UNIV 3784 Lecture Notes - Lecture 5: Casebook, Transaction Cost, Coase Theorem
Document Summary
The transcendental nonsense piece is very notable, will come up in first-year courses. To realists, it was all about social conflict. Fuller thought policies were not always on the same page. In every contracts casebook, the evidentiary cautionary and channeling passage appears. Conflict is an inevitable and even beneficial feature of social life. Both the creation of the individual and group unity depends on conflict. Conflict generates in-group/outgroup, the basis of group unity, and an individual sense of purpose. Llewellyn says don"t believe what they say watch what they do. Fuller says you can"t understand rules unless you understand reasons for them. Good judging insists on keeping an eye out for policies at any given moment. We assume that the party who values the entitlement more will end up with it. However if they can"t afford it, wealth becomes a separate transaction cost.
