The Second Law Of Economics

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The Second Law of Economics

Reiner Kümmel
The Second Law of Economics Book PDF

Author : Reiner Kümmel
Publisher : Springer Science & Business Media
Page : 309 pages
File Size : 43,6 Mb
Release : 2011-06-24
Category : Science
ISBN : 9781441993656

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The Second Law of Economics by Reiner Kümmel Pdf

Nothing happens in the world without energy conversion and entropy production. These fundamental natural laws are familiar to most of us when applied to the evolution of stars, biological processes, or the working of an internal combustion engine, but what about industrial economies and wealth production, or their constant companion, pollution? Does economics conform to the First and the Second Law of Thermodynamics? In this important book, Reiner Kümmel takes us on a fascinating tour of these laws and their influence on natural, technological, and social evolution. Analyzing economic growth in Germany, Japan, and the United States in light of technological constraints on capital, labor, and energy, Professor Kümmel upends conventional economic wisdom by showing that the productive power of energy far outweighs its small share of costs, while for labor just the opposite is true. Wealth creation by energy conversion is accompanied and limited by polluting emissions that are coupled to entropy production. These facts constitute the Second Law of Economics. They take on unprecedented importance in a world that is facing peak oil, debt-driven economic turmoil, and threats from pollution and climate change. They complement the First Law of Economics: Wealth is allocated on markets, and the legal framework determines the outcome. By applying the First and Second Law we understand the true origins of wealth production, the issues that imperil the goal of sustainable development, and the technological options that are compatible both with this goal and with natural laws. The critical role of energy and entropy in the productive sectors of the economy must be realized if we are to create a road map that avoids a Dark Age of shrinking natural resources, environmental degradation, and increasing social tensions.

The Future of Law and Economics

Guido Calabresi
The Future of Law and Economics Book PDF

Author : Guido Calabresi
Publisher : Yale University Press
Page : 248 pages
File Size : 44,5 Mb
Release : 2016-01-28
Category : Law
ISBN : 9780300216264

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The Future of Law and Economics by Guido Calabresi Pdf

In a concise, compelling argument, one of the founders and most influential advocates of the law and economics movement divides the subject into two separate areas, which he identifies with Jeremy Bentham and John Stuart Mill. The first, Benthamite, strain, “economic analysis of law,” examines the legal system in the light of economic theory and shows how economics might render law more effective. The second strain, law and economics, gives equal status to law, and explores how the more realistic, less theoretical discipline of law can lead to improvements in economic theory. It is the latter approach that Judge Calabresi advocates, in a series of eloquent, thoughtful essays that will appeal to students and scholars alike.

The Second Wave of Law and Economics

Megan Richardson,Gillian Kereldena Hadfield
The Second Wave of Law and Economics Book PDF

Author : Megan Richardson,Gillian Kereldena Hadfield
Publisher : Federation Press
Page : 156 pages
File Size : 54,6 Mb
Release : 1999
Category : Business & Economics
ISBN : 186287316X

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The Second Wave of Law and Economics by Megan Richardson,Gillian Kereldena Hadfield Pdf

How best can the analyses and insights of economics inform legal theory and "improve" legal decision-making? The contribution of the first wave of law and economics scholars was marked by dogmatic adherence to the free market ideals of the Chicago school. Today, the second wave places greater emphasis on empirical data and accepts a much wider range of non-economic values - an approach which offers promise of an objective and balanced reception of law and economics by the courts. This book demonstrates the richness and value of the second wave. The contributors include judges from the High Court of Australia and the Court of Appeal, New Zealand and academics from the Universities of Toronto, Melbourne and Cambridge.

Law, Economics, and Game Theory

John Cirace
Law Economics and Game Theory Book PDF

Author : John Cirace
Publisher : Lexington Books
Page : 474 pages
File Size : 42,7 Mb
Release : 2018-04-16
Category : Business & Economics
ISBN : 9781498549097

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Law, Economics, and Game Theory by John Cirace Pdf

This book uses game theory to explain conflict between individual self-interested behavior and cooperation in economic markets, lawsuits, and legislative bodies. It demonstrates the need for social regulation in addition to free markets and judicial decisions in common law cases.

An Introduction to Law and Economics

A. Mitchell Polinsky
An Introduction to Law and Economics Book PDF

Author : A. Mitchell Polinsky
Publisher : Aspen Publishing
Page : 248 pages
File Size : 54,7 Mb
Release : 2018-07-23
Category : Law
ISBN : 9781543802887

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An Introduction to Law and Economics by A. Mitchell Polinsky Pdf

Distinguished by brevity, lucid writing, and well-chosen examples, An Introduction to Law and Economics, now in its Fifth Edition, focuses on a set of core topics that include property, contracts, torts, criminal law, and litigation. Avoiding specialized jargon and mathematics, Polinsky teaches students how to think like an economist and understand legal issues from an economic perspective. New to the Fifth Edition: A streamlining of the products liability chapter A revised discussion of the redistributive effects of legal rules to reflect more recent scholarship on this topic The addition of several other refinements in the text and in new footnotes An updated bibliography Professors and students will benefit from: Solid coverage of relevant economic principles A normative approach that illustrates how to assess legal rules and policies in terms of economic and social goals Clear explanations of concepts

Economics and the Law

Nicholas Mercuro,Steven G. Medema
Economics and the Law Book PDF

Author : Nicholas Mercuro,Steven G. Medema
Publisher : Princeton University Press
Page : 250 pages
File Size : 49,8 Mb
Release : 1997
Category : Business & Economics
ISBN : 0691005443

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Economics and the Law by Nicholas Mercuro,Steven G. Medema Pdf

By providing readers with a noncritical description of the broad contours of each school of thought, Mercuro and Medema convey a strong sense of the important elements of each of these interrelated yet varied traditions.

Law and Economics

Eric A. Posner
Law and Economics Book PDF

Author : Eric A. Posner
Publisher : Routledge
Page : 600 pages
File Size : 50,6 Mb
Release : 2001
Category : Business & Economics
ISBN : STANFORD:36105060782799

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Law and Economics by Eric A. Posner Pdf

The book is divided into two parts. The first contains more traditional law and economics articles, covering a range of conventional legal topics. This part, it is hoped, will give the novice a flavour of the state of the field and the traditional methods of analysis. The second part attempts to introduce new methodological techniques and subject-matter concerns to law and economics.

The Law and Economics of Marriage and Divorce

Antony W. Dnes,Bob Rowthorn
The Law and Economics of Marriage and Divorce Book PDF

Author : Antony W. Dnes,Bob Rowthorn
Publisher : Cambridge University Press
Page : 246 pages
File Size : 54,6 Mb
Release : 2002-03-04
Category : Business & Economics
ISBN : 0521006325

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The Law and Economics of Marriage and Divorce by Antony W. Dnes,Bob Rowthorn Pdf

What sort of contract is marriage? What does it offer the parties? What are the difficulties of enforcement, and the result of failed effective enforcement? This book takes an economic approach to marriage and divorce, considering the key role of incentives in family law: it highlights the possible adverse consequences emanating from faulty legal design, while demonstrating that good family law should provide incentives for consistent and honest behavior. Economists, specialists in the economic analysis of law, and academic lawyers discuss recent advances in specialist work on marriage, cohabitation, and divorce. Chapters are grouped around four topics: the contractual perspectives on marriage commitment; the regulatory framework surrounding divorce; bargaining and commitment issues relating to marriage and near-marriage arrangements; and finally empirical work, which focuses on the impact of more liberal divorce laws. This important new study will be of considerable interest to lawyers, policy-makers and economists concerned with family law.

The Elgar Companion to Law and Economics

Jürgen G. Backhaus
The Elgar Companion to Law and Economics Book PDF

Author : Jürgen G. Backhaus
Publisher : Edward Elgar Publishing
Page : 792 pages
File Size : 41,5 Mb
Release : 2005-01-01
Category : Business & Economics
ISBN : 1845425502

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The Elgar Companion to Law and Economics by Jürgen G. Backhaus Pdf

Acclaim for the first edition: Backhaus s book is a good companion. Pablo Salvador Coderch, Indret A most valuable collection of papers serving to provide the reader both with an overview of some key areas in law and economics and with a biographical introduction to the work of some important, if also neglected, sources of scholarship in the discipline. Anthony I. Ogus, CBE, University of Manchester, UK This thoroughly updated and revised edition of a popular and authoritative reference work introduces the reader to the major concepts and leading contributors in the field of law and economics. The Companion features accessible, informative and provocative entries on all the significant issues, and breaks new ground by bringing together widely dispersed yet theoretically congruent ideas. Following a comprehensive introduction by the editor, the renowned contributors look in detail at several critical areas including: fundamentals of the law and economics approach private law and economics public law and economics labour law and economics regulation, taxation and public enterprise dispute resolution different sources of the law economic analysis of a legal problem classical authors in law and economics. Students and scholars interested in a comprehensive and rigorous overview of the field of law and economics will find this volume to be a unique and welcome resource. The Companion will also have a broad appeal amongst industrial economists and historians of economic thought.

Law and Economics of International Climate Change Policy

R. Schwarze
Law and Economics of International Climate Change Policy Book PDF

Author : R. Schwarze
Publisher : Springer Science & Business Media
Page : 153 pages
File Size : 40,5 Mb
Release : 2013-03-09
Category : Business & Economics
ISBN : 9789401720472

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Law and Economics of International Climate Change Policy by R. Schwarze Pdf

International climate change policy can be broadly divided into two periods: A first period, where a broad consensus was reached to tackle the risk of global warming in a coordinated global effort, and a second period, where this consensus was finally framed into a concrete policy. The first period started at the "Earth Summit" of Rio de Janeiro in 1992, where the United Nations Framework Convention on Climate Change (UNFCCC) was opened for signature. The UNFCCC was subsequently signed and ratified by 174 countries, making it one of the most accepted international rd treaties ever. The second period was initiated at the 3 Conference of the Parties (COP3) to the UNFCCC in Kyoto in 1997, which produced the Kyoto Protocol (KP). Till now, eighty-four countries have signed the Kyoto Protocol, but only twelve ratified it. A major reason for this slow ratification is that most operational details of the Kyoto Protocol were not decided in Kyoto but deferred to following conferences. This deferral of the details, while probably appropriate to initially reach an agreement, is a major stepping stone for a speedy ratification of the protocol. National policy makers and their constituencies, who would ultimately bear the cost of Kyoto, are generally not prepared to ratify a treaty that could mean anything, from an unsustainable strict regime of international control of greenhouse gases (GHGs) to an "L-regime" ofloopholes, or from a pure market-based international carbon trading to a regime of huge international carbon tax funds.

Law and Economics in Europe

Klaus Mathis
Law and Economics in Europe Book PDF

Author : Klaus Mathis
Publisher : Springer Science & Business Media
Page : 408 pages
File Size : 52,6 Mb
Release : 2013-11-11
Category : Law
ISBN : 9789400771109

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Law and Economics in Europe by Klaus Mathis Pdf

This anthology illustrates how law and economics is developing in Europe and what opportunities and problems – both in general and specific legal fields – are associated with this approach within the legal traditions of European countries. The first part illuminates the differences in the development and reception of the economic analysis of law in the American Common Law system and in the continental European Civil Law system. The second part focuses on the different ways of thinking of lawyers and economists, which clash in economic analysis of law. The third part is devoted to legal transplants, which often accompany the reception of law and economics from the United States. Finally, the fourth part focuses on the role economic analysis plays in the law of the European Union. This anthology with its 14 essays from young European legal scholars is an important milestone in establishing a European law and economics culture and tradition.

Comparative Law and Economics

Ugo Mattei
Comparative Law and Economics Book PDF

Author : Ugo Mattei
Publisher : University of Michigan Press
Page : 290 pages
File Size : 47,8 Mb
Release : 1997
Category : Business & Economics
ISBN : 0472066498

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Comparative Law and Economics by Ugo Mattei Pdf

The book links the study of comparative law with the study of law and economics

The Economic Metabolism

Wim Heijman
The Economic Metabolism Book PDF

Author : Wim Heijman
Publisher : Springer Science & Business Media
Page : 194 pages
File Size : 46,8 Mb
Release : 2012-12-06
Category : Business & Economics
ISBN : 9789401150385

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The Economic Metabolism by Wim Heijman Pdf

Students in Technical and Agricultural faculties spend only a limited amount of time on general economics, environmental economics and resource economics. However, while their knowledge of economics may be limited, they often have adequate mathematical skills. The objective of The Economic Metabolism, therefore, is to present these three branches of economics in an integrated, mathematically oriented way, so that the subjects can be taught together, without losing time on separate economics courses. While the approach adopted is mathematical, the mathematics used is certainly not too difficult for the target group: university students in technical and/or agricultural faculties will be used to far more difficult mathematics. After studying the book, the basic/intermediate level student should be able to understand the basic principles of economics, especially microeconomics; understand the economic principles of environmental policy; understand the economic principles of resource extraction; apply the standards for efficiency and sustainability; and apply the theory to practical problems.

Law and Economics of Article 102 TFEU

Robert O'Donoghue KC,Jorge Padilla
Law and Economics of Article 102 TFEU Book PDF

Author : Robert O'Donoghue KC,Jorge Padilla
Publisher : Bloomsbury Publishing
Page : 1608 pages
File Size : 43,7 Mb
Release : 2020-09-03
Category : Law
ISBN : 9781509942961

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Law and Economics of Article 102 TFEU by Robert O'Donoghue KC,Jorge Padilla Pdf

“A reference book in this area of EU competition law and a must-have companion for academics, enforcers and practitioners alike, as well as EU and national judges.” Judge Nils Wahl, Court of Justice of the European Union This seminal text offers an authoritative and integrated treatment of the legal and economic principles that underpin the application of Article 102 TFEU to the behaviour of dominant firms. Traditional concerns of monopoly behaviour, such as predatory pricing, refusals to deal, excessive pricing, tying and bundling, discount practices and unlawful discrimination are treated in detail through a review of the applicable economic principles, the case law and decisional practice and more recent economic and legal writings. In addition, the major constituent elements of Article 102 TFEU, such as market definition, dominance, effect on trade and applicable remedies are considered at length. The third edition involves a net addition of over 250 pages, with a substantial new chapter on Abuses In Digital Platforms, an extensively revised chapter on standards, and virtually all chapters incorporating substantial revisions reflecting key cases such as Intel, MEO, Google Android, Google Shopping, AdSense, and Qualcomm.

Economics and the Law

Nicholas Mercuro,Steven G. Medema
Economics and the Law Book PDF

Author : Nicholas Mercuro,Steven G. Medema
Publisher : Princeton University Press
Page : 398 pages
File Size : 40,7 Mb
Release : 2020-07-21
Category : Business & Economics
ISBN : 9780691216010

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Economics and the Law by Nicholas Mercuro,Steven G. Medema Pdf

This is an expanded second edition of Nicholas Mercuro and Steven Medema's influential book Economics and the Law, whose publication in 1998 marked the most comprehensive overview of the various schools of thought in the burgeoning field of Law and Economics. Each of these competing yet complementary traditions has both redefined the study of law and exposed the key economic implications of the legal environment. The book remains true to the scope and aims of the first edition, but also takes account of the field's evolution. At the book's core is an expanded discussion of the Chicago school, Public Choice Theory, Institutional Law and Economics, and New Institutional Economics. A new chapter explores the Law and Economics literature on social norms, today an integral part of each of the schools of thought. The chapter on the New Haven and Modern Civic Republican approaches has likewise been expanded. These chapters are complemented by a discussion of the Austrian school of Law and Economics. Each chapter now includes an "At Work" section presenting applications of that particular school of thought. By providing readers with a concise, noncritical description of the broad contours of each school, this book illuminates the fundamental insights of a field with important implications not only for economics and the law, but also for political science, philosophy, public administration, and sociology.