Book Review:
Warren J. Samuels, Maximization of Wealth as Justice: An
Essay on Posnerian Law and Economics as Policy Analysis
(reviewing Richard A. Posner’s The Economics of Justice), 60
TEXAS L. REV. 147 (1981).
Abstract:
In this Book Review, Professor Samuels discusses the structure
and main points of Judge Posner’s book. Posner’s work is divided
into four parts: articulation and defense of justice as wealth
maximization; an economic analysis of certain legal and social
arrangements; an analysis of privacy; and legal control of
racial discrimination. Next, he analyses the usefulness of
Posner’s work, calling it “imaginative, fecund, and suggestive.”
Furthermore, he examines some confusions of the work, such as
those arising from the tautological nature of Posner’s analysis
of “maximization,” and ambiguous treatment of the rationality
proposition, according to Professor Samuels. The Review also
talks about the issue of distribution of wealth and the
principle of wealth maximization as discussed in Posner’s work.