Henry Manne presents an historical account of how the field of law and economics developed. During the late ninteenth century, the scientific approach at Harvard School of Law was the prevailing view, but it was challenged during the 1920s by the American legal realists.  It was not until the 1940s that economic analysis was introduced to the study of law by Aaron Director at the University of Chicago.  In the 1960s, Armen Alchian, Ronald Coase, and Guido Calabresi also made significant contributions. Finally, the field of law and economics emerged during the 1970s when Richard A. Posner published his influential book, Economic Analysis of Law.