law and economics

Introduction Taxation is the lifeblood of modern states. It provides governments with the revenue necessary to fund essential public goods—such as education, healthcare, infrastructure, and defense—and to correct market failures…

Introduction Corporations are the backbone of modern economies, driving investment, innovation, and employment. However, their complex structures—where ownership and control are separated—give rise to challenges of accountability and trust. This…

Introduction Crime and punishment have traditionally been studied from moral, legal, and sociological perspectives. However, since the mid-20th century, economists have increasingly analyzed these issues through the lens of rational…

Introduction Environmental protection is one of the most critical challenges facing modern societies. Industrial growth, urbanization, and technological progress have improved living standards but also generated pollution, deforestation, and climate…

Introduction In the modern knowledge-based economy, creativity, innovation, and information have become central to economic growth and competitiveness. Unlike physical goods, ideas and innovations can be replicated at almost no…

Introduction The intersection between law and economics has profoundly shaped modern legal theory, particularly through the work of economist Ronald Coase. His seminal 1960 paper, “The Problem of Social Cost,”…

Introduction Contract law forms the backbone of every market economy. It provides the legal framework that allows individuals and firms to make binding agreements, exchange goods and services, and plan…

Introduction Property rights form the foundation of any market-based economy. They define who owns what, who can use it, and how ownership can be transferred. Without well-defined and enforceable property…

Introduction Healthy market competition is the cornerstone of a thriving economy. It promotes efficiency, drives innovation, and ensures consumers receive better goods and services at lower prices. However, when firms…

Introduction Modern economies constantly face a central policy dilemma: how much should governments intervene in markets? The debate between regulation and deregulation lies at the heart of economic policymaking, shaping…