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The Question is: “The problem with economic analysis of law is that money is not an adequate measure of welfare or fairness.” Discuss.
Footnotes must contain only citations and not text.
Recommended Referencing:
G Calabresi The Cost of Accidents: a Legal and Economic Analysis (Newhaven:Yale UP, 1970)
P Cane “The Anatomy of Private Law Theory: A 25th Anniversary Essay” (2005) 25 OJLS 203
R Coase “The Problem of Social Cost” 3 Journal of Law and Economics 1 (1960)
R Dworkin “Is Wealth a Value”, chapter 12 of A Matter of Principle
R Dworkin Law’s Empire chapter 8
I Englard The Philosophy of Tort Law (Aldershot: Dartmouth, 1993)
George Fletcher “Fairness and Utility in Tort Theory” 85 Harvard Law Review 537 (1972)
J Hanson, K Hanson and M Hart “Law and Economics” in D Patterson ed A Companion to the
Philosophy of Law and Legal Theory (2nd ed, Oxford: Blackwell, 2010)
W Landes and R Posner The Economic Structure of Tort Law (Cambridge, Mass: Harvard UP, 1 987)
A Leff “Economic Analysis of Law: Some Realism about Nominalism” 60 Virginia Law Review 451
D Owen ed Philosophical Foundations of Tort Law (Oxford: OUP, 1995)
S Perry “The Moral Foundations of Tort Law” 77 Iowa L. Rev 449
Richard Posner “A Theory of Negligence” 1 J. Leg. Studies 29 (1972) pp.29-33
R Posner “Utilitarianism, Economics and Legal Theory” 8 Journal of Legal Studies 103 (1972)
R Posner Economic Analysis of Law (8th ed, New York: Aspen, 2011) chapter 6
G Postema ed Philosophy and the Law of Torts (Cambridge: CUP, 2001)
R Wright “Hand, Posner, and the Myth of the ‘Hand Formula’” 4 Theoretical Inquiries in
Law 1 (2003)

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