Is economic efficiency a sound basis upon which to make public policy or legal decisions? In this sophisticated analysis, Richard S. Markovits considers the way in which scholars and public decision-makers define, predict, and assess the moral and legal relevance of economic efficiency. The...

Introduction to The General Theory of Second Best, Its Central Implications, and the Appropriate Way to Respond to It -- The Economics Profession’s Responses to The General Theory of Second Best: Descriptions and Critiques -- The Concept of “the Impact of a Choice (or Natural Event) on...

The Article analyzes the possibly predatory character of both investment decisions unrelated to system rivalry and systems rivalry. It argues that an investment unrelated to systems rivalry is predatory if the investor's ex ante perception that it would be at least normally profitable was...