David Campbell, ‘The Non‐existence of Markets in the Economic Analysis of Law à la Mode’

Eric A Posner and E Glen Weyl, Radical Markets: Uprooting Capitalism and Democracy for a Just Society, Princeton, NJ: Princeton University Press, 2018, xxii, 337 pp, £24.00. Readers of this journal still following law and economics, particularly the variant associated with Richard Posner, who celebrated his eightieth birthday this year, will have been surprised by the left-wing nature of a number of the things said over the last decade or so. Influenced, of course, by the financial crash and by the success of extremely interventionist policies intended to prevent it from turning into, so far as this conveys any meaning, a complete breakdown of the financial system, Posner himself became an enthusiastic advocate of both Keynesian general demand management and Pigouvian piecemeal regulatory intervention; a far cry from the position of one who first came to prominence by advocating deregulation in the most strident way …

David Campbell, The Non‐existence of Markets in the Economic Analysis of Law à la Mode, Modern Law Review, volume 82, issue 5, September 2019, pages 951-965.

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