Legal Origins and the Efficiency Dilemma

Nuno Garoupa, Carlos Gómez Ligüerre, Lela Mélon

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English

Routledge
08 August 2019

Microeconomics; Systems of law; Comparative law; Commercial law; Intellectual property law

Series: The Economics of Legal Relationships

Economists advise that the law should seek efficiency. More recently, it has been suggested that common law systems are more conducive of economic growth than code-based civil law systems. This book argues that there is no theory to support such statements and provides evidence that rejects a 'one-size-fits-all' approach. Both common law and civil law systems are reviewed to debunk the relationship between the efficiency of the common law hypothesis and the alleged inferiority of codified law systems.

Legal Origins and the Efficiency Dilemma has six aims: explaining the efficiency hypothesis of the common law since Posner’s 1973 book; summarizing the legal origins theory in the context of economic growth; debunking their relationship; discussing the meaning of 'common law' and the problems with the efficiency hypothesis by comparing laws across English speaking jurisdictions; illustrating the shortcomings of the legal origins theory with a comparative law and economics analysis; and concluding there is no theory and evidence to support the economic superiority of common law systems. Based on previous pieces by the authors, this book expands their work by including new areas of analysis (such as trusts), detailing previous analysis (such as French law versus common law in the areas of contract, property and torts), and updating for recent developments in the academic discourse.

This volume is of interest to academics and students who study microeconomics, comparative law and foundations of law, as well as legal policy analysts.

By: Nuno Garoupa, Carlos Gómez Ligüerre, Lela Mélon
Imprint: Routledge
Country of Publication: United Kingdom
Dimensions: Height: 234mm, Width: 156mm,
Weight: 390g
ISBN: 9780367251017
ISBN 10: 0367251019
Series: The Economics of Legal Relationships
Pages: 198
Publication Date: 08 August 2019
Audience: College/higher education , Primary , A / AS level
Format: Paperback
Publisher's Status: Active

List of illustrations Acknowledgments PART I: Legal origins in a nutshell – inherent dangers of its blind acceptance 1 Introduction 2 The danger of a globally accepted theory containing major flaws 3 The efficiency of the common law hypothesis 4 Legal origins: the comparative perspective 5 The evolution of the common law and efficiency: what is the meaning of common law? Why efficient common law Tort law Defamation law Professional responsibility Cost rules in civil litigation Civil juries Brief examples to guide to more detailed overviews PART II: Piercing the veil – application of legal origins to specific legal institutes 6 Contrasting common and civil law: private law Bona fide purchase Titling of property Principle of non-cumul in torts and contracts The Good Samaritan Rule 7 Contrasting common and civil law: legal governance and the specialization of courts The model Administrative courts Commercial courts Constitutional courts 8 The puzzle of mixed law jurisdictions Contrasting common and civil law: the role of trusts and mixed legal jurisdictions PART III: Modern dilemmas in US and EU law as representatives of the two distinct legal families 9 Contrasting civil and common law: the area of intellectual property Why intellectual property law? On intellectual property How are the US and the EU approaching the field? Efficiency of trademark protection in common and civil law systems Geographic indications Patent protection in the US and EU The efficiency of the ‘fair use’ doctrine under the conditions of two distinct copyright law systems 10 Contrasting common and civil law: corporate law in the US and EU Inherent flaws of the legal origins in researching the field of corporate law: the taxonomy of countries Inherent flaws of the legal origins in researching the field of corporate law: coding errors The inherent dangers of the persisting influence of legal origins theory on the international level The US and EU: legal origins and individual institutes in US and EU corporate laws Bibliography Index

Nuno Garoupa is Professor of Law at Texas A&M University, School of Law, and holds the Chair in Research Innovation at Católica Global School of Law, Lisbon, Portugal. Carlos Gómez Ligüerre is Professor of Private Law at the Pompeu Fabra University (Universitat Pompeu Fabra), Barcelona, Spain. Lela Mélon is Adjunct Professor of Law at the Pompeu Fabra University (Universitat Pompeu Fabra), Barcelona, Spain.