Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

law and economics

Read a random definition: malesworn

A quick definition of law and economics:

Law and economics is a way of thinking about how laws affect people and the economy. It looks at the costs and benefits of different legal rules and tries to find ways to make things work better for everyone. This can include things like finding ways to make people more efficient or promoting new ideas that might help people break the law in a way that is better for everyone.

A more thorough explanation:

Law and Economics

Law and Economics is a way of thinking about the law that uses economic principles to analyze legal issues. This approach involves comparing the costs and benefits of different legal rules, looking for ways to make the law more efficient for individuals and society as a whole, and exploring new ideas like "efficient breach."

  • When deciding whether to impose a new regulation on businesses, a Law and Economics approach would involve weighing the costs of compliance against the benefits of the regulation, such as improved safety or environmental protection.
  • In a lawsuit over damages caused by a breach of contract, a Law and Economics analysis might consider whether it would be more efficient for the parties to negotiate a settlement rather than going to trial.
  • Another example of Law and Economics in action is the use of cost-benefit analysis in determining the appropriate level of punishment for a crime. This approach involves weighing the costs of incarceration against the benefits of deterrence and rehabilitation.

These examples illustrate how Law and Economics can be used to make legal decisions that are more efficient and beneficial for everyone involved. By considering the economic impact of different legal rules and policies, we can create a legal system that promotes fairness, efficiency, and prosperity.

law | law and motion calendar

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
I am sorry if you like it, but TikTok is fucking awful
LSDFan
10:28
tiktok is great
triplethread
10:28
i lub tik tok and reddit and instantgram
Dkk
10:29
Nah, lol I hate it @texas. I remember when it was music.ly too and you used to have music.ly cringe compilations.
babycat
10:29
I do not have tiktok either because it makes my brain unhappy
10:29
how come i didnt get fordham AGAIN
Yeah, shit is awful. I have friends who spend hours a day on it
m10
10:30
Sorry to hear @Eggan
BulbasaurNoLikeCardio
10:30
I think tik tok is evil and coming from a national defense background, working in PSYOP and in the intelligence community I can promise it is.
glovediedthisishismom
10:30
5318008 now look at it upside down ;)
snow
10:31
tik tok and youtube reals has fried my brain
babycat
10:31
@glovediedthisishismom: boobies!!!
so off topic but dude eggan the weather here in nyc is insane
babycat
10:31
@BulbasaurNoLikeCardio: I wonder if you know my local psyops guy
m10
10:32
@BulbasaurNoLikeCardio: Yeah but like half the general officers are compromised so we might as well just give this country to China already. The head of the JAG corps used to tell us how much he loved Tiktok and he was a 1 star. These people should be court martialed. I hope Trump follows through on that promise the most.
it was 80 degrees three days ago and now it's like pouring rain sleet and wind
babycat
10:32
@jackfrost11770: we all living the same weather. I’m abt to go to the gym
babycat
10:32
I’m listening to car seat headrest
it's the worst when the weather is this shit and there isn't even any snow like at least let it be aesthetic (although snow in nyc is the opposite of that)
snow
10:33
india ass band
10:33
checking in on Wake Forest. Y'all heard anything?
LSDFan
10:34
@m10 are you FLEP
m10
10:34
@LSDFan: nah lol, I am just using my GI Bill. I do not feel like going back.
LSDFan
10:34
good call
BulbasaurNoLikeCardio
10:34
@m10: 110% agree, china has a truly amazing HUMINT network and espionage skills that much of our military is infiltrated or committing willful negligence of duty in prevent and protection. @babycat: PSYOP is pretty small on the AD side but I left the community to go play with Apaches and drones in 2018/19
10:35
Daily check in , stay chillin
10:35
anyone touring hls today?
10:35
Same @m10
10:36
also my softs are bordering t3-t2. would it be worth for me to R+R if im trying for t4
LSD+ is ad-free, with DMs, discounts, case briefs & more.