"This book offers a theory of law and economics focused on change over time, aimed at avoiding systemic risks, and implemented through an analysis of law's economic incentives and how people respond to them"-- Provided by publisher. "Law influences the future, not the past. Legislative bodies may write laws in response to a past event, such as the recent financial crisis. But legislative bodies around the world can no longer prevent the crisis of 2008; they can only seek to prevent a different financial crisis from occurring in the future. A vigorous and appropriate response to the 9/11 attacks might conceivably prevent future terrorist attacks, which might or might not use airplanes, but by 9/12 keeping the World Trade Center from collapsing lay beyond human power. Attempts to address climate disruption cannot lower last year's temperature; they can only ameliorate future flooding, drought, disease, and ecosystem destruction"-- Provided by publisher.
Bibliography, etc. Note
Includes bibliographical references and index.
Formatted Contents Note
An introduction to the economic dynamics of law Neoclassical law and economics The economic collapse of 2008 The economic dynamic theory Financial regulation Contract law's inefficiency Property law: a macroeconomic view Intellectual property: economic dynamic scholarship and neoclassical legal change Size matters: antitrust, empowerment, and systemic risk On the dangers of ignoring the economic dynamics of national security Climate disruption: an economic dynamic approach Conclusion: on ecoomic dynamics' value and limits.
Cambridge ; New York : Cambridge University Press,