= Arguing About Law ‘An Introduction to Legal Philosophy SECOND eomnion ANDREW ALTMAN “Te George Washington UniveisyLaw and Economics ‘THE ECONOMIC ANALYSIS OF LAW 1 ih of dat a ronal thnk at fl dy ‘Sesing on hamia behwir sad iinons an route 6 2 denn of er Aconigy aren od tt ch el ecg myn ie mateo cosa {0 the ty tem Pyle Sr chr ted how rere ‘iin ae std by where pecan he deep at ining i ling semen wo th fy And stmplops be bed td aot th int win wh era cules ane ep ot trek out mong hr emi Bat i cst sys de Se eth he principles of eeoama priate tet wet dey ‘Shia nd me he es ae of pone lee ere ‘sed he “ow sd economia orem ‘The hw an conorags mowenen spt of teed it es ecomase ‘esc he ence feet cou for Seco pes seeming fr omen fon te ‘anmcon fhe made ‘cecil comic js hve bes gio tag ouside "igqThe deta heat he pnp enone ot ey ‘ey fo se tony seid ag af hana belo hey op ‘man acts ed pacar ac de Eo nl ne "We soul be eet dnpush mange epee is belonging ‘othe iw an economic poche destip, cnr a 70 Psteiactetttrrsusterinn te aa enc ” aie Th dcp shal comic conape nd pace eve ning epson of el a The xpry at bl ‘5 scommc comp an pla be ror tt penn Secu ie mtv Sine entrar Terocegtanitecps cy ane ea Seay ee ay eit ees hough i sony bce wi go ‘cums ci woul salt imparant tow tte cormoa ee fice Showing tht wat to woud conte ot wean oe onmon iw ee i we mou sed snk jn cen be aoe ‘te wy contac he parc pl al dom “Tose thle ccoocnes de mr pci the cin tesco isensy provision oredr ews Sy ‘aig eg eicien apt asshulbe paced by eicet en ala, ‘aloo shoul emanated The ea a eb eo ord rrp whter tera whale ome sel expasedey 'Scovom ein) ore efcenin he pls Te ete ‘Boudbstinent mt be duende coca pus Een oc ob ere (hed econoras mesa abut wetter bal ys ECONOMIC RATIONALITY 1h ection, we wil cu othe economic concept of ony oe foo cone atthe cn af how the comma apn Secs, ‘apt sd eats hm nom snd auton Te on cop ional Action From the economic peop, ham son coil onl a he ‘cy fan actos is anton oc sa enfant Cl od lectin lr othe ee range fetes tt ae mtg ‘eae won for de Monetrycosentom re aid ttcon deaf a not este Wo ancl a owe Spe ‘sce an vad fr ny wok. 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common vane wos Unter he ‘oponeon ofaw =n econone woud ie ako eee se sb eee eon ob hath ached a ee THE sclENTiFIC srATUS OF LAW AND Economics te “es (como ta a ey tocar (oe ule he pth (Gi re And the pce mat py Oberle wba hey ‘cy occu mae tsb esto sons angen nt Indeed oes ot prc chen the Ipotese cond Below te lots accepted by he ce Cnty, tough he epeete Law and Ecanomic Scenic? ‘How wel sow sd economia mea phe ann of ee Senos laminas kewego ene oe cerca tain atoctnon en aeons ‘Semel cet Sopa we wat rca ind ‘coon ws oo oy commas expen athe ‘la ofcomoatw ae gly eine The expec fl he ‘essary ows dat rn ae Sofie ae ‘an be tow cou tenements ‘St cine win cpa he oom mee Howe har eros ple wit i wy yng make sey ted nia iene es ‘Sabo ter byptme tn cicocy wat pale be mmm ie ‘Coady. Pea i cla tare pled pet ine e ‘eg teow mt aly ce Be ee gs ‘2 hry eget o eprint conan a cence There oot tron" a comy wo cooe os cmon Sw et ‘itu out be eco Tie "pth eguemeat ate “yo s at se sl the pote re a he cron ‘Steam Conan see mul te mach wg perc ini osc w sec. omiyexplinuion For here wo be somehinguaedhig ct ‘oly icecy hat rvs he een fe con re “eis ently pote cnunon by cet ca sent eles cal only Conny to wht Romer mney sal ily sae fete cen nd ay pt Se ‘Re hawt dpc ont cece dine ‘exc sorry col ples el det dsl peeees ‘Obl otal enact cofom oil oney “orc son ad ‘oe osying mpd wrong hele sso moray Bat on ‘Sol loons ar any fot paced confor ose wey Tor mat poi, tere oo harng ene i ee at ee cn ep ol ‘Geming an oping ow prunes Aad fr mo pre hg pees ‘tt contr tocol benefits these of ging ‘a one pn gin ach Denti decay spe oa cence ‘Styne tur ot ben hat he Ge man cae pte eof cornea eet Thr ota gh nest fe a ‘Sel enue pene at cn be Somer me tough ck 2 Sheet fr eam petene lor conte goo) snd dna ee Stare more licens hugh the mar sap ps for dence procene inthe wos) Socal mary wed me te ‘est enpunaion of bot he common wai ees ‘Tet poy dow aoe how tar Poser and hr cabo ae eng when toy chim et tooomic iency f what exp Be comme le ea ts sage In our uertandng he ne esta ‘Sec is wht exp the common ln se» geet a ‘net poe THE EVALUATION OF LAW: ‘SHOULD LAW MAXIMIZE WEALTH? ‘We co um oe tate apt of he ew and econo mower ie Chim thot whut uw hold be Like the Sapam cm, ee ‘he one rae sound the hes sonomic sea Acco te ‘coco sae dace ww compas te ea of oping i rt el randy ach compton ote ae The Biggest Pe A mand elim of the nw ad eon mawenet tite ‘rus cathe “bg emai psoas nto pope yt Se [toe om hw de ds of he pea be ute kin ey ‘Sects what leper tn te the ge pA he nethere to Set ome he ter of ewyone seme fo he Fo hat ree, coven ne ay Bt eicecy sconce fal en enone, ‘wee tr tec shou ej ofa nono mac Aad [Erte ecooonc snip cum tn cn en lat 2 dey 2 tien, pod leg le “The i ht dint pl als re he bgp eo cone ang th idea eieacy wes macnon wits vey aie Hes of eicacy Tat flew en en be cael“ Wey: wich in be eae in eo gle spe Image ce hve le pcr 3 wiges The ace ea chee ‘ecweenmutaly ee leprae 4 ad B Sapa athe cic of ‘S07 lads ger opto wage per ea hate i hs ay in dhs gone pede icy an B Teplrsca romate pod cnc ins ber on mys, For nie ey apc ens fr tc one wt het ‘rte ina gen ped tne Or ey may ce nse pes {© come p wth ecaslapa anor ince he out of es ee fae ie Oy ay nae nerrrf eson e lie whos hat erase te ou ‘Te es of pofacie ean nga dic om a of woh smainison rs sect eg Pole co pe or ho ‘ue dg frit lee goods and ert th af ae whe ‘ate the the moss ened by hei ingen ay po ae ‘arent When consuls lw reef he pos Shey ae ring > procure cay sa aoe weal an Ilaon and ts no tg a wich one Moree oul cem mien oto wrth mininion athe eon ft get Foie For he conc of wet mmo Sor wo ps wi cr Satench penne ge he pr eof pir wich be the bing ted te» poy ema. Hower Poe woull spe that die is 22 soit connection ‘ween neh nsnion st pode iirccy Te seestoe se ‘om teed the aces of he pe coco eo ara eed © ‘lee goo (ed ogre pt) The dpe to whch ee ed wil depend, ea in patos how peyton The re ‘Tan male wih the mere mane nome And whe ca de good Spt cn Soy ec tp ther vires of Weatth Maximizton? met ve et macnn nl ma he vin i alton w pomoing poate isency Among he mat ingot ‘igri mange spo radial gh an earn Comet sly Sie ore sy lp igh oc owm abo hy at week ane eevee Ee (rth mater nd cence dec 9 wid hbo wok me one ce wh ering abet Jal Out bet ht oon ld ave ‘tn ee th eveyone hs orl gh etter uc wet ibe bas of ach igh Usian bn "ond ia ‘Sc sivery eo mame he eb fe ov aa Ber at ‘epi Gots weak ba thee coll ctr wh es. {Uv ede owas andthe ae outweighs ee ‘eames ht atnisig wea, a oppor vo wy rvs ong bt ‘tte igt to one om be ce ‘Th le of se orc par he ve a she owe. ‘Aes everythng tedte pducesgcr eer etn the sve TA ey rats pel nese he ar swe ty pe ‘cya contra fe peo with igh sh owe re ee ‘els asoong nent wea recy poe Terme at ‘Peon bers gens seo nel so ining we s ‘Sth gt ch bore gens he ind ma oe yon ae "Thi cocoa of Ponerh may em tar igh fe a at Sn ie el ng pe cna ch wing ode wo pay ale a sring oye ‘fondo tte ele i ge Per eae Boter aver ea cow de amout of oa Hat ep ‘et thea is fend bi Tu ss wo te re he ‘wes wos be wing po okey hn = nea owl man ‘Sn mguses dar he og ot pon laste sage we pone ha ater dan someooe ek The tht we cel bros "bay hs feomn woud hoe ge dt igen Pow ine For ‘pel mination thw ol nga tery Peso th igo ‘eet fom he pani The boring xray «eral SaDiscussion questions 1. AL wesw i Caper th gener commoner ht a nl ‘ula no lop ya ster enon alone mend pe ‘Sle ekuoapbrmen te to The comer pope by Ae She pean shal net dy 0d ue a fe Spr ange ‘ena ean do so wi lke oa tnsmesins 0 Lee Wich ‘So ecient economy? Why? Should comseron of economic eB ‘Secy deri ch lew hl ar? 1 Sopp at yos ges il os Kling peopl st wing ft ou il me fr 10000 The ney wl po omy dy by seh ‘hot prove de to secu ney Cod mac ane be coe ‘aly etic? Umer theenyorseaoa wos counter marereen Tad ‘Shay ape rn gb ei yt