Law and Economics in Common-Law, Civil-Law, and Developing Nations

14 Pages Posted: 6 Jul 2004  

Richard A. Posner

University of Chicago Law School; National Bureau of Economic Research (NBER)

Abstract

The law and economics movement is the principal interdisciplinary field of legal studies. This paper traces the history of the movement and explains its basic principles, contrasts the version of the movement that predominates in the United States with the version that prevails in Europe, noting the greater emphasis of the former on substantive doctrine and of the latter on rule of law considerations, and emphasizes the importance of the movement for legal and economic reform in developing nations.

Suggested Citation

Posner, Richard A., Law and Economics in Common-Law, Civil-Law, and Developing Nations. Ratio Juris, Vol. 17, No. 1, pp. 66-79, March 2004. Available at SSRN: https://ssrn.com/abstract=548094

Richard A. Posner (Contact Author)

University of Chicago Law School ( email )

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National Bureau of Economic Research (NBER)

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