Dr. Henry Manne presents an historical account of how the field of law and economics developed. During the late ninteenth century, the scientific approach at Harvard School of Law was the prevailing view, but it was challenged during the 1920s by the American legal realists. It was not until the 1940s that economic analysis was introduced to the study of law by Aaron Director at the University of Chicago. In the 1960s, Armen Alchian, Ronald Coase, and Guido Calabresi also made significant contributions. Finally, the field of law and economics emerged during the 1970s when Richard Posner published his influential book, Economic Analysis of Law.
Henry G. Manne
Henry G. Manne is the former dean at George Mason University School of Law. His areas of expertise include, law and economics, legal education, university governance, and insider trading. He is the founder of the Law and Economics Center (LEC) at George Mason University. The American Law and Economics Association, where he is an honorary life member, named Manne one of the founders of the field of law and economics. He has numerous publications, including Insider Trading and the Stock Market; "An Intellectual History of the School of Law, George Mason University"; and "Mergers and the Market for Corporate Control," published in the Journal of Political Economy in 1965. Manne has a BA from Vanderbilt University, a JD from University of Chicago, and a JSD from Yale University. He has also received honorary doctorates in law from Seattle University, Universidad Francisco Marroquín in Guatemala, and George Mason University.