ABSTRACT
This paper aims to offer a clarification of how the concept of efficiency is used in legal economic debates. Specifically, it identifies two notions of it – one, that I propose to call ‘instrumental’ (as a means) and the other one that I call ‘normative’ (as an end). These two – as they are understood in this contribution – although intertwined, differ in the main from the point of view of their force. In particular, the attention will be focused upon the second meaning (ie efficiency as an end) and the forms it has historically taken: (a) utilitarianism, on the one hand, and (2) wealth maximization, on the other. It will be argued that both of these forms aim to provide a moral guidance for legal (and political) action. However, it will be shown that both are quite problematic (practically and ethically), especially for the advocates of ‘deontologism’ in the theories of moral ideals.
Giabardo, Carlo Vittorio, Efficiency as a Means and as an End. Some Thoughts on Happiness, Wealth and Justice in the Legal-Economic Debate (June 4, 2021), forthcoming in DJ Almanza Torres, MC Pereira Ribeiro (eds), Análise económico do direito e economia comportamental, Curitiba, 2021.
First posted 2021-06-16 11:00:06
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