Money, Banks and Finance in Economic Thought

Law and Economics under the Palms: Henry Manne at the University of Miami, 1974-1980

Gindis David, University of Hertfordshire

Henry G. Manne’s pioneering contributions to law and economics reflected his belief that legal professionals, regulators and the public would benefit from greater exposure to what he called “market economics principles.” His contribution to theory in the 1960s broke the path for what became the economics of corporate law and securities regulation in the 1980s. But his most fundamental contribution was to the law and economics movement itself: over the course of the 1970s, Manne helped create, first at the University of Rochester, then at the University of Miami, the critical mass required for the successful development of the field. This paper deals with Manne’s time at Miami, and focuses on the operations of the Law & Economics Center (LEC) he founded on his arrival in 1974 and directed until his move to Emory University in 1980. Based on key LEC documents, the paper discusses the multiple facets of Manne’s vision for the practical development of law and economics as intellectually integrated disciplines, and highlights a number of his notable initiatives.

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Keywords: Henry Manne; Law and Economics; Law and Economics Center; University of Miami; Market Economics Principles

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