One of Chicago’s Best Ideas was the Coase Theorem, which reminds us daily that people can bargain around law or even before legal intervention is sought. But do we have too much law and too little bargaining around it? The number of cases and judges has grown dramatically over time and many problems are outsourced to the legal system, rather than being handled person-to-person. In this talk, I will consider conventional explanations for the astonishing growth of the legal system, and then suggest that it is not entirely good news. We have become addicted to law, and like most addictions, this one is difficult to undo and likely to grow.

Chicago’s Best Ideas, or CBIs, are a Law School tradition. A faculty member gives a short talk (there is time for questions) about important idea developed at Chicago with an updated twist, often, but not always from the speaker’s own observations or scholarship. Everyone is invited, but the talk is always designed to be accessible by first year students. Needless to say, it comes with lunch – and the lunch boxes are usually something of an upgrade from the usual lunches associated with lunchtime programs. CBIs are popular, so you might want to get there early if you do not have a class just before the starting time of 12:15 p.m.