The rise and fall of efficiency in the common law: A supply-side analysis

From: Northwestern University Law Review | Date: July 1, 2003| Author: | Copyright information

I. INTRODUCTION

From its inception, an animating insight of the economic analysis of law has been the observation that the common law process appears to have a strong tendency to produce efficiency-enhancing legal rules.1 But many recent commentators have also concluded that recent decades have seen an evolution away from this traditional principle, as the common law appears to increasingly reflect interest-group pressures that have attenuated this traditional evolutionary tendency toward efficiency.2 This duality has deepened the dilemma confronting scholars, requiring an explanatio n of not ...

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