Law's Order
by David D. Friedman · first published 2000
3mentions
3recommended by
3HN commenters
2008–2019first – last mentioned
100% recommend
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…don't know well. That person gets a job, you get an employee, so you're both better off. As long as this benefit is greater than the cost of enforcing the law, that law has created wealth. I recommend Law's Order by David Friedman for a whole lot more on this subject. It's a fascinating introduction to the application of economics to law.
on “Russ Nelson on Speculation WRT PG's "Mind the Gap" Essay” ↗…Einstein obit—but Ronald Coase was one of the most creative economists of the 20th century and deserves to be widely known. For a great introduction to Coase's Theorem and its implications, I recommend Law's Order by David Friedman (available in a nearly illegible online edition at http://www.daviddfriedman.com/laws_order/, but I recommend the print version). It will challenge many of the things you think you know…
on “Economist's Theories Led to Carbon Trading – Ronald Coase Died Monday at Age 102” ↗…possibility of false positives -- but it has its adherents.) A real eye-opener for me regarding these questions of weighing the costs and benefits (i.e. the economics) of punishment was Thomas Friedman's book Law's Order. Until I read that, I thought the whole question was just a political fight. And while it certainly is a political fight, there's a much more objective kind of analysis available -- in fact, it's the…
on “Hitman hires hitman who hires hitman who hires hitman who hires hitman” ↗