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Richard A. Posner (1939–)

In: The Palgrave Companion to Chicago Economics

Author

Listed:
  • Jean-Baptiste Fleury

    (CY Cergy Paris Université)

  • Alain Marciano

    (University of Montpellier and MRE)

Abstract

Richard A. Posner was the most important actor in the transformation from “law and economics” to an “economic analysis of law”. Posner applied Chicago price theory to the analysis of law and legal rules. He not only contributed to the field but also structured it. This is what this chapter shows. We also show that Posner’s work illustrates the Chicagoan dimension of his economic analysis of law. That Posner, especially later in his career, introduced some elements that might seem to be at odds with Chicago economics—pragmatism, notably—or that he claimed having become a Keynesian, does not change much to the claim that it was Posner who crafted Chicago’s economic analysis of law.

Suggested Citation

  • Jean-Baptiste Fleury & Alain Marciano, 2022. "Richard A. Posner (1939–)," Springer Books, in: Robert A. Cord (ed.), The Palgrave Companion to Chicago Economics, chapter 35, pages 901-923, Springer.
    • Handle: RePEc:spr:sprchp:978-3-031-01775-9_35
    DOI: 10.1007/978-3-031-01775-9_35
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    References listed on IDEAS

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    1. Marciano, Alain & Melcarne, Alessandro & Ramello, Giovanni B., 2020. "Justice Without Romance: The History Of The Economic Analyses Of Judges’ Behavior, 1960–1993," Journal of the History of Economic Thought, Cambridge University Press, vol. 42(2), pages 261-282, June.
    2. Gary S. Becker, 1974. "Crime and Punishment: An Economic Approach," NBER Chapters, in: Essays in the Economics of Crime and Punishment, pages 1-54, National Bureau of Economic Research, Inc.
    3. Marciano, Alain, 2012. "Guido Calabresi's economic analysis of law, Coase and the Coase theorem," International Review of Law and Economics, Elsevier, vol. 32(1), pages 110-118.
    4. Reder, Melvin W, 1982. "Chicago Economics: Permanence and Change," Journal of Economic Literature, American Economic Association, vol. 20(1), pages 1-38, March.
    5. Posner, Richard A., 2010. "The Crisis of Capitalist Democracy," Economics Books, Harvard University Press, number 9780674062191, Spring.
    6. William M. Landes, 1974. "An Economic Analysis of the Courts," NBER Chapters, in: Essays in the Economics of Crime and Punishment, pages 164-214, National Bureau of Economic Research, Inc.
    7. Coase, R H, 1993. "Law and Economics at Chicago," Journal of Law and Economics, University of Chicago Press, vol. 36(1), pages 239-254, April.
    8. Posner, Richard A, 1971. "Killing or Wounding to Protect a Property Interest," Journal of Law and Economics, University of Chicago Press, vol. 14(1), pages 201-232, April.
    9. Posner, Richard A, 1993. "Gary Becker's Contributions to Law and Economics," The Journal of Legal Studies, University of Chicago Press, vol. 22(2), pages 211-215, June.
    10. Richard A. Posner, 1974. "Theories of Economic Regulation," Bell Journal of Economics, The RAND Corporation, vol. 5(2), pages 335-358, Autumn.
    11. Posner, Richard A, 1970. "A Statistical Study of Antitrust Enforcement," Journal of Law and Economics, University of Chicago Press, vol. 13(2), pages 365-419, October.
    12. Backhaus, Jürgen G., 1978. "Lawyers' economics vs. economic analysis of law," Discussion Papers, Series I 117, University of Konstanz, Department of Economics.
    13. Juergen G. Backhaus, 2017. "Lawyers’ economics versus economic analysis of law: a critique of professor Posner’s “economic” approach to law by reference to a case concerning damages for loss of earning capacity," European Journal of Law and Economics, Springer, vol. 43(3), pages 517-534, June.
    14. Alain Marciano & Rustam Romaniuc, 2015. "Accident costs, resource allocation and individual rationality: Blum, Kalven and Calabresi," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 22(6), pages 1084-1114, December.
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