His second major article, The Problem of Social Cost , argued that if we lived in a world without transaction costs, people would bargain with one another to create the same allocation of resources, regardless of the way a court might rule in property disputes. Coase used the example of a nuisance case named Sturges v Bridgman, where a noisy sweetmaker and a quiet doctor were neighbours and went to court to see who should have to move. So the law ought to pre-empt what would happen, and be guided by the most efficient solution. The idea is that law and regulation are not as important or effective at helping people as lawyers and government planners believe.
Each year more than 1000 students choose to study Law, Notarial Law, Tax Law or Criminology. We encourage all members of the UCLA Law community to monitor UCLA’s coronavirus page and Bruins Safe Online for updates and resources. No man knew what his water rights were until they had been lawed over, and lawed over, and lawed over again.
- This isn’t just any law school, it’s the one that has more judges in more courtrooms than any other.
- In the UK the upper