Sunday, June 10, 2012

Law and Economics, Chicago-style

Q: How many Chicago School economists does it take to change a light bulb?
A: None. If the light bulb needed changing, the market would have done it by now.

... Ronald Coase—still writing in the field at the age of 101. “Coase is a god in China,” says Omri Ben-Shahar.

Chicago Law isn’t all about law and economics. President Barack Obama, after all, taught there from 1992 to 2004.
More zingers in "Will Success Spoil the Chicago School?" I think I am going to have to keep that light bulb joke in my back pocket.

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