We invite you at CADI on Friday, 8th April 2011 at 1800 to take part in a discussion regarding the similarity between Hayek’s theories about economy and law, starting from Stringham&Zywicki’s recent article.

“Hayek famously described the competitive process of the market as a “discovery process.” In writing about law, Hayek coincidentally referred to the role of the judge under the common law as “discovering” the law in the expectations and conventions of people in a given society. … Once this conceptual similarity is recognized, certain conclusions logically follow: namely, that just as economic discovery requires the competitive process of the market to provide information and feedback to correct errors, competition in the provision of legal services is essential to the judicial discovery in law.” (Stringham&Zywicki).

In “The Use of Knowledge in Society” Hayes shows why the efficient supply of services is dependent of using the ambiguous knowledge dispersed in local contexts and why ambiguous and dispersed knowledge can’t be used in the free enterprise absence. If this argument functions more easily for common services, Edward Stringham and Todd Zywicki believe that it can be extended to the supply of legal services too.

Program

18:00 Ionut Sterpan presents

18:20 Discussions

Text

Edward Stringham & Todd Zywicki, (Jan. 2011). „Hayekian anarchism”, George Mason Law & Economics Research Paper No. 11-06. (Available at SSRN: http://ssrn.com/abstract=1744364)

http://cadi.ro/docs/workshop/2011-04-08-Stringham+Zywicki.pdf