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To What Extent Does Wealth Maximization Benefit Farmed Animals? A Law And Economics Approach To A Ban On Gestation Crates In Pig Production, Geoffrey C. Evans

Animal Law Review

A law and economics approach in the current animals-as-property realm could be the most efficient way to gain protections for the billions of farmed animals that need them now. The wealth maximization theory allows for this because it recognizes human valuation of nonhuman interests. However, evidence shows that a market failure exists because of the discord between public will and animal industry practices. Where human valuation of nonhuman interests is underrepresented in the market and, therefore, a market fix is needed through legislation, animal advocates should evaluate the legislation’s economic impacts. In the case of a ban on gestation crates, …