WEALTH MAXIMIZATION AS A CRITERION FOR EVALUATING THE LEGAL RULES

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NAEEMI SEYYED MORTEZA

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Journal: PRIVATE LAW STUDIES Year:2018 | Volume:47 | Issue:4 Page(s): 723-742

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Information Journal Paper

Title

WEALTH MAXIMIZATION AS A CRITERION FOR EVALUATING THE LEGAL RULES

Author(s)

NAEEMI SEYYED MORTEZA | Issue Writer Certificate

Keywords

AIM OF LAWQ1

EVALUATION OF LEGAL RULESQ1

LEGAL PRAGMATISMQ1

RICHARD POSNERQ1

WEALTH MAXIMIZATIONQ2

Abstract

Wealth maximization is the prevailing conception of efficiency in current literature of economic approach to law. This conception which is proposed by RICHARD POSNER, is used as a criterion for evaluating the legal rules. Posner claims that WEALTH MAXIMIZATION must be the purpose of law. This paper is to examine the meaning of WEALTH MAXIMIZATION from Posner’s perspective, and his defense of this concept in different phases of his thought. Moreover, we consider a few important criticisms of some scholars of this standard as to its conflict with moral values and individual basic rights. In the end, it is concluded that although WEALTH MAXIMIZATION does not have an intrinsic value, and cannot be the only goal pursued by law, it can be considered as one of the main objectives of law especially in private law. Wealth, on the other hand, is a necessary part of achieving many personal objectives and a vital element in protecting rights. Hence, legal system cannot ignore the effects of statutes on social wealth.

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APA: Copy

NAEEMI, SEYYED MORTEZA. (2018). WEALTH MAXIMIZATION AS A CRITERION FOR EVALUATING THE LEGAL RULES. PRIVATE LAW STUDIES, 47(4 ), 723-742. SID. https://sid.ir/paper/125036/en

Vancouver: Copy

NAEEMI SEYYED MORTEZA. WEALTH MAXIMIZATION AS A CRITERION FOR EVALUATING THE LEGAL RULES. PRIVATE LAW STUDIES[Internet]. 2018;47(4 ):723-742. Available from: https://sid.ir/paper/125036/en

IEEE: Copy

SEYYED MORTEZA NAEEMI, “WEALTH MAXIMIZATION AS A CRITERION FOR EVALUATING THE LEGAL RULES,” PRIVATE LAW STUDIES, vol. 47, no. 4 , pp. 723–742, 2018, [Online]. Available: https://sid.ir/paper/125036/en

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