Essays on the Economic Role of Government Volume 2 Applications [Paperback]

Contains a collection of articles applying fundamental concepts of power, property, regulation and the compensation principle to contemporary topics: the wealth maximization hypothesis, the Coase theorem, public utility regulation, and other topics in law and economics.Part 1 The wealth maximization hypothesis: maximization of wealth as justice - an essay on posnerian law and economics as policy analysis; posnerian law and economics on the bench; wealth maximization and judicial decision-making - the issues further clarified. Part 2 The coase theorem and rent seeking: the coase theorem and the study of law and economics; a critique of rent-seeking theory. Part 3 Public utility regulation: property rights, equity, and public utility pricing; survival and pareto optimality in public utility rate making; utility late payment charges; the usury issue in public utility late payment charges; public utility rate making and competitive structure - carterfone in jepoardy; on the effect of regulation on value; regulation and valuation. Part 4 Interpretive and critical essays: technology, labor interests, and the law - some fundamental points and problems; interdependence and impacts - toward the integration of externality, pubic goods, and grants theories; the myths of liberty and realities of the corporate state - a review article; anarchism and the theory of power.