The Law & Economics Center launched a series of programs to examine what has been named the “Law & Political Economy Project” (LPE) by its founders at Yale Law School. The LEC programs evaluated the challenges the LPE Project makes to the findings and utility of law and economics scholarship and the challenges it makes to the basic tenets of free markets and capitalism.

One format in this series was the LEC’s Seminar on the Law & Political Economy Project, for which we have held two iterations that each welcomed 15-20 academic scholars. Participants engaged in roundtable discussions grounded on a diverse set of readings from, and in discourse with, the LPE Project and its network of scholars.

One underlying question: Does abundance obtain only by adherence to a paradigm that sets the conditions for human flourishing through following basic tenets of free markets, capitalism, the rule of law, individual freedom, equality of economic opportunity, and neutral resolution of disputes, enforcement of rights, and recognition of private ordering from an independent judiciary?

Or, are these institutions and principles instead roadblocks to progress and flourishing, as the growing LPE Project maintains? An excerpt from Yale’s LPE Project website demonstrates that it seeks to promote scholarship that is highly critical of markets, capitalism, and classical liberal values.

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Newly-developed programming from the Law & Economics Center – like this first-of-its-kind seminar – sought to create environments for insightful analysis exploring these concerns.

Each Seminar on the Law & Political Economy Project involved intensive discussion on the scholarly work from the LPE Project, from the literature that is challenged by the LPE Project, and from emerging literature that challenges the LPE Project. All accepted participants were sent a packet of required readings that formed the basis of the discussion. A commitment to read all materials in advance was a prerequisite for acceptance into the seminar.

At each seminar, a small group of about 15-20 scholars carefully accepted through the application process gathered for 3 days of intensive discussions on topics centered on the rigorous reading packet. Two experienced discussion leaders guided the conversations.

No prior knowledge of or familiarity with the LPE Project was required to apply.  Indeed, the seminars were designed to help introduce scholars to this debate. The only requirements were an interest to learn more about these subjects and a desire to use that knowledge in the discourse within the larger academic community—through writing, speaking, or adjusting teaching based on what is learned.

Other goals include that attending scholars would become interested in writing their own papers on these subjects (with the potential to apply for LEC grants to support that scholarship), participate in future forums on these topics (sponsored by the LEC or others), and generally engage and educate their peers and others about these issues from the information they gather at the seminar.

The second Seminar on the Law & Political Economy Project took place Sunday, October 20 through Wednesday, October 23 in San Diego, California.

If you have any questions, please contact Angelica Sisson at [email protected] or 703.993.2566.