Yale Law School is famous for producing some of America’s leading legal minds. But in the last few years it has become notorious — at least among economists like me — for spawning some of its most prominent economic thinkers, too.
The Yale Law School of Economics, which has adherents on both the left and right, marks a significant break from the orthodoxy of most economic theory and the empirical evidence of the past. In general, its proponents are skeptical of free trade and corporate power. They see the decline in manufacturing employment as a serious policy error that needs to be remedied. And they have a deep concern for national security, especially as it relates to China, accompanied by the belief that economic policy is the tool that will make the US safer.
