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Efficiency vs Ethics: Which is the Proper Decision Criterion in Law Cases?

  • The Journal of Libertarian Studies

Tags Monetary TheoryProduction Theory

Ever since economists undertook an economic analysis of the law there has waged the debate as to the proper criterion to use in deciding law cases. So far two criteria have occupied center stage: efficiency and ethics. This paper seeks to closely examine each criterion in terms of its relationship to two legal-philosophical concepts. First, each will be examined in terms of its ability to satisfy the overall objective of the law. Second, and in a general tone, the contractual origins of each will be discussed.

Volume 6, Number 1 (1982)

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Arnold, Roger A. "Efficiency vs Ethics: Which is the Proper Decision Criterion in Law Cases?." Journal of Libertarian Studies 6, No. 1 (1982): 49–57.