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Economic Analysis Of Law
Law and economics, or economic analysis of law, is the application of microeconomic theory to the analysis of law, which emerged primarily from scholars of the Chicago school of economics. Economic concepts are used to explain the effects of laws, to assess which legal rules are economically efficient, and to predict which legal rules will be promulgated. There are two major branches of law and economics; one based on the application of the methods and theories of neoclassical economics to the positive and normative analysis of the law, and a second branch which focuses on an institutional analysis of law and legal institutions, with a broader focus on economic, political, and social outcomes, and overlapping with analyses of the institutions of politics and governance. History Origin The historical antecedents of law and economics can be traced back to the classical economists, who are credited with the foundations of modern economic thought. As early as the 18th century, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Microeconomic Theory
Microeconomics is a branch of mainstream economics that studies the behavior of individuals and firms in making decisions regarding the allocation of scarce resources and the interactions among these individuals and firms. Microeconomics focuses on the study of individual markets, sectors, or industries as opposed to the national economy as whole, which is studied in macroeconomics. One goal of microeconomics is to analyze the market mechanisms that establish relative prices among goods and services and allocate limited resources among alternative uses. Microeconomics shows conditions under which free markets lead to desirable allocations. It also analyzes market failure, where markets fail to produce efficient results. While microeconomics focuses on firms and individuals, macroeconomics focuses on the sum total of economic activity, dealing with the issues of growth, inflation, and unemployment and with national policies relating to these issues. Microeconomics also ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Alan Ebenstein
Alan Oliver (Lanny) Ebenstein (born May 28, 1959) is an American political scientist, educator and author, known from his biographical works on Friedrich Hayek and Milton Friedman. Biography Born in Princeton, New Jersey, to William Ebenstein (1910-1976), a noted political scientist, and Ruth Ebenstein. He obtained his BA at the University of California, Santa Barbara, in 1982, and his PhD at the London School of Economics in 1988.Ebenstein, Alan O. 1959– at encyclopedia.com. Accessed 30-03-2015. After his graduation, Ebenstein was an instructor at Antioch University from 1990 to 1996. In 1992, he was the Republican nominee for the California State Assembly in the 35th District. [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
