distinguished Service Professor at the University of Chicago Law School. Rajmohan Gandhi (University of Illinois) provides commentary.
Legal scholars praise "incrementalism" and "minimalism" in law, which is to say the idea that law should progress in small steps and lawmakers should intervene less rather than more. But the acclaim for these approaches ignores the role of interest groups in our legal system.
What work do the categories "the free market" and "regulation" do for us? Why do we incarcerate one out of every one hundred adults? These seemingly unrelated questions, it turns out, are deeply interconnected. The categories of free and regulated markets emerged as an effort to make sense of irreducibly individual phenomena—unique forms of social organization.
This Chicago's Best Ideas lecture was recorded May 2, 2009, as part of the Law School's annual reunion festivities. Douglas Baird is Harry A. Bigelow Distinguished Service Professor of Law at the University of Chicago Law School.