From the Right to Harm to the Law of Wealth Maximization: Coase, Posner and Chicago-Style Parameters for Pro-Market Legal Decisions
DOI:
https://doi.org/10.31501/ealr.v14i3.12169Abstract
Coase and Posner were central do the the development of Chicago-style Law and Economics (L&E) in the 1960s and 1970s. This paper aims at depicting how Coase and Posner contributed to structuring a pro-market framework for decision-making through L&E. The methodological approach consists of literature review of descriptive and analytic nature. The main contribution presented is the characterization and systematization of these authors’ thoughts, so as to highlight the connections among their main theses, as well as their associations with the Mont-Pèlerin Society and funding organizations that shared with L&E the same pro-market economic sensitivity. Accordingly, the paper positions Coase and Posner’s formulations, centered on the aspect of economic efficiency, as inducers of a style of decision-making averse to redistributive publice policies, substantiating a law of wealth maximization that relegates considerations of distributional equity to the background.
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