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Dear Ronny,

In the course of preparing the Cooley lectures for the University of Michigan I had occasion to read your exchange with Dick Posner which clustered around the Cornell-Chicago conference of this April and May and which, I take it, will be the basis of both your and his contributions to the Hofstra Law Review symposium. Despite the perhaps unnecessarily provocative language in your first article, language which I fear will lead some to misunderstand the piece to mean that efficiency in the production of wealth is irrelevant to a "just" society, I found myself substantially in agreement with it. If I may oversimplify your fuller and more complex discussion, it seems to me that you make two points that are hard to challenge. (Indeed, I think I may have made them myself from time to time, though certainly not as systematically.

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