Free Markets and Social Justice
The newest work from one of the most preeminent voices writing in the legal/political arena today, this important book presents a new conception of the relationship between free markets and social justice. The work begins with foundations--the appropriate role of existing preferences, the importance of social norms, the question whether human goods are commensurable, and issues of distributional equity. Continuing with rights, the work shows that markets have only a partial but instrumental role in the protection of rights. The book concludes with a discussion on regulation, developing approaches that would promote both economic and democratic goals, especially in the context of risks to life and health. Free Markets and Social Justice develops seven basic themes during its discussion: the myth of laissez-faire; preference formation and social norms; the contextual character of choice; the importance of fair distribution; the diversity of human goods; how law can shape preferences; and the puzzles of human rationality. As the latest word from an internationally-renowned writer, this work will raise a number of important questions about economic analysis of law in its conventional form.
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agencies Amartya Sen analysis ancillary risks approach assessment availability heuristic behavior benefits broadcasting Cambridge choices citizens claim collective action problems commensurability Congress Consider constitutional context contingent valuation cost-benefit cost-benefit analysis costs Court create deal decision Delaney Clause democracy democratic discrimination diverse Econ economic effects efforts endowment effect ensure environmental example existing fact free markets goal governmental harmful human important impose incentives incommensurability issues Jon Elster judgments kinds of valuation Kip Viscusi legislation limits Madisonian ment must-carry NHTSA PACs particular percent perhaps political pollution possible preferences produce programs promote protection question reason reflect reform regulatory relevant require Richard Thaler role safety sense social norms sometimes speech status quo bias statutes strategies suggest supra note technologies things tion trade-offs University Press willingness to pay
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