Free Markets and Social Justice

by Cass R. Sunstein

The newest work from one of the most preeminent voices writing in the legal/political arena today, this important book presents a new conception of the relationship between free markets and social justice. The work begins with foundations--the appropriate role of existing "preferences," the importance of social norms, the question whether human goods are commensurable, and issues of distributional equity. Continuing with rights, the work shows that markets have only a partial but instrumental role in the protection of rights. The book concludes with a discussion on regulation, developing approaches that would promote both economic and democratic goals, especially in the context of risks to life and health.

Free Markets and Social Justice develops seven basic themes during its the myth of laissez-faire; preference formation and social norms; the contextual character of choice; the importance of fair distribution; the diversity of human goods; how law can shape preferences; and the puzzles of human rationality. As the latest word from an internationally-renowned writer, this work will raise a number of important questions about economic analysis of law in its conventional form.

Genres: Economics

416 pages, Paperback

First published February 6, 1997

About the author

Cass R. Sunstein is an American legal scholar, particularly in the fields of constitutional law, administrative law, environmental law, and law and behavioral economics, who currently is the Administrator of the White House Office of Information and Regulatory Affairs in the Obama administration. For 27 years, Sunstein taught at the University of Chicago Law School, where he continues to teach as the Harry Kalven Visiting Professor. Sunstein is currently Professor of Law at Harvard Law School, where he is on leave while working in the Obama administration.

Reviews

[Chris · Rating 3 out of 5]

The book, like all of those written by Sunstein, contains numerous important and interesting ideas. But it was written in 1997 and is now outdated in most respects. I'd recommend instead reading his more recent books, which analyze many of the same issues but with more current data and events.

[Ted Morgan · Rating 5 out of 5]

Vital reading. Highly recommended.