The Republic of Beliefs: A New Approach to Law and Economics

Description

A leading economist offers a radically new approach to the economic analysis of the law In The Republic of Beliefs, Kaushik Basu, one of the world's leading economists, argues that the traditional economic analysis of the law has significant flaws and has failed to answer certain critical questions satisfactorily. Why are good laws drafted but n

Kaushik Basu is professor of economics and the Carl Marks Professor of International Studies at Cornell University. He was previously chief economist and senior vice president of the World Bank and chief economic advisor of the Government of India. His books include Beyond the Invisible Hand (Princeton) and Prelude to Political Economy.

"One of Diane Coyle's Best Economic Books of 2018" "One of the most interesting and exhilarating books I've read for ages. . . . This is a beautifully written book, very profound. . . . The Republic of Beliefs offers a distinctive and revealing perspective on public policy, and couldn't be more timely."---Diane Coyle, Enlightenment Economics "In this important book which is most lucidly written, Basu shows that a game-theory paradigm can lead us to ask critically important questions about what it is that might make people observe the law."---Robert Lee, Journal of Law and Society "An unqualified success. . . . the argument in its totality is overwhelming, and it is only to be hoped that practitioners of the discipline of law and economics will be willing to bring its suggestions to fruition. "---Mario Ferrero, Journal of Economics "The book is a message of hope that institutions and laws governing citizens are not static. It has the potential to reinvigorate the space for multidisciplinary inquiries into law and economics, and promises to develop a framework for law and economics that departs from orthodoxy."---Sarthak Gaurav, Economic & Political Weekly "The book resolves several conundrums faced by the existing L and E discipline. . . . the book provides a rich framework that can be used by the researchers and policymakers to address the outstanding issues."---Ram Singh, Indian Economic Review