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Notes
The reader will note that one can explain this in economic terms, too.
This was originally published in the Journal of Law and Economics in 1983.
His argument is that the legislative arena is the appropriate venue for undertaking moves to promote distributive justice.
This simply because this reviewer is more interested in the history of law and economics than in the practice of it.
Though Buchanan is not an Austrian in the strict sense, his essay in this volume illustrates the subjectivist approach that is central to Austrian value theory.
However, the editors’ definition of the field is not as broad as what one finds, for example, in Mercuro and Medema’s Economics and the Law: From Posner to Post Modernism and Beyond (2006).
References
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Kuyper, A. (1880). Sphere sovereignty. In J. D. Bratt (Ed.), Abraham Kuyper: A centennial reader (pp. 461–490). Grand Rapids: Eerdmans, 1998.
Medema, S. G. (2009). The hesitant hand: Self-interest, market, and state in the history of economic thought. Princeton: Princeton University Press.
Mercuro, N., & Medema, S. G. (2006). Economics and the Law: From Posner to post modernism and beyond. Princeton: Princeton University Press.
Mirowski, P. (2002). Machine dreams: How economics became a cyborg science. Cambridge: Cambridge University Press.
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Medema, S.G. Francesco Parisi and Charles K. Rowley, eds., The Origins of Law and Economics: Essays by the Founding Fathers . Rev Austrian Econ 22, 113–118 (2009). https://doi.org/10.1007/s11138-008-0056-2
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DOI: https://doi.org/10.1007/s11138-008-0056-2