Efficiency is a key goal of legal rules from "summary" of Economic Analysis of Law by Richard A. Posner
Efficiency is a key goal of legal rules. Legal rules are intended to promote efficiency in the allocation of resources, both by facilitating the exchange of goods and services and by providing incentives for individuals to make efficient choices. Efficiency in this context refers to the maximization of social welfare, which is achieved when resources are allocated in a way that generates the greatest overall benefit for society. Efficiency can be thought of as a measure of the success of a legal rule in achieving its objectives. Legal rules that promote efficiency are those that minimize transaction costs, encourage productive behavior, and deter socially harmful actions. By contrast, legal rules that are inefficient may result in waste, inefficiency, and subopt...
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