Law Schools and the logic of the market!

Came across this an engaging read titled "The Real Problem With Law Schools" about the proliferation of law school graduates in the US and the economic analysis of law school education by Eric Posner:

"The only realistic way to help lawyers today is to increase the demand for legal services—somehow convincing governments, for example, to pay for adequate representation of indigent defendants—but in the long term, greater demand will create the expectation of yet more job growth, and that could lead to another bust. The critics seem to think the legal profession can escape the logic of the market. It can’t."

Law and Economics are so inextricably linked - even law school graduates are not spared the vagaries of the market!

Law, economics and international law

I have often highlighted the inextricable link between Law and Economics in the study and interpretation of international trade law here and here. The interplay is so obvious in the Panel and Appellate Body decisions of the WTO. Use of complex econometric models, economic analysis and an economic understanding of international law in the context of trade regulations underlies this approach.

A new book by Eric Posner and Alan Sykes titled "Economic Foundations of International Law" should be another masterpiece to this growing field of scholarship.

Opinio Juris has an interesting book symposium on it.