The New Legal Realism movement has proliferated through the American legal academy but with very diverse strands. In this article, we examine empiricism (reflected in the empirical legal studies movement) and experimentalism (reflected in the new governance movement) as two complementary strands of New Legal Realism. We assess their virtues and potential vices if empiricism and experimentalism are not combined to inform each other. There is a tension between empiricism and experimentalism, as one looks to the past seeking to understand and explain phenomena, and the other looks to the future to reconfigure regulatory schemes. In practice, one tends to take “hard law” as its object, and the other recommends “soft law” because of its revisabi...