LAW:
American Commercial Law: A Brief Celebration*

By Robert E. Hall and Susan E. Woodward

Hoover fellow Robert E. Hall and economist Susan E. Woodward examine our much-maligned system of commercial law-and find that it works pretty darned well. Why the United States doesn't have too many lawyers.

*This article is available only in the print edition of the Hoover Digest. Click here to request a free issue.

Robert Hall is the Robert and Carole McNeil Senior Fellow at Hoover and Professor of Economics at Stanford. An applied economist, his current research focuses on levels of employment and output in market economies and on the economics of high technology. He is a member of the National Academy of Sciences, a fellow of the American Academy of Arts and Sciences, and a fellow of the Econometric Society.