Unlocking the Economic Power of Law: How Policy Impacts Society
The article discusses how looking at law from an economic perspective can help us understand its impact on society. It focuses on how people working in law-related jobs provide a service and how laws affect policy decisions. By treating law as a product, we can see similarities with how economics is applied in other areas like land and health. The unique features of legal transactions, the role of persuasion, and the balance of costs and benefits are important factors to consider. Economics can help us analyze these aspects and gain insights into how laws shape our society.