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2015 | OriginalPaper | Buchkapitel

10. Epilogue

verfasst von : Satish Kumar Jain

Erschienen in: Economic Analysis of Liability Rules

Verlag: Springer India

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Abstract

Economic analysis has revealed a connection between common law and efficiency. In view of this connection, a view has emerged, known as the efficiency thesis, according to which efficiency provides a unified explanation for the whole of common law. The chapter contains a discussion on the kind of connection that is required on theoretical grounds for one to assert that efficiency constitutes an explanation for common law and on whether the connection between efficiency and common law that has been established is of the kind required by the theoretical considerations. A claim, less extreme than the efficiency thesis, appears to be more appropriate. While efficiency may figure in a prominent way in a positive theory of law, it is unlikely that a fully satisfactory theory is possible without bringing in other values or criteria. In the normative context also a more moderate approach seems to be indicated. Wealth maximization is an aggregative criterion and basic rights are quintessentially non-aggregative in character; consequently wealth maximization in some situations might entail a conflict with protection of basic rights.

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Fußnoten
1
See, for instance, Posner (1987), and Landes and Posner (1987).
 
2
Dworkin (1977).
 
Literatur
Zurück zum Zitat Calabresi, Guido. 1980. About law and economics: A letter to Ronald Dworkin. Hofstra Law Review 8: 553–562. Calabresi, Guido. 1980. About law and economics: A letter to Ronald Dworkin. Hofstra Law Review 8: 553–562.
Zurück zum Zitat Dworkin, Ronald M. 1977. Taking rights seriously. Cambridge, MA: Harvard University Press. Dworkin, Ronald M. 1977. Taking rights seriously. Cambridge, MA: Harvard University Press.
Zurück zum Zitat Landes, William M. and Richard A. Posner. 1987. The economic structure of tort law. Cambridge, MA: Harvard University Press.CrossRef Landes, William M. and Richard A. Posner. 1987. The economic structure of tort law. Cambridge, MA: Harvard University Press.CrossRef
Zurück zum Zitat Posner, Richard A. 1981. The economics of justice. Cambridge, MA: Harvard University Press. Posner, Richard A. 1981. The economics of justice. Cambridge, MA: Harvard University Press.
Zurück zum Zitat Posner, Richard A. 1987. The law and economics movement. American Economic Review 77: 1–13. Papers and Proceedings. Posner, Richard A. 1987. The law and economics movement. American Economic Review 77: 1–13. Papers and Proceedings.
Metadaten
Titel
Epilogue
verfasst von
Satish Kumar Jain
Copyright-Jahr
2015
Verlag
Springer India
DOI
https://doi.org/10.1007/978-81-322-2029-9_10