The New Efficiency Rationale: An Internal Critique
Chris William Sanchirico
University of Pennsylvania Law School; University of Pennsylvania Wharton School - Business Economics and Public Policy Department; Urban-Brookings Tax Policy Center
University of Virginia School of Law, Legal Studies Working Paper No. 00-5
One of the most important developments in law and economics over the last decade has been the emergence and rapid acceptance of a new type of justification for the field's long-time practice of evaluating legal rules solely on the basis of the efficiency criterion. This Article challenges these new arguments. It contends that these arguments are alternatively logically flawed or reliant on untenable assumptions. The article concludes that law and economics' exclusive focus on efficiency continues to lack justification even within the limited purview of modern economic reasoning.
Number of Pages in PDF File: 65working papers series
Date posted: December 23, 1999
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