Law and Economics Analytical Essay by Top Papers

In this article, the writer discusses that the cases of Miller et al. v. Schoene (1928) and Boomer v. Atlantic Cement Co. (1970) both touch upon similar issues in law and economics related to property and liability. The writer argues, in comparing and contrasting the rulings in the two cases, that in evaluating real world circumstances and cases the law does not reflect pure economic analysis of these questions but, rather, has tended to treat negative externalities by a liability rule as opposed to a property rule.