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Law needs economics to understand its behavioral consequences, and economics needs law to understand the underpinnings of markets. 

(con. the absence of secure property and reliable contracts paralyzes the economies of some poor nations; improving the effectiveness of law in poor countries is important to their economic development.)

From economists, lawyers can learn quantitative reasoning for making theories and doing empirical research. From lawyers, economists can learn to persuade ordinary people -- an art that lawyers continually practice and refine. Lawyers can describe facts and give them names with moral resonance, whereas economists are obtuse to language too often. If economists will listen to what the law has to teach them, they will find their models being drawn closer to what people really care about.