• 00:01    |    
    Initial credits
  • 20.8    |    
    Legal structure of a free market economy
    • Establishment of a free society
    • Legal process of a market economy
    • Importance of legal system
  • 04:0.5500000000000114    |    
    Political and legal requisites of a free market economy
    • Rule of law
      • Nondiscriminatory laws
      • Difficulties for finding honest judges
    • Independence of judiciary system
      • Life-time tenure
      • Life-time appointment versus popular elections
      • Private courts
    • Law system
      • Hierarchical courts
      • Limitations
    • Doctrine of precedent
      • Right of appeal
      • American administrative law
      • Benefits of a strict doctrine of precedent
      • Absence of private courts
      • Lack of law enforcement
  • 20:03    |    
    Common law in the United States
    • Evolution of British common law
    • Techniques for deciding common law cases
      • Austinian jurisprudence
      • Advantages for a free market society
      • Law, Legislation and Liberty, Friedrich A. Hayek
      • Incorporation of local custom
      • Academic support for Austinian jurisprudence
      • Sources of delusion of the Austinian legal structure
        • Growth of legislative regulation
        • Influence of administrative agencies
        • Effects of federal legislation on a economy
    • Intellectual and political pressures to abandon free market legal culture
      • American legal realism
      • Influence on American judges
      • Effect on the behavior of lawyers and judges
        • Reduction of legal competition
        • Overcoming Law, Richard A. Posner
        • Loss of confidence
    • Lessons of regulatory laws
      • Importance of rule of law
      • New guidelines for a free market society
      • Cost of economic regulation
  • 39:43.30000000000018    |    
    The proper role of judges in a free market society
    • Evolution of common law system
    • Generation of new rules of law
    • Spontaneous rules
    • Reciprocity between legal and economic systems
    • Enforcement of rules of free market economy
      • Clear constitutional mandate
      • Free market consistent decisions
        • Legislative direction
        • Specific economic education of lawyers and judges
    • Role of economists-judges
      • Comprehension of rule of law
      • Importance of market economics education
      • Examples from recent American legal history
        • Contracts of adhesion doctrine
        • American law product liability
      • Importance of judicial understanding of a free market system
  • 54:24.5    |    
  • 55:05    |    
  • 55:50    |    
    Question and answer period
    • How can the politization of the judiciary system be prevented?
      • Constitutional law system in the 19th century
      • Recent economic awareness in United States legal system
    • How is it possible to know if the right economics will be taught to judges and lawyers? Was a cultural change the main reason for the end of the common lawn system of the 19th century?
      • Right economics for judges and lawyers
      • End of the common law system of the 19th century
    • Would a guild of lawyers be more efficient than the current law businesses?
    • What is public good? Was Roscoe Pound the main influence of the American Legal Realism for the 1930 Supreme Court? Is it better to have an judicial system with good judges and bad laws or vice versa?
      • Judges and laws in a judicial system
      • Public good
      • American Legal Realism
    • What incentives would be proper for a judge to make efficient decisions?
  • 01:14:44.5    |    
    Final credits

The proper role of judges

New Media  | 05 de noviembre de 1996  | Vistas: 635

About this video

Professor Henry Manne, founder of the Law and Economics Center (LEC) at George Mason University, discusses the legal structure of a free market economy and some of its most important components: the rule of law, judiciary system independence, and the doctrine of precedent.  He talks about the relationship between the nature of legal and economic systems and how a misstep in one of these can jeopardize the benefits of a free society, as it was with the collapse of the common law system.  


The Proper Role of Judges
Dr. Henry Manne

Universidad Francisco Marroquín
Guatemala, November 5, 1996

A New Media - UFM production. Guatemala, October 2008
Conversion: Mynor de León; index and synopsis: Christiaan Ketelaar; content reviser: Daphne Ortiz; publication: Mario Pivaral / Carlos Petz