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... > social science subjects > criminology and criminal justice > criminology > law and society > law and economics > functional law and economics
... > social science subjects > politics and international relations > political science > law and courts > law and society > law and economics > functional law and economics
... > social science subjects > politics and international relations > political science > ideologies > libertarianism > libertarianism and policy > law and economics > functional law and economics
... > social science subjects > business and management > organization studies > organization studies encyc > approaches to organization theory > organizational economics > law and economics > functional law and economics
... > social science subjects > business and management > organization studies > organization studies encyc > organizational economics > law and economics > functional law and economics

Preferred term

functional law and economics  

Definition

  • Though Ronald Coase's The Problem of Social Cost(1960) is generally considered to have begun the law and economics movement, the application of economic theory and methods to legal issues can be found much earlier. Indeed, Adam Smith's (1723–1790) own analysis of the effects of the licensing of professionals is an early example of what one would today consider law and economics scholarship. [Source: Encyclopedia of Law & Society: American and Global Perspectives; Functional Law and Economics]

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https://concepts.sagepub.com/social-science/concept/functional_law_and_economics

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