In this insightful book, Patrick McNutt explores the meaning of law within a political environment, and advances many new ideas and concepts first addressed in his earlier book Law, Economics and Antitrust.
The joint use of both economic and legal reasoning is well supported by the carefully selected examples and case studies, which clarify the issues under review. This, together with the application of simple game theory language to explain the complex legal and economic concepts and to assemble the arguments throughout each of the chapters, provides an innovative exposition of the political economy of law. The book discusses a range of issues from legal, economic and ethical platforms, with a reference to intuitive argument, the debate between ethics and law, and case precedent. Topics explored include a discussion on the role of law and ethics, tort liability, property rights and neo-Walrasian antitrust. The author also covers lawlessness and criminal intent, internet markets and intellectual property rights, and competition, co-operation, and governance.
This innovative work will be an invaluable resource to legal scholars, practitioners, judiciary and postgraduate students in law and in economics. Philosophy scholars, economists and government policymakers interested in public policy initiatives will also find this a useful and informative book.