Law and Economics
Irish Jurist, Vol. 46, p. 165, 2011
30 Pages Posted: 28 Jan 2011 Last revised: 17 Jun 2011
Date Written: January 26, 2011
Abstract
Although law and economics has had an extraordinary impact on jurisprudence in recent times, the Irish legal community has largely neglected it. This Article provides a basic introduction to economic analysis of law. It suggests that the academy should more closely embrace the field as a distinct discipline and explores some potential benefits that the Irish legal community might realise as a result. The paper seeks to counter commonly held biases that lead some to discount or to reject economic principles. In doing so, however, it demarcates the limits of normative economic analysis. The piece concludes by calling for greater involvement by Irish economists in legal matters and for Ireland’s many distinguished law schools to introduce a basic course in law and economics into their foundational curricula.
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