Thursday, April 24, 2008

Armen Alchian and Hong Kong Judges' Economic Training

Any Alchian student or fan knows that Armen also had a heavy influence in the training of judges and lawyers through the George Mason Law and Economics Center Program started by Henry Manne. In an important antitrust policy speech, former FTC Chairman Timothy Muris articulates a sentiment I’ve heard repeatedly from those who went through the program or watched Armen teach:

Armen Alchian was unexcelled in teaching economics to lawyers. He often presented economics socratically - a technique familiar to lawyers. For years Armen was one of the most popular instructors in Henry Manne’s programs for teaching economics to lawyers. In short courses, he taught literally hundreds of federal judges and law professors.

That's from Josh Wright, a student of both Ben Klein and Armen and now at George Mason University Law School himself on Armen's 94th birthday. Read more here.
Now that HK is contemplating to have a competition law, I am really curious about the ability of HK judges ability in deciding cases involving some serious econometrics, price theory, game theory and what not. That makes me worried.

May be HK should considering hiring someone like Armen, Demsetz or Josh to offer some economics crashcourses for the local judges?

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