Legal Markets

IF 11.5 1区经济学 Q1 ECONOMICS

Journal of Economic Literature Pub Date : 2022-12-01 DOI:10.1257/jel.20201330

Gillian K. Hadfield

引用次数: 2

Abstract

The existence of an effective legal system is assumed throughout economic analysis, and yet there has been little study of the economics of legal markets themselves. Research to date has focused narrowly on the economics of markets for lawyers. In this review, I distinguish legal markets from the market for lawyers and show how excessive regulation of our legal markets—by lawyers themselves—distorts economic activity and growth. It does so primarily by inhibiting investment in the legal and regulatory technologies needed to respond to the transformation of the economy wrought by globalization, digitization, aspirations for inclusion, and the coming of artificial intelligence. (JEL J44, K00, K40, L84)

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法律市场

在整个经济分析中，人们都假设存在一个有效的法律体系，但对法律市场本身的经济学研究却很少。迄今为止，研究仅限于律师市场经济。在这篇综述中，我将法律市场与律师市场区分开来，并展示了律师对我们的法律市场的过度监管是如何扭曲经济活动和增长的。它主要通过抑制对法律和监管技术的投资来应对全球化、数字化、包容性愿望和人工智能的到来带来的经济转型。（JEL J44，K00，K40，L84）

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Journal of Economic Literature ECONOMICS-

CiteScore

17.80

自引率

0.80%

发文量

期刊介绍： Commencing in 1969, the Journal of Economic Literature (JEL) serves as a vital resource for economists, offering a means to stay informed about the extensive literature in the field. Each JEL issue features commissioned, peer-reviewed survey and review articles, book reviews, an annotated bibliography categorizing new books by subject, and an annual index of dissertations from North American universities.

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