Article

The Theory of “Efficient Breach”: A Jewish Law Perspective

Ronald Warburg

in The Oxford Handbook of Judaism and Economics

Published in print December 2010 | ISBN: 9780195398625
Published online September 2012 | | DOI: http://dx.doi.org/10.1093/oxfordhb/9780195398625.013.0018

Series: Oxford Handbooks

 The Theory of “Efficient Breach”: A Jewish Law Perspective

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This article focuses on the theory of efficient breach from the perspective of the Jewish law. The law and economics schools of thought have advanced a number of controversial claims in the name of economic efficiency—from promoting trading on inside information to providing markets for the sale of human organs—but none may be as provocative and challenging as the argument of entitlement and economic efficiency underlying the theory of “efficient breach.” This article explains various Jewish laws such as halakhah. Halakhah distinguishes between legal and moral norms. The distinguishing characteristic between them is enforceability. Whereas a halakhic-legal norm is enforceable by a bet din, compliance with a halakhic moral norm is dependent upon individual volition. There are two components required in the undertaking of an obligation: effectuating a kinyan and gemirat da'at. This article further elaborates upon every other clause pertaining to Jewish law and Judaism which concludes this article.

Keywords: Jewish law; economic efficiency; efficient breach; Judaism

Article.  11753 words. 

Subjects: Economics ; Industry Studies

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