This approach advocates that the law should be interpreted (and cases should be decided) in a way that distributes economic costs and benefits to promote economic efficiency and maximize wealth.

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Law and economics, also known as the economic analysis of law, is the approach that applies economic principles to the analysis of law. It advocates for the interpretation of laws in a manner that promotes economic efficiency and maximizes wealth, focusing on the outcomes of legal decisions as they relate to economic costs and benefits.

This Approach Advocates That the Law Should Be Interpreted (And