The Republic of Beliefs by Kaushik Basu

The Republic of Beliefs

Book Description

The Republic of Beliefs proposes a fresh way of thinking that will enable more effective laws and a fairer society. Furthermore, highlights the limits and capacities of law and economics. Moreover, if you are looking for full version pdf of the book The Republic of Beliefs by Kaushik Basu. Just have a look at its review and scroll down to get its full version.

The Republic of Beliefs

by Kaushik Basu

A leading economist, Kaushik Basu argues that the traditional economic analysis of the law has significant flaws and has failed to answer certain critical questions satisfactorily.

Why are good laws drafted but never implemented?
When laws are unenforced, is it a failure of the law or the enforcers?
And, most important, considering that laws are simply words on paper, why are they effective?

First of all, Basu offers a provocative alternative to how the relationship between economics and real-world law enforcement should be understood. He summarizes standard, neoclassical law and economics before looking at the weaknesses underlying the discipline. Bringing modern game theory to bear, he develops a “focal point” approach.

Most noteworthy, he demonstrates the connections between social norms and the law and shows how well-conceived ideas can change and benefit human behavior. For example, bribe givers and takers will collide when they are treated equally under the law. And in food support programs, vouchers should be given directly to prevent shop owners from selling subsidized rations on the open market.

The Author: Kaushik Basu

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Kaushik Basu is a professor of economics and the Carl Marks Professor of International Studies at Cornell University. Previously, he was a chief economist and senior vice president of the World Bank and chief economic advisor of the Government of India.

His books include Beyond the Invisible Hand (Princeton) and Prelude to Political Economy.

Important Note:

Kaushik Basu, one of the world’s leading economists offers a radically new approach to the economic analysis of the law in The Republic of Beliefs.

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