enestående Laws Order by David D. Friedman mf5FiqIb

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What does economics have to do with law Suppose legislators propose that armed robbers receive life imprisonment. Editorial pages applaud them for getting tough on crime. Constitutional lawyers raise the issue of cruel and unusual punishment. Legal philosophers ponder questions of justness. An economist on the other hand observes that making the punishment for armed robbery the same as that for murder encourages muggers to kill their victims. This is the cuttothechase quality that makes ec