The Progressive Assault on Laissez Faire: Robert Hale and the First Law and Economics MovementLaw and economics is the leading intellectual movement in law today. This book examines the first great law and economics movement in the early part of the twentieth century through the work of one of its most original thinkers, Robert Hale. Beginning in the 1890s and continuing through the 1930s, progressive academics in law and economics mounted parallel assaults on free-market economic principles. They showed first that "private," unregulated economic relations were in fact determined by a state-imposed regime of property and contract rights. Second, they showed that the particular regime of rights that existed at that time was hard to square with any common-sense notions of social justice. |
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... Industrial Action , a core group of institutionalists including Adams , Patten , Ely , Commons , Hamilton , and J. M. Clark focused particular attention on the legal institutions that underlay economic life , from the broad institutions ...
... industries . For the vast majority of industries , which Marshall assumed to be competitive in structure , he posited that the long- run equilibrium price paid to producers would tend to converge with the costs of production ...
... industries in the short run , but he predicted that they would disappear in the long - run equilib- rium , when the cost curve straightened out . The progressives argued , though , that it was the Marshallian short run , not the long ...
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Contents
1 | |
2 The Empty Idea of Liberty | 29 |
3 The Empty Idea of Property Rights | 71 |
4 A RentTheory World | 108 |
Rate Regulation of Public Utilities | 160 |
6 Conclusion | 205 |
Notes | 217 |
Index | 333 |
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The Progressive Assault on Laissez Faire: Robert Hale and the First Law and ... Barbara H. Fried No preview available - 2001 |