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Law and Economics

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Selected Works

2015

Law

Articles 1 - 3 of 3

Full-Text Articles in Law

Tortious Interference And The Law Of Contract: The Case For Specific Performance Revisited, Deepa Varadarajan Jun 2015

Tortious Interference And The Law Of Contract: The Case For Specific Performance Revisited, Deepa Varadarajan

Deepa Varadarajan

What is the role of contract law in remedying breach? The question of the appropriate legal remedy, specific performance versus money damages, has provided adequate fodder for three decades of debate in the law and economics discourse. In the legal discipline at large, the topic has spurred centuries of debate, as illustrated by Oliver Wendell Holmes's famous line: “The only universal consequence of a legally binding promise is, that the law makes the promisor pay damages if the promised event does not come to pass.” Holmes's approach to contractual remedy would evolve during the latter half of the twentieth century …


Public Actors In Private Markets: Toward A Developmental Finance State, Robert Hockett, Saule Omarova Jun 2015

Public Actors In Private Markets: Toward A Developmental Finance State, Robert Hockett, Saule Omarova

Saule T. Omarova

The recent financial crisis brought into sharp relief fundamental questions about the social function and purpose of the financial system, including its relation to the “real” economy. This Article argues that, to answer these questions, we must recapture a distinctively American view of the proper relations among state, financial market, and development. This programmatic vision – captured in what we call a “developmental finance state” – is based on three key propositions: (1) that economic and social development is not an “end-state” but a continuing national policy priority; (2) that the modalities of finance are the most potent means of …


Apps, Artificial Intelligence, And Androids: Beyond Schumpeter’S “Creative Destruction” To “Destructive Destruction” David Barnhizer, David Barnhizer Jan 2015

Apps, Artificial Intelligence, And Androids: Beyond Schumpeter’S “Creative Destruction” To “Destructive Destruction” David Barnhizer, David Barnhizer

David Barnhizer

The analysis offered here is not a Neo-Luddite rage against “the machine”. As with the oft-stated reproach about paranoia, there sometimes really are situations in which people are “out to get you”. In our current situation the threat is not from people but from the convergence of a set of technological innovations that are and will increasingly have an enormous impact on the nature of work, economic and social inequality and the existence of the middle classes that are so vital to the durability of Western democracy. The fact is that developed nations’ economies such as found in Western Europe …