Overview

Over the past fifteen years, there has been a growing interest in altering legal rules to redistribute wealth, with many scholars believing that neoclassical economic theory is biased against redistribution. Yet a growing number of progressive scholars are pushing back against this view. Toward an Inframarginal Revolution offers a fresh perspective on the redistribution of wealth by legal scholars who argue that the neoclassical concept of the gains from trade provides broad latitude for redistribution that will not harm efficiency. They show how policymakers can redistribute wealth via taxation, price regulation, antitrust, consumer law, and contract law by focusing on the prices at which inframarginal units of production change hands. Progressive and eye-opening, this volume uses conservative economic concepts to make a compelling case for radically redistributing wealth. This title is part of the Flip it Open Programme and may also be available open access. Check our website Cambridge Core for details.

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9781009306775

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Ramsi A. Woodcock is the Wyatt, Tarrant & Combs Associate Professor of Law at the University of Kentucky Rosenberg College of Law with secondary appointment in the Gatton College of Business & Economics. He is best known for his paper The Obsolescence of Advertising in the Information Age, 127 Yale L. J. 2270, which calls for a general ban on commercial advertising. He has also argued that firms that employ algorithmic pricing should be required to use the algorithms to personalize high prices to the rich and low prices to the poor.

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