The incorporation of empirical analysis via statistical methods into interpretive and normative legal frameworks calls for scrutiny into the nature of the role this input plays in the law. We can take lessons from disputes in statistical methodology and their use in the legal reasoning to better illuminate the more general relationship between “fact”-finding and normative judging. Let’s examine the sense in which racial discrimination can “cause” differential outcomes in police interactions, for example
This post explores the “money view,” which demystifies financial economies by conceptualizing money as the way in which humans manage ongoing promissory relations in a world of uncertainty.
Economic models produce blindspots, compressing qualitative differences into quantitative measures. Yet, this vice is also the source of their power.
If “law and political economy” examines the role of law in constituting and regulating marketcraft and statecraft, one way of “doing” LPE is to look for the role of law in managing the processes by which capitalists extract value from activity putatively outside “the economy.”
Eschewing the chimerical twin poles of perfect competition and market failure, this post advances an LPE-grounded constitutional theory of the business enterprise, informed a Legal Realist reading of the economics literature.
The co-constitution of states and markets reflects the historical distribution of power in society. As social structures, markets are subject to the dynamics of all forms of organized social life.
Despite mainstream economists’ fixation on relations among natural persons, ours is a world teeming with abstract legal entities—corporations—chartered by the public authority, managed by corporate fiduciaries. Such public-private hybrids illustrate the “political” in “political economy.”
This post introduces a symposium on heterodox methodologies in the study of political economy.