The Republic of Beliefs: A New Approach to Law and Economics

A leading economist offers a radically new approach to the economic analysis of the law

The Republic of Beliefs argues that the traditional economic analysis of the law has significant flaws and has failed to answer certain critical questions satisfactorily. Why are good laws drafted but never implemented? When laws are unenforced, is it a failure of the law or the enforcers? And, considering that laws are simply words on paper, why are they effective? Offering a provocative alternative to how the relationship between economics and real-world law enforcement is commonly understood, Kaushik Basu demonstrates the connections between social norms and the law and shows how well-conceived ideas can change and benefit human behavior. The Republic of Beliefs provides a new paradigm that will enable better laws and a fairer society.