Law and economics has arguably become one of the most influential theories in contemporary legal theory and adjudication. The essays in this volume, authored by both legal scholars and economists, constitute lively and critical engagements between law and economics and new institutional economics from the perspectives of legal and evolutionary theory. The result is a fresh look at core concepts in law and economics - such as 'institutions', 'institutional change' and 'market failure' - that offer new perspectives on the relationship between economic and legal governance. The increasingly transnational dimension of regulatory governance presents lawyers, economists and social scientists with an unprecedented number of complex analytical and conceptual questions. The contributions to this volume engage with legal theory, new institutional economics, economic sociology and evolutionary economics in an interdisciplinary assessment of the capacities and limits of the state, markets and institutions.
Drawing as well upon legal sociology and the philosophy of law, the authors expand and transform the known terrain of 'law and economics' by applying evolutionary theory to both law and economics from a domestic and transnational perspective. Legal scholars, evolutionary and regulatory theorists, economists, economic sociologists, economic historians and political scientists will find this cutting-edge volume both challenging and engaging.
Contents: Foreword Law, Economics and Evolutionary Theory: State of the Art and Interdisciplinary Perspectives Peer Zumbansen and Gralf-Peter Calliess PART I: EVOLUTIONARY THEORY AND HISTORICAL TRAJECTORIES 1. The European Enlightenment, the Industrial Revolution, and Modern Economic Growth Joel Mokyr 2. The Unbearable Lightness of A - Useful Knowledge and Economic Growth Thrainn Eggertsson 3. The Law Merchant's Story: How Romantic is it? Bruce L. Benson 4. Path Dependence: A Foundational Concept for Historical Social Science Paul A. David PART II: EVOLUTIONARY THEORY IN LAW AND ECONOMICS 5. System and Evolution in Corporate Governance Simon Deakin and Fabio Carvalho 6. Constitutional Possibility and Constitutional Evolution Eric A. Posner 7. The Expressive Power of Adjudication in an Evolutionary Context Richard H. McAdams 8. Forces Shaping the Evolution of Private Legal Systems Amitai Aviram 9. Legal Evolution between Stability and Change Martina Eckardt 10. The Genesis of Law: On the Paradox of Law's Origin and its Supplement Marc Amstutz 11. Gene-Culture Co-Evolutionary Theory and the Evolution of Legal Behavior and Institutions Bart Du Laing 12. Making Evolutionary Theory Useful for Legal Actors Mauro Zamboni PART III: TRANSNATIONAL LAW AND EVOLUTIONARY GOVERNANCE 13. Transnational Commercial Law, Multi-level Legal Systems, and Evolutionary Economics Wolfgang Kerber 14. Darwin at Work: How to Explain Legal Change in Transnational and European Private Law Jan M. Smits 15. Linking Extra-legal Codes to Law: The Role of International Standards and Other Off-the-track Regimes Erich Schanze 16. Transnational Governance and Evolutionary Theory Gralf-Peter Calliess, Jorg Freiling and Moritz Renner Index
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