The law and economics movement came of age in the second half of the 20th century and had a profound effect on both the scholarship and practice of law. The specially commissioned essays in this book honor the pioneering contributions of those who created the foundation of the modern law and economics enterprise. The editors of the volume embrace a view of the field that is inclusive not only of a broad range of issues, but also of economic methods. Celebrated here are the founders of law and economics as well as economic theorists, public choice scholars, lawyers and judges who applied economic insights to the law and legal institutions. They include: Ronald Coase, Aaron Director, George Stigler, Armen Alchian, Harold Demsetz, Benjamin Klein, James Buchanan, Gordon Tullock, Henry Manne, Richard Posner, Gary Becker, William Landes, Richard Epstein, Guido Calabresi, Frank Easterbrook, Daniel Fischel, Steven Shavell and A. Mitchell Polinsky. Contributors to the volume include other pioneers, former students and clerks, colleagues, and influential scholars in the field. Scholars and students working in the tradition of law and economics, as well as those in the fields of economics, law and public policy will find the book an essential reference for this important area of scholarship.
1 Ronald H. Coase by Thomas W. Hazlett 1
2 Aaron Director remembered by Stephen M. Stigler 31
3 Aaron Director's influence on antitrust policy by Sam Peltzman 35
4 George J. Stigler and his contributions to law and economics by Harold Demsetz 50
5 The enduring contributions of Armen Alchian by Susan Woodward 60
6 Harold Demsetz by Mark F. Grady 74
7 Benjamin Klein's contributions to law and economics by Joshua D. Wright 87
8 Buchanan and Tullock on law and economics by Robert D. Tollison 115
9 Henry Manne: intellectual entrepreneur by Larry E. Ribstein 125
10 Gary Becker's contributions to law and economics by John F. Pfaff 145
11 Pioneers of law and economics: William M. Landes and Richard A. Posner by Thomas S. Ulen 175
12 Putting law first: Richard Epstein's contribution to law and economics by Andrew P. Morriss 203
13 Calabresi's influence on law and economics by Keith N. Hylton 224
14 Easterbrook and Fischel by Katherine V. Litvak 246
15 The path breaking contributions of A. Mitchell Polinsky and Steven Shavell to law and economics by Nuno Garoupa and Fernando Gomez-Pomar 267
Index 295
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