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Lutgert College of Business in the News

Law and Economics scholar Prof. Henry Manne Speaks to LCOB class

On December 3, LCOB's Department of Real Estate, Economics and Finance hosted Prof. Henry Manne for a guest lecture in Prof. Dean Stansel's course on Public Sector Economics.

Prof. Manne's talk was entitled "The Political Economy of Modern Universities." He spoke about the history of universities and how the for-profit nature of the very first universities provided better incentives for meeting the needs of students than does the non-profit nature of our modern universities. Prof. Manne is Dean Emeritus and University Professor Emeritus at the George Mason University School of Law, where he was Dean from 1986-1996 and University Professor from 1986 to 1999. He received a B.A., cum laude, in Economics in 1950 at Vanderbilt University, his J.D. at the University of Chicago Law School in 1952, and his L.L.M. (1953) and S.J.D. at Yale Law School in 1966. Prior to his time at George Mason, Manne held teaching positions at St. Louis University, the University of Wisconsin, George Washington University, the University of Rochester, University of Miami, and Emory University. He is an Honorary Life Member of the American Law and Economics Association, which honored him as one of the four founders of the field of Law and Economics. Prof. Manne's development of the theory of a "market for corporate control" is credited with opening the entire field of corporate law to economic analysis, and his 1966 book, "Insider Trading and the Stock Market," began, and still heavily influences, the vast literature on that subject (on which Manne spoke at this year's Thomas Howard lecture). He is a frequent contributor to the Wall Street Journal. The Liberty Fund, of Indianapolis, IN, recently published "The Collected Works of Henry G. Manne" in three volumes. He is now retired and lives in Naples.

From left: Faculty members Drs. Shelton Weeeks, Nikolai Wenzel and Carrie Kerekes; Prof. Henry Manne; Dr. Dean Stansel, LCOB Dean Hudson Rogers.

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