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The LPE Critique of Law and Economics
Sanga, Sarath
Sanga, Sarath
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Abstract
The article critically examines the law and political economy (LPE) critique of law and economics, highlighting its central claim that economic methodologies are not neutral but serve to reinforce existing power structures and market dominance. While acknowledging the validity of LPE’s concern about the political nature of economic analysis, the article argues that LPE often oversimplifies and misrepresents the diverse and nuanced field of law and economics by reducing it to a monolithic, neoliberal ideology. It further contends that LPE’s rhetorical urgency and sweeping condemnations risk sidelining rigorous engagement with empirical evidence and practical policymaking, particularly in areas like criminal justice, labor law, and environmental regulation. Ultimately, the article challenges LPE to move beyond critique toward accountable, evidence-based reform that measures real-world outcomes rather than relying on moral proclamations.