Chapter

Law and Economics

Kaushik Basu

in Prelude to Political Economy

Published in print September 2000 | ISBN: 9780198296713
Published online November 2003 | e-ISBN: 9780191595943 | DOI: http://dx.doi.org/10.1093/0198296711.003.0005
 Law and Economics

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This chapter lays the foundations for a revised and more inclusive view of the government. It argues that the law must be perceived differently to gain a better understanding on reality while building models of economics, politics, and society. It is shown that the law has similarities with equilibrium-selection norms discussed in the previous chapter.

Keywords: government; law; equilibrium-selection norms; economics; enforcement

Chapter.  11946 words. 

Subjects: Microeconomics

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