A theorem is a short pithy – sometimes – statement that describes a big idea. In this case, the big idea is that we can understand how law works in a single sentence or two.
And having a very concrete way to understand how law works, we can actually use that knowledge to make law work better. We can use that knowledge to help us design policies that achieve more of our societal objectives.
Our societal objectives can be categorized into buckets, such as Efficiency and Distribution – when we look at societies objectives in terms of these categories, we can learn to balance them better, using the levers of law, levers, such as incentives and penalties.
Learn how to best use those levers, and how they relate to objectives and we can meet more of our societal goals.
This book takes a law review article, published at Bocconi University School of Law, and publishes it as a book. The article is a clarification of the sixth most cited law review article of all time, that of the former dean of Yale Law School, one of the founders of the field of law and economics, and Second Circuit Court of Appeals Judge, the Honarable Guido Calabresi.
It is offered to the general public and the president of the United States to help us create better, more balanced policies.