‘Contemporary Law and Economics,’ by Adam Chilton, Joshua C. Macey & Mila Versteeg
What does it mean to be a law & economics (L&E) scholar? It can’t require a Ph.D. in economics. Richard Posner doesn’t have one. He didn’t even major in economics as an undergraduate, preferring English—as did his Chicago colleagues Douglas Baird and Diane Wood. It can’t require a law degree, either, or Ronald Coase, William Landes, and many other leading lights are out.
Perhaps it’s a focus on rational actors—people making choices to advance their interests—and wealth maximization? But that would leave out the behavioral movement, which…
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