Risks and Wrongs

Oxford University Press (1992)
Abstract
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.
Keywords Law Philosophy  Torts Economic aspects  Contracts Economic aspects  Liability (Law  Justice  Risk  Social choice
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Call number K230.C64.R57 2002
ISBN(s) 0199253617  
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    Dale Jamieson (2010). Climate Change, Responsibility, and Justice. Science and Engineering Ethics 16 (3):431-445.
    Stephen Darwall (2010). Moral Obligation: Form and Substance. Proceedings of the Aristotelian Society 110 (1):31-46.
    Stephen Darwall (2011). Justice and Retaliation. Philosophical Papers 39 (3):315-341.

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