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Law and Economics

A branch of legal theory which employs the tools provided by economics to explain and evaluate the effects and consequences of legal rules and to solve legal problems. Using the tools of economic analysis applied to law distinguishes three different schools: normative, positive and “public choice”. Gaining popularity, the movement’s founders and influential academics have been related to FEE: Aaron Director, Richard Epstein, Henry Manne, Donald J. Boudreaux.

 

Ivan Pongracic - Public Choice Economics

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CURRENT ISSUE

November 2014

It's been 40 years since F. A. Hayek received his Nobel Prize. His insights, particularly on the distribution of knowledge and the impossibility of economic planning, remain hugely important today. In this issue, we look back on the influence of his work. Max Borders and Craig Biddle debate whether liberty must be defended from one absolute foundation, further reflections on Scottish secession, and how technology is already changing our world for the better--including how robots, despite the unease they cause, will only accelerate this process.
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