The Exchange Order
Call Number: K5215 .A93 2017
Richard Adelstein argues that while markets, torts, and criminal justice are ostensibly different constellations of institutions, organizations and individuals, they are remarkably alike. Each governs a particular kind of exchange through a distinctive set of institutions,rules and procedures. They have all evolved over many centuries from the same root, a deep-seated human propensity to communicate with others through trade, to exchange goods for goods and costs for costs as a means of reconciling opposing interests and increasing personal welfare. They perform thesame social function, facilitating individually efficient exchanges of rights and compensatory prices, in very different exchange environments that demand very different institutional responses to the problem all three are in place to solve: identifying efficient transfers and seeing that they arecompleted.The Exchange Order provides a sweeping historical, comparative, and philosophical analysis of how rights and objects, goods and harms, are exchanged in these apparently very different realms.