The Global Benefits of the Law & Economics Framework in Legal Education: Overview (Part 1)

This is the first in a series of articles that overarchingly proposes that the globalization of markets necessitates the integration of the Law & Economics Framework into legal education across all legal systems. The goal of this article is to introduce readers to the Law & Economics Framework by providing an overview of relevant terms, concepts, and historical background. This article discusses the interplay of lawyers and globalization; defines the Law & Economic Framework and its origins; details relevant principles of economics; and delves into some criticisms of the Framework. The remainder of the series will be devoted to demonstrating that the intersection of international commerce and national laws necessitates the implementation of the Law & Economics Framework in legal education across legal systems.