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In The Republic of Beliefs, Kaushik Basu, one of the world´s leading economists, argues that the traditional economic analysis of the law has significant flaws and has failed to answer certain critical questions satisfactorily. Why are good laws drafted but never implemented? When laws are unenforced, is it a failure of the law or the enforcers? And, most important, considering that laws are simply words on paper, why are they effective? Basu offers a provocative alternative to how the relationship between economics and real-world law enforcement should be understood.

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"In this thought-provoking book, Basu urges us to think in new and better ways about pressing problems at the intersection of economics and the law. His masterful command of the economist´s toolbox and broad understanding of the legal-economic nexus combine to generate a road map for exploring important questions left unaddressed by the traditional law and economics paradigm."--Steven G. Medema, author of The Hesitant Hand

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Kaushik Basu is professor of economics and the C. Marks Professor of International Studies at Cornell University. He was previously chief economist and senior vice president of the World Bank and chief economic advisor of the Government of India. His books include Beyond the Invisible Hand (Princeton) and Prelude to Political Economy.

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