MARYLAND LAW REVIEW

In 1965, Guido Calabresi, then a young Yale Law School Professor, was on sabbatical in Italy writing a draft of what would become his book, The Costs of Accidents.' While in Europe, he was invited to the Max-Plank-Institut fftr Ausldndisches und Internationales Privatrecht in Hamburg to talk about his work with law and economics. Professor Calabresi delivered the lecture, and at its conclusion, the Direktor of the Institut, Professor Dr. Konrad Zweigert, said, "Very interesting. Very interesting indeed." He continued, "But you must understand. This is not law. And this is not legal scholarship." Whereupon the young American professor replied, "It may not be now. But it will be soon."2 On April 23 and 24, 2004, a distinguished group of judges and professors assembled at the University of Maryland School of Law to assess whether developments in legal scholarship and in the law have confirmed Calabresi's prediction. ' How has publication of The Costs