I just received The Law Market, by lawprofs Erin O’Hara and Larry Ribstein. Here’s a short description:
In this book, Erin O’Hara and Larry E. Ribstein explore a new perspective on law, viewing it as a product for which people and firms can shop, regardless of geographic borders. The authors consider the structure and operation of the market this creates, the economic, legal, and political forces influencing it, and the arguments for and against a robust market for law. Through jurisdictional competition, law markets promise to improve our laws and, by establishing certainty, streamline the operation of the legal system. But the law market also limits governments’ ability to enforce regulations and protect citizens from harmful activities. Given this tradeoff, O’Hara and Ribstein argue that simple contractual choice-of-law rules can help maximize the benefits of the law market while tempering its social costs.
I haven’t read the book yet, but I did see Ribstein give a talk based on the book at AEI. Based on that talk, and my high regard for the authors’ work, I’m sure the book will be fascinating.
Comments are closed.