Abstract

The Law and Economics approach to law dominates the intellectual discussion of nearly every doctrinal area of law in the US and its influence is growing steadily outside America as well. 2013 marked the fortieth anniversary of the publication of Richard Posner's Economic Analysis of Law, the book that launched the Law and Economics movement. The eighth edition of the book was published in 2011, this time competing against over twenty textbooks, collections and casebooks on law and economics. Although there has been phenomenal growth in this area questions remain. Why has Law and Economics movement become so successful? What is the current status of the Chicago School? What are the alternative theories and how much influence do they exert? What can be considered mainstream today? What are the norms and values underlying this impressive body of research? These issues, amongst others, are thoroughly explored by the contributors.