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The Future of Law and Economics – Essays in Reform and Recollection - Yale Scholarship Online
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The Future of Law and Economics: Essays in Reform and Recollection

Guido Calabresi


In a concise, compelling argument, one of the founders and most influential advocates of the law and economics movement divides the subject into two separate areas, which are identified with Jeremy Bentham and John Stuart Mill. The first, Benthamite, strain, “economic analysis of law,” examines the legal system in the light of economic theory and shows how economics might render law more effective. The second strain, law and economics, gives equal status to law, and explores how the more realistic, less theoretical discipline of law can lead to improvements in economic theory. It is the latter ... More

Keywords: law and economics, Jeremy Bentham, John Stuart Mill, legal system, economic theory, economic analysis of law

Bibliographic Information

Print publication date: 2016 Print ISBN-13: 9780300195897
Published to Yale Scholarship Online: May 2016 DOI:10.12987/yale/9780300195897.001.0001


Affiliations are at time of print publication.

Guido Calabresi, author
Yale Law School