Question II Rationality:Individuals tend to take the action that best achieves their objectives Could add the Posner conjecture as one approach And figuring out the consequences of law as another ·But don't have to ."Legal Issues that it helps to understand"requires That it is a legal issue. ·“Why people rob banks'”is not a legal issue How law should prevent bank robberies is That economics tells something we didn't already know We already knew why people rob banks Because that's where the money is But we might not know the risk of giving life imprisonment for armed robbery Or the argument in favor of permitting concealed carry What matters is not if the victim usually defeats the mugger,but If it happens often enough to make mugging unprofitable Question II • Rationality: Individuals tend to take the action that best achieves their objectives • Could add the Posner conjecture as one approach • And figuring out the consequences of law as another • But don’t have to • “Legal Issues that it helps to understand” requires • That it is a legal issue. • “Why people rob banks” is not a legal issue • How law should prevent bank robberies is • That economics tells something we didn’t already know • We already knew why people rob banks • Because that’s where the money is • But we might not know the risk of giving life imprisonment for armed robbery • Or the argument in favor of permitting concealed carry • What matters is not if the victim usually defeats the mugger, but • If it happens often enough to make mugging unprofitable