Tragic Choice: The Conflict Faced by Society When Tragically Allocating Scarce Resources

Author: Guido Calabresi
Publisher:
Publication Date: 2005-04-01
Features: Scarcity is a fundamental fact of existence. Scarcity issues are pervasive in the decisions society must make, which determine the quantity of specific goods to be produced and who should receive them. In this bold and innovative work, two legal scholars explore the tensions and tragic outcomes often accompanying such decisions, whether they occur within a market context, in the political sphere, or are simply influenced by customs. The subtitle—social conflicts encountered when scarce resources are tragically allocated—specifically defines the scope of the book's research. This is a problem that any society faces, whether in Britain, Italy, or our own country, and the tragic reality of allocating scarce resources inevitably leads to harsh consequences, often manifesting in different forms and severely troubling human life. After analyzing various types of decisions that must face tragic allocations and their outcomes, the authors propose an insightful theory. This common-sense theory has now become a crucial consideration in contemporary legal economics research. The author, Guido Calabresi, is a leading figure in the Chicago School of Law and Economics, and the book is one of the most highly cited academic works in law since 1978 in the United States.