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Transaction Cost Economics, Labor Law, And The Gig Economy, Seth C. Oranburg, Liya Palagashvili
Transaction Cost Economics, Labor Law, And The Gig Economy, Seth C. Oranburg, Liya Palagashvili
Law Faculty Publications
The rapid growth of technology not only is creating innovative goods and services, but it is also altering the workplace and the traditional understanding of relationships between employee and employer. This can be seen today with the rise of the gig economy and alternative work arrangements. Our paper seeks to explain how technology has reduced the transaction costs of contracting in the market. In particular, we identify the innovations that have led to reductions in triangulation, transfer, trust, and measurement costs. These costs are relevant for creating greater exchanges between consumers and labor suppliers and, hence, more work for contractors …
Legitimacy, Globally: The Incoherence Of Free Trade Practice, Global Economics And Their Governing Principles Of Political Economy, Michael H. Davis, Dana Neacsu
Legitimacy, Globally: The Incoherence Of Free Trade Practice, Global Economics And Their Governing Principles Of Political Economy, Michael H. Davis, Dana Neacsu
Law Faculty Publications
In this article, we observe the legalized character of the phenomenon popularly called "globalization." We first examine what it means to be a legalized phenomenon and observe that an important part of legalization is legitimation. In domestic legal regimes, legitimation is accomplished through the Rule of Law, which makes certain claims about the nature of the society of which the legal regime is a part. Simply stated, the Rule of Law claims that a legal system is legitimate if its rules are definite and predictable and are applied in a general, impartial, and non-retroactive manner. In the international trading system …