Law and Economics – HP_612 & HP_613
Josef Šíma
sima@vse.cz
The course introduces students to the history and current approaches of law&economics. It explains the interconnections of the
theory of economics and the theory of
law. It explores the possibility to extend the logic and deduction of
economics to the study of law and studies economic consequences of different
legal arrangements for economic wellbeing.
The goal of the course is to understand and analyze in detail the
interconnections of the science of law and economics.
General
reading:
Šíma, Josef : Introduction to
the Logic of Social Action:Law&Economics Primer
***
Rizzo, Mario: “The Mirage of Efficiency”, Hofstra Law Review, vol. 8, no. 3, Spring 1980
Boettke, Peter: “The New Comparative
Political Economy”, Forum
Series on the Role of Institutions in Promoting Economic Growth – Forum 6,
Frédéric Bastiat: The Law
Crespi,
Gregory Scott: “Exploring
the Complicationist Gambit: An Austrian
Approach to the Economic Analysis of Law“, Notre
Dame Law Review, vol. 73, no. 2, January
1998
***
Bouckaert, Boudewijn
and De Geest, Gerrit
(eds.), Encyclopedia of
Law and Economics, Volume I. The History and Methodology of Law and
Economics ,
1.
The role of property in economic thought
Mises, Ludwig: “Harmony
and conflict of interest”, Human
Action, Fox & Wilkes, 1966
Armen A. Alchian: Property Rights
Hayek, F. A.: “The Challenge to Property”, The Fatal Conceit, The
Rothbard, Murray: Economic Thought before Adam Smith and Classical Economics, Edward Elgar, 2
volumes, 1995
Clark Nardinelli: Industrial
Revolution and the Standard of Living
Todd J. Zywicki: The
Rule of Law, Freedom, and Prosperity
North, Douglass C.: Institutions, Institutional Change and Economic
Performance,
Coase, Ronald: Essay on Economics and Economists, University of
Chicago Press, 1994
2.
Origin of law&economics.
Mackaay, Ejan: “History
of Law and Economics“ in Bouckaert, Boudewijn and De Geest, Gerrit (eds.): Encyclopedia of Law and Economics, vol. I,
Edward Elgar, 2000
Coase, Ronald H.: “The Problem of Social Cost“, Journal of Law and Economics, vol. III,
October 1960
Coase, Ronald H.: “The
Institutional Structure of Production”, Nobel
Lecture
3.
The Coase theorem and its application.
“Looking for Results: Nobel laureate Ronald Coase on rights, resources, and regulation“, Reason
Magazine, January 1997
Coase, Ronald H.: The Firm, the Market and the Law,
Medema, Steven G and Zerbe,
Richard O. Jr.: “The Coase Theorem” in Bouckaert, Boudewijn and De
Geest, Gerrit (eds.): Encyclopedia of Law and Economics, vol. I, part 0730, Edward Elgar, 2000
4. Coase, Posner, Calabresi and
their approaches to law&economics.
Walter Block: „Ethics, Efficiency, Coasian Property Rights, and Psychic Income: A Reply to
Harold Demsetz“, Review of Austrian Economics, vol. 8, no. 2, 1995
Demsetz,
Herold: „Block's
Erroneous Interpretations“, Review of Austrian Economics, vol. 10, no. 2, 1997
Walter Block: „Private-Property
Rights, Erroneous Interpretations, Morality, and Economics: Reply to Demsetz“, The Quarterly Journal of Austrian Economics,
vol. 3, no. 1, Spring 2000
Walter Block: "O.J.'s Defense: A Reductio Ad
Absurdum of the Economics of Ronald Coase and Richard
Posner," European Journal of Law and Economics, 1996, Vol. 3, pp.
265-286
Edward Stringham: “Kaldor-Hicks Efficiency and the Problem of Central Planning” Quarterly Journal of Austrian Economics, Vol.
4, No. 2 (Summer 2001) 41-50
5.
Legal-economic nexus
Frédéric Batiat:
Economic Harmonies, chap. 1. “Natural and
Artificial Social Order”
Randy
Barnett:
Toward a Theory of Legal
Naturalism, Journal of Legal Studies, 1978
Edward Stringham: “Economic
Analysis of Tort Law: Austrian and Kantian Perspectives” (with Mark White)
in Law and Economics: Alternative Economic Approaches to Legal and
Regulatory Issues, Margaret Oppenheimer and Nicholas Mercuro
(eds.)
6.
Property I – human bodies
7.
Property II – ownership of non-human entities
Hans-Hermann Hoppe: The Theory of Socialism and
Capitalism, An Economico-Philosophical Treatise,
Kluwer Academic Publishers, 1989 (chap. 2)
Frédéric Bastiat: Selected
Essays on Political Economy, Foundation for Economic Education, 2001,
chap. Property and Law
Garrett Hardin: The Tragedy
of the Commons
Ludwig Mises: Human Action, chap. “The Limits of Property
Rights and the Problems of
External Costs and External Economies”
8.
Entrepreneurship and efficiency
Paul Heyne: Efficiency
Hayek, F. A.: “Competition as a
Discovery Procedure”, Quarterly Journal of Austrian Economics, vol.
5, no. 3, Fall 2002
Bruno S. Frey - A Utopia? Government Without Territorial
Monopoly, The Independent Review: A Journal of Political Economy, Volume 6,
Number 1, Summer 2001
Tom W. Bell - Privately Produced Law, Libertarian
Tom
W. Bell - The Jurisprudence Of Polycentric Law, Unpublished Manuscript,
Tom
W. Bell - Polycentric Law in the New Millennium, Essay submitted to the
Mont Pelerin Society, 1998
O’Hara, Erin A. and Ribstein,
Larry E.: “From
Politics to Efficiency in Choice of Law“,
Edward Stringham: “Market Chosen Law”
Journal of Libertarian Studies Vol. 14, No.1 (Winter 1998-1999) 53-77
George
H. Smith - Justice Entrepreneurship in a Free Market, Journal of Libertarian Studies, Vol. 3, No.
4, 1979
Randy E. Barnett - Comment on Smith
Steven Strasnick - Comment on Smith
Robert
L. Formaini - Comment on Smith
George
H. Smith - Reply to Critics
9.
Efficiency and coordination
F.A. Hayek: "The Use of Knowledge
in Society"
David Friedman - Anarchy and Efficient Law, For and
Against the State (ed. John T. Sanders and Jan Narveson),Rowman & Littlefield, 1996, p. 235-253
10.
Law and the State
T.
L. Anderson & P.J. Hill - An American Experiment in Anarcho-Capitalism:
The Not So Wild, Wild West Journal of Libertarian Studies, Vol. 3, no. 1,
1979
David Friedman - Private Creation and Enforcement of Law: A
Historical Case
Journal of Legal Studies 8, 1979
Stephen Davies - The Private Supply of `Public Goods' in
Nineteenth Century Britain (pdf)
Libertarian Alliance, Historical Notes, 03, 1988
Edward Stringham: “The Extralegal
Development of Securities Trading in Seventeenth Century Amsterdam” Quarterly
Review of Economics and Finance, Vol. 43, No. 2 (Summer 2003) 321-344.
Edward Stringham: “The
Emergence of the London Stock Exchange as a Self-Policing Club” Journal
of Private Enterprise, Vol. 17, No. 2 (2002) 1-19.
Bruce
L. Benson - Enforcement of Private Property Rights in Primitive
Societies: Law without Government, Journal of Libertarian Studies,
Vol. 9, Num. 1, 1989
Bruce
L. Benson - Customary Law With Private Means of Resolving Disputes and
Dispensing Justice: A Description Of a Modern System of Law and Order Without
State Coercion, Journal of Libertarian Studies, Vol. 9 Num. 2, 1990
Bruce L. Benson - Reciprocal Exchange as the Basis for
Recognition Of Law: Examples from American History,
Journal of Libertarian Studies, Vol. 10, Num. 1, 1991
John
D. Sneed - Order without Law: Where will Anarchists Keep the Madmen ?, Journal
of Libertarian Studies, Vol. 1, No. 2, 1977
11. Law and legislation
Tom Palmer: „Freedom
and the Law: A Comment on Professor Aranson's
Article," with Leonard P. Liggio, Harvard
Journal of Law & Public Policy
Stephan
N. Kinsella - Rationalism, Legislation, and Law, Journal
of Libertarian Studies, Vol. 11, Num. 2, 1995
Benson, Bruce L.: “The Impetus for
Recognizing Private Property and Adopting Ethical Behavior in a Market Economy:
Natural Law, Government Law, or Evolving Self-Interest”, The Review of Austrian Economics, vol.
6, no. 2, 1993.
11. Real-world
legal systems
Environment
Roger E. Meiners and Bruce Yandle:
The
Common Law: How it Protects the Environment
Block, Walter, "Environmentalism
and Freedom: The Case for Private Property Rights," Journal of Business Ethics, Vol. 17, No.
6, December 1998, pp. 1887-1899
Anderson, Terry L. and Huggins, Laura E.: Property
Rights: A Practical guide to Freedom and Prosperity, Hoover Institutions
Press Publications, 2003
IP
Palmer, Tom G.: „Intellectual Property: A
Non-Posnerian Law and Economics Approach“, Hamline Law Review, vol. 12, no. 261, 1989
Kinsella, Stephan N.: „Against Intellectual
Property“, Journal of Libertarian Studies, vol. 15, no. 2, Spring 2001
Punishment and
Restitution
Stephan N. Kinsella -
Punishment and Proportionality: the Estoppel Approach, Journal of Libertarian Studies,
Vol. 12, Num. 1, 1996
Bruce
L. Benson - Restitution in Theory and Practice, Journal of Libertarian
Studies, Vol. 12, No. 1, 1996
12. What
should lawyers do?
Bryan Caplan - The Economics of
Non-State Legal Systems, Libertarian
John Hasnas: Once
More unto the Breach: The Inherent Liberalism of the Criminal Law and Liability
for Attempting the Impossible
Michael I. Krauss: Restoring
the Boundary Tort Law and the Right to Contract
Further
Murray Rothbard: For a New Liberty: The
Libertarian Manifesto, chap. 11 (The Public Sector, III:
Police, Law, and the Courts. 219)
Gustave de Molinari: Private Production of
Security
Murray Rothbard's
introduction
David Friedman - Police, Courts, and Laws-on the Market, in
The Machinery of Freedom: Guide to A Radical Capitalism, Open Court, 1973 (1989
second edition)
Anthony de Jasay: The State
Hayek, F. A., The Road to Serfdom.
Hayek, F. A., Law, Legislation and
Hernando
Bruce Benson, Customary Law With Private Means of Resolving Disputes and
Dispensing Justice: A Description Of a Modern System of Law and Order Without
State Coercion, Journal of Libertarian Studies, sv.
9, č. 2 (www.mises.org)
Friedman, David: Law’s Order, What Economics Has To Do With Law And Why
It Matters, Princeton University Press, 2000
Alchian, Armen A.
and Demsetz, Harold: „The Property Right Paradigm“,
The Journal of Economic History, vol. 33, no. 1, March 1973
Barnett, Randy E.: The Structure of
Berman, Harold J.: Law and Revolution,
Bethell, Tom: The Noblest Triumph, Property
and Prosperity through the Ages,
Šíma, Josef: “Intelektuální
vlastnictví”, Politická ekonomie (forthcoming)
Šíma, Josef: „Spor
o metodu uvnitř ekonomie a práva“, Filosofické základy metodologie ekonomických věd II, VŠE, 2003
Šíma, Josef: “Francouzský
harmonismus jako jednota ekonomie a práva”, Introductiion to
Salin, Pascal: Ekonomická harmonizace,
Liberální institut, 2003
Ellickson, Robert C.: Order without Law,
Benson, Bruce: The Entreprise of Law, Pacific
Research Institute for Public Policy, 1990
Epstein, Richard A.: Simple Rules for a Complex World,
Medema, Steven G. (ed.): The Legacy of
Ronald Coase in Economic Analysis, vol. I and II,
Edward Elgar Publishing, 1995
Pipes, Richard: Property and Freedom, Alfred A. Knopf, 1999
Rizzo, Mario J.: „Law Amid Flux: The Economics of Negligence and Strict
Liability in Tort“, Journal of Legal Studies, vol. IX, no. 2, March 1980
Rizzo, Mario J.: „Rules versus Cost-Benefit Analysis in the Common Law“
in Dorn, James A. a Manne, Henry G.: Economic
Liberties and the Judiciary,
Rizzo, Mario J.: „Uncertainty, Subjectivity, and the Economic Analysis
of Law“ in Rizzo, Mario J. (ed.): Time, Uncertainty, and Disequilibrium, LexingtonBooks, 1979
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