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From a law and economics perspective, is income inequality a problem? What about wealth inequality? Explain your answer. Is a food stamp program likely to increase the nourishment of poor people? Consider the following hypothetical example. A poor family, before the food stamp program, spent $700 a year on food. The family receives food stamps…
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Should the gains to a criminal from committing a crime be counted as social gains? Explain your answer and give at least 1 example to support your answer. Suppose there is a class of automobile accidents in which the injurers are all very wealthy men. The opportunity costs of their time are so great that…
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Compare and contrast the Pareto concept of efficiency with the Kaldor-Hicks concept of Define behavioral law and economics. Why does Judge Posner, in his book Economic Analysis of Law, suggest that enthusiasm for behavioral law and economics should be tempered? State the Coase Theorem and Judge Posner’s application of it to the issue of property…