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Explore an alternative framework to conventional public policy analysis in this lecture that challenges the traditional dichotomy between unregulated markets and government regulation. Learn how Professor John Hasnas from Georgetown University presents the concept of common law liberalism, arguing that common law functions as an inherent regulatory mechanism within market systems rather than requiring external government intervention. Discover how this perspective reframes debates about market regulation by demonstrating that the choice between free markets and government oversight represents a false dilemma. Examine the philosophical and practical implications of viewing common law as a built-in regulatory device that naturally emerges within market structures. Gain insights into jurisprudence, legal philosophy, and economic theory as Hasnas draws from his expertise in ethics, legal history, and market studies to present this compelling alternative to standard regulatory approaches.
