Law is supposed to encourage invation, morality, and conformity with societal expectations, yet it may provides perverse incentives causing individuals, or even the State, to act in discordant, inefficient, and even immoral ways. This book will explore the inefficiencies that are created that serve to deny individuals work and shelter in a haphazard and capricious manner. The author examines property rights, including eminent domain, that lets the State take property away with seemingly arbitrary compensation to the owner.Individuals must understand both civil law, codified by statutes, and common law, enshrined in precedential judicial decisions. This book is written for ecomists and n-ecomists and has an extensive glossary of ecomic, political and legal terms. Two items that are t formally treated in other ecomics of law textbooks are the legal organization of businesses and tax law from an ecomics perspective.
Zagros Madjd-Sadjadi is professor of economics, master of healthcare administration program coordinator, and former chair of the Department of Economics and Finance at Winston-Salem State University. He was the first chief economist of the city and county of San Francisco and is the author of the companion Business Expert Press book, The Economics of Crime. He has written papers published in top academic journals in economics, political science, international relations and criminal justice. Dr. Madjd-Sadjadi has a BS degree in computer science and a BA in economics from Sonoma State University. He holds a PhD in political economy and public policy from the University of Southern California and is a former Occidental Petroleum Canada-United States Fulbright Scholar to the Institute for Intergovernmental Relations at Queen's University in Kingston, Ontario.