Risks And Wrongs (cambridge Studies In Philosophy And Law)

This major new book by one of America's preeminent legal theorists is concerned with the conflict between the goals of justice and economic efficiency in the allocation of risk, especially risk pertaining to safety. The author approaches his subject from the premise that the market is central to liberal political, moral, and legal theory. In the first part of the book, he rejects traditional 'rational choice' liberalism in favor of the view that the market operates as a rational way of fostering stable relationships and institutions within communities of individuals with broadly divergent conceptions of the good. However, markets are needed most where they are most difficult to create and sustain, and one way to understand contract law in liberal legal theory, according to Professor Coleman, is as an institution designed to reduce uncertainty and thereby make markets possible. Publisher description: This book by one of America's preeminent legal theorists is concerned with the conflict between the goals of justice and economic efficiency in the allocation of risk, especially risk pertaining to safety. The author approaches his subject from the premise that the market is central to liberal political, moral, and legal theory. In the first part of the book, he rejects traditional "rational choice" liberalism in favor of the view that the market operates as a rational way of fostering stable relationships and institutions within communities of individuals with broadly divergent conceptions of the good. However, markets are needed most where they are most difficult to create and sustain, and one way to understand contract law in liberal legal theory, according to Professor Coleman, is as an institution designed to reduce uncertainty and thereby make markets possible. Another target of this book is the prevalent view that tort law helps rectify market failures when transaction costs are too high to permit contracting. The author argues instead that tort law should be understood as a way of rectifying wrongful losses not inefficient exchanges "This classic book by one of America's pre-eminent legal theorists is concerned with the conflict between the goals of justice and economic efficiency in the allocation of risk, especially risk pertaining to safety. The author approaches his subject from the premise that the market is central to liberal political, moral, and legal theory. In the first part of the book, he rejects traditional rational choice liberalism in favour of the view that the market operates as a rational way of fostering stable relationships and institutions within communities of individuals with broadly divergent conceptions of the good. However, markets are needed most where they are most difficult to create and sustain, and one way to understand contract law in liberal legal theory, according to Professor Coleman, is as an institution designed to reduce uncertainty and thereby make markets possible." This collection of essays explores the ways in which the new developments of the Renaissance affected the way women were understood by men and the way they understood themselves. In so doing, the authors discover that the female subject of the Renaissance shares much conceptual territory with her postmodern counterpart. One of America's most eminent legal theorists is concerned here with the conflict between the goals of justice and economic efficiency in the allocation of risk within this major new study for theorists in philosophy, law, political science, and economics. Jules Coleman Discusses The Conflict Between The Goals Of Justice And Economic Efficiency In The Allocation Of Risk, Especially Risk Pertaining To Safety. Jules L. Coleman. Includes Bibliographical References (p. 441-497) And Index.