Yet law and economics has neglected a feature of reality that is no less foundational than that of positive transaction costs: the large and variable costs associated with the political impediments that must be surmounted to achieve welfare-maximizing distributive results.
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That Law and Economics is an ideologically…
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Yet law and economics has neglected a feature of reality that is no less foundational than that of positive transaction costs: the large and variable costs associated with the political impediments that must be surmounted to achieve welfare-maximizing distributive results.