LEC Workshop for Law Professors on Austrian Law & Economics

The goal of the LEC Workshop for Law Professors on Austrian Law and Economics was to provide law professors basic tools for understanding the Austrian school and a sense of how they might look at their research and teaching differently if they put on their “Austrian glasses”.

The Workshop presented the basic and distinctive ideas of Austrian economics, including market process v. equilibrium, spontaneous order, division of knowledge, entrepreneurship, and subjectivism, using historical issues as case studies to apply these ideas to particular concepts. The Workshop also covered Hayek’s contributions to law and economics, a comparison of Austrian and neoclassical approaches to law and economics, market magic and price formation experiments, and applications of Austrian perspectives to law and regulation.

The Mercatus Center’s F.A. Hayek Program for Advanced Study in Philosophy, Politics, and Economics hosted a presentation called “The Continuing Relevance of Hayek’s The Constitution of Liberty” given by Richard A. Epstein