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. |
From inside the book
Results 1-5 of 66
... equal to the value of its marginal product . The theory , like Tiedeman's argument for limited police powers , was developed against the backdrop of increasing attacks from the left on the distributive justice of the market ( including ...
... tension substantially resolved for progressives by the Edgeworthian hypothesis that , all other things being equal , aggregate welfare would be maximized by an egalitarian 6 // 21 distribution of wealth.20 His notion of " INTRODUCTION.
... equal rights " must mean , at root , " equal means " to rights . But , again like most of his fellow progressives , Hale stopped short of advocating absolute equality of incomes or widespread government own- ership of private property ...
... equal ) the government ought to redistribute property rights so as to maximize the aggregate , positive freedom in society . As developed at some length in Chapters 4 and 5 , the interesting portion of Hale's affirmative agenda lay in ...
... equal to the marginal value that it contributed ( John Bates Clark's " marginal productivity theory ' ) . Finally , in competitive markets , the value of the marginal product to consumers would equal the cost to marginal suppliers ...
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 |