New Article: Masters of The Code

New Article: Robert Gordon, Masters of The Code, The Journal of Things We Like (Lots), Sept. 28, 2020.

In 1984, Ronald Gilson made a path-breaking contribution to theorizing the social function of the work-product of business lawyers, or at least of some business lawyers, with his Value Creation by Business Lawyers: Legal Skills and Asset Pricing, 94 Yale L.J. 239 (1984). He characterized the lawyers’ role in helping to structure business deals as that of “transaction cost engineers” who help to reduce the frictions of deal-making, e.g., by helping the parties to anticipate and provide for common risks and information asymmetries.

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