Chicago School of Law

The Chicago School of Law refers to a group of legal scholars and theories that emerged from the University of Chicago in the early to mid-20th century. It emphasizes the importance of economic principles in understanding legal issues, particularly in areas like antitrust law, contracts, and property rights. Proponents argue that legal rules should promote efficiency and economic growth. The Chicago School's approach often contrasts with other legal theories that prioritize moral or sociological considerations. Its influence extends beyond academia, impacting public policy and legal practices in the United States and beyond.