The Relevance of Law and Economics for Practical Reasoning

In this paper, I will show that most of the debates regarding the relevance of law and economics for practical decision-making (law and economics is then used to make a choice in the real world) are based on the idea that there would exist a scientific “right” way to approach legal issues and decision making. According to this perspective, all issues (legal, political or scientific) should be addressed using the same method and the same scientific rationality. If we deviate from this very modern (and utopic) conceptualization to stress an inherent difference between practical reasoning and scientific reasoning, it is impossible to deny the relevance of law and economics for practical decision-making in the realm of law. This approach will also force us to reconsider the relevance and practice of law and economics.