Since the early nineteenth century, carceral spaces such as asylums, prisons, and state schools have been central to U.S. governance. Yet in the twentieth century these institutions took drastically different paths, as institutions for developmental disabilities and mental health dramatically decreased and prisons became the dominant state‐run institutions.
This symposium will pay tribute to Professor Ronald Coase (1910-2013) by examining how the methodology of law and economics has influenced the teaching of law. Scholars will discuss various approaches on how to introduce law and economics into the classroom in Chinese universities.
Does economic analysis have a role to play in scholarship on international law? For quite a long time, the answer seemed to be “no,” but over the last decade, economic analysis of international law has gained traction in law schools.
Government agencies like the EPA frequently use benefit-cost analysis in order to evaluate proposed regulations. By contrast, financial agencies like the SEC and CFTC rarely use benefit-cost analysis, and in recent years have seen regulations struck down by the courts because of regulators’ failure to use benefit-cost analysis or flaws in their benefit-cost analyses.
In their book The Behavior of Federal Judges, Lee Epstein, William Landes, and Richard Posner challenge the traditional legalist and realist accounts of judging by presenting a labor market theory of judicial behavior. Judges are workers whose behavior is shaped by the conditions and incentives of their employment.
A central problem facing legal systems is that often one party has private information. Mechanism design provides a set of tools from economics that may allow legal systems to make optimal decisions in this context.
Presented by IJ Clinic on Entrepreneurship students Michael Lanahan and Ben Montanez. This panel was recorded at the Institute for Justice Clinic on Entrepreneurship's "Recipe for Success" symposium on April 27, 2013.