The Cost of Criminal Justice and Efficiency

The most obvious goals in law and economics are respectively justice and efficiency. Since second half of 19th century, under the effects of some economists’ works as of Ronald Coase and Guido Calabresi and Gary Stanley Becker economics has had more and more influence on law. One of the most important effects of economics on law is inclusion of some efficient institutions into law and undermining those institutions which are not efficient. In this article, having reviewed “efficiency” and “justice” concepts and described their relation, I will address the most important institutions in laws that have been formed under the effects of economic thought.