Abstract
LEXISNEXIS SUMMARY: ... Substantively, postmodernism stands opposed to the notion of objectivity in law, insisting instead that law has no foundations, no external referents. ... The Birth of Postmodern Legal Thought Postmodern legal thought originated in the realist revolt against legal formalism. ... It is here that we find in Cohen, the root of the modern/postmodern divide. ... It offers certain central concepts, such as wealth maximization, as plausible instrumental ends in some contexts. ... The central argument is that a fully postmodern EAL would bring the same skepticism to economics that Posner's legal pragmatism has brought to jurisprudence . ... In challenging both the methods employed by and the values incumbent in neoclassical economics, institutionalism provides one possible version of what a postmodern economics might look like. ... If wealth maximization and rational economizing behavior adequately capture a social phenomenon, then a postmodern EAL would embrace those notions. ... Second, the orthodox notion of rational economizing behavior seems particularly useful in describing market exchanges. ... Standardized forms reduce drafting costs, eliminating haggling over terms and the delays incumbent therein. ... Ultimately, the postmodern approach to unconscionability will turn on the instrumental goal of cost reduction.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
