Davies, Will. 2010. ‘Economics and the “nonsense” of law: the case of the Chicago antitrust revolution’. Economy and Society, 39(1), pp. 64-83. ISSN 0308-5147 [Article]

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Abstract or Description

The Law and Economics movement that emerged in the University of Chicago through the 1940s and 1950s, around Ronald Coase's example, is a manifestation of the neo-liberal project of applying neo-classical economics to state sovereignty. In the 1970s and 1980s, Law and Economics ideas revolutionized the application of antitrust laws in the United States. However, this achievement came about not through a transformation in economic orthodoxy, but through persuading legal experts to recognize the inherent ‘nonsense’ at work in their own normative assumptions. The Chicago antitrust revolution is therefore symptomatic of trends that Foucault viewed as definitive of neo-liberalism more broadly.

Item Type:	Article
Identification Number (DOI):	https://doi.org/10.1080/03085140903020655
Departments, Centres and Research Units:	Politics
Dates:	Date Event February 2010 Published
Item ID:	12511
Date Deposited:	10 Aug 2015 09:57
Last Modified:	30 Jun 2017 10:16
Peer Reviewed:	Yes, this version has been peer-reviewed.
URI:	https://research.gold.ac.uk/id/eprint/12511

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