Source: EconLog
by Jon Murphy
“For any science to be broadly understood, it needs to be communicated in a helpful manner. Indeed, much of my research focuses on how experts communicate their opinions and on the institutions under which that communication is improved. In this post, I turn my eye toward another form of expert opinion, the law. With law, or any science, we must distinguish between a term of art and a colloquial term. A term of art is a term that has a specialized meaning within a particular field or profession. A colloquial term is a term whose use is not formal; it is used in ordinary conversation. The two uses can be similar but they often differ significantly.” (04/16/25)