The overarching aim of this conference is to examine the relationship between the disciplines of economics and law. In doing so, we hope to generate constructive dialogue and debate between the different perspectives and approaches found at the intersection of economics and law.

A decade on from the financial crisis, this conference comes at an opportune moment. The financial crisis had important repercussions for the social sciences. In particular, in exposing the fallibility of economic analysis and expertise, it has led many to question the faith placed in economics. Economics, along with the rest of the social sciences – law included - must necessarily respond to this challenge. Whilst there have been numerous events across the social sciences looking at the way in which disciplines have evolved in the post-crash years, there has been little sign of such consideration in legal studies, especially in UK legal studies. It is therefore in this light that the conference approaches the economics-law relationship. The conference will provide an opportunity both to reflect on this important, evolving relationship and to recognise new directions and themes for research at the meeting-point of economics and law.

Typically, interaction between law and economics has come about because economists, armed with core tools and concepts from mainstream economics, turn their attention to law and legal institutions. For many, traditional Chicago School Law & Economics defines the relationship between economics and law, but the Chicago School has evolved significantly – importantly taking a behavioural turn in recent years. The growing diversity of opinion and approach within economics is important for law. Where do these new or heterodox strands of economics and fit within contemporary legal studies? Can behavioural economics act as a bridge between Law & Economics and socio-legal studies? 

The conference engages with strong, ongoing campaigns for pluralism in economics. There is impetus from all sides of the political spectrum behind new ideas and understandings about markets. This conference therefore ambitiously looks to the future: just as economists have contributed to discourse in law, what pathways are opening for legal scholars, particularly socio-legal scholars, to influence how we think about markets?

More broadly, this conference asks: can we fashion a more inclusive law and economics movement: for example, one that recognises both important insights from Law & Economics, and the way in which law regulates market behaviour, as well as law’s role in constituting market relations, and heterodox perspectives, such as those provided by economic sociology?