The Place of Ethics in Economic Analysis of Law

Economic analysis of law is a deeply analytical methodology, that its current approach that treats the efficiency as the end of economic analysis of law is morally objectionable. This Article focused on the consequentialist aspects of utilitarianism and welfare economics, especially on the lack of ethical constraints within it. It is proved that ethical values must be considered together with efficiency. From the point of view of morality, both positive economic analysis of law and normative economic analysis of law are objectionable. Thus, in economic analysis of law, it is necessary to accept that efficiency is an instrument for reaching the justice.