LPE Originals

In Praise of Blindspots

This post is part of a symposium on the Methods of Political Economy. The introductory essay to this symposium repeats several standard views about neoclassical economics that I think are some combination of dated, inaccurate, or irrelevant. I think what legal scholars (including those who do “economic analysis of the law”) perceive as economics is…

LPE Originals

“As if the Last 30 Years Never Happened”: Towards a New Law and Economics, Part 2

Our previous post dealt with the outsize influence of well-funded conservatives at the interface between economics and law, and in particular over the judiciary. This influence is the product of many decades of institution-building, which includes the adoption of a particular (and in our opinion outdated) approach to economics in legal research and teaching. Addressing…

LPE Originals

“As if the Last 30 Years Never Happened”: Towards a New Law and Economics, Part 1

In our experience and in that of others, left and progressive legal scholars tend to view arguments rooted in economic reasoning with a deep skepticism. This suspicion is understandable, given that law and economics was birthed by the foundations and political entrepreneurs of economic conservatism. Our empirical work on economics training for federal judges, summarized…