Richard Posner, a Reagan appointee, wrote the original decision upholding Indiana’s ID law. Posner summarized his views on law and economics in his 1973 book The Economic Analysis of Law. View Richard Posner’s profile on LinkedIn, the world's largest professional community. Richard has 4 jobs listed on their profile. He encountered Chicago School economists Aaron Director and George Stigler while a professor at Stanford. One point impressed me the most: People will hold more cash with low interest rates because the opportunity cost of holding cash falls almost to zeroAnd then in a footnote, Garrison adds:The General Theory as a form of Kettle Pleading!Wage rates (1) will not fall because of unions or wage rigidities inherent in the market process, or (2) will fall but without making matters any better and possibly making matters worse because of the accompanying fall in the price level, or (3) should not be allowed to fall because of considerations mentioned in (2).Keynes appears to be adopting a strategy usually confined to the legal profession: “My client didn’t borrow your urn; it was in perfect condition when he returned it: and it was already broken when you lent it to him. Price stickiness and price flexibility can’t both be the problem.In a conversation on your blog months ago you gave me a link to a very good Fed article on the topic. It’s in the article I linked to above. I find that really smart people (and Posner is really smart) have a bad habit of assuming they can briefly glance at macro and explain to those of us who have been studying it for decades about all the foolish errors we are making.COLLECTION: HISTORY OF ECONOMIC THOUGHTMises and Hayek showed that people demand cash because of uncertainty.This is a nice summary of why I don’t see how one can reconcile Paul Krugman’s concept of a ‘paradox of flexibility’ (which as I understand it is basically what (2) is) with the rest of Keynesianism. He describes those needs as unrelated to practical legal activity but instead as social and political.Posner rejects the concept of animal rights. I followed a recent email discussion about Judge Richard Posner’s 2009 article in the New Republic in which he tried to revive John Maynard Keynes’s contributions to macroeconomic understanding. See also id. Jeff Hummel, as per usual, had some cogent comments: I read this and found it somewhat interesting. 2020-4-15 tions, Richard Craswell, Geoffrey Miller, Richard Posner, Roberta Romano, and participants in faculty shops at the Stanford Business School and the Harvard, Yale, and University of Chicago Law Schools. See the complete profile on LinkedIn and discover Richard’s connections and jobs at similar companies. He has written more than 2500 published judicial opinions and continues to teach at the University of Chicago Law School.