Each year, one law school professor is chosen to give the annual Coase Lecture, on a topic of his/her choosing and that highlights and introduces students, faculty, staff and community members to the field of law and economics. This year the Professor Anthony Casey has agreed to give the annual Coase Lecture. The title of his talk is  "The Short Happy Life of Rules and Standards."

The choice between rules and standards in lawmaking is a central question. But the line between the two forms is not as clear as most scholars presume. This talk argues that the lack of a coherent  unifying principle in the rules-and-standards distinction is becoming more evident as technologies behind lawmaking evolve. It will explore the leading accounts of rules and standards, the insights they have provided into the process and meaning of law, and why the distinction may be reaching the end of its useful life. The talk will conclude with thoughts on how we should think about forms of law going forward.

This lecture is in honor of Ronald Coase. Coase, who spent most of his academic career at the University of Chicago Law School, helped create the field of law and economics through groundbreaking scholarship that earned him the 1991 Nobel Memorial Prize in Economic Sciences and through his far-reaching influence as a journal editor.

We hope you will join us for this wonderful event. The event is free and open to the public, but seating may be limited. Reception to follow immediately after the lecture.

Download the poster