Open Access. Powered by Scholars. Published by Universities.®
- Publication
- Publication Type
Articles 1 - 5 of 5
Full-Text Articles in Law
Lending Discrimination: Economic Theory, Econometric Evidence, And The Community Reinvestment Act, Keith N. Hylton, Vincent D. Rougeau
Lending Discrimination: Economic Theory, Econometric Evidence, And The Community Reinvestment Act, Keith N. Hylton, Vincent D. Rougeau
Faculty Scholarship
Although it has been settled law for almost two decades, there has been a heightened interest in the Community Reinvestment Act (CRA) over the last several years. One factor driving this interest is the continuing economic decline of the inner cities and the consequent widening of the wealth gap between cities and surrounding suburbs in many areas of the country. A second factor is the consolidation of the banking industry, which has encouraged expansion-oriented banks to improve their CRA ratings to gain the approval of regulators. A recent effort to enhance enforcement of the statute, in part the result of …
Positivism And The Separation Of Law And Economics, Avery Wiener Katz
Positivism And The Separation Of Law And Economics, Avery Wiener Katz
Michigan Law Review
The goal of this essay is to explain this problem and to translate the meaning of positivism between legal and economic cultures, in order to show economists and lawyers why much of the debate about the jurisprudential merits of law and economics misses the mark. My thesis is that it is positivism, and the way economic culture treats the positive-normative distinction, that is responsible for much of the gulf between law and economics - but that it is also positivism that makes economics so appealing to so many lawyers and legal scholars. For a positivist approach can be useful to …
Takings From Freund To Fischel." Review Of Regulatory Taking: Law, Economics, And Politics, By W. A. Fischel, James E. Krier
Takings From Freund To Fischel." Review Of Regulatory Taking: Law, Economics, And Politics, By W. A. Fischel, James E. Krier
Reviews
The regulatory takings problem is easy to describe but difficult to resolve. The government enacts restrictions on land use that reduce the market value of the targeted parcels by a considerable amount. The restrictions are couched in terms of the police power, but actually they might amount to a taking that requires compensation, not because any of the land has been wrested away (it hasn't), but because much of the value has. Through the police power the government gets to govern for free, whereas with takings it's pay as you go. On what does the distinction-police power or taking-depend?
A Missing Markets Theory Of Tort Law, Keith N. Hylton
A Missing Markets Theory Of Tort Law, Keith N. Hylton
Faculty Scholarship
This Article provides a framework for reconciling the tension between tort doctrine and economic theory, and for addressing the general failure of economically oriented theories to come to grips with doctrine at a detailed level. My claim is that tort doctrine should be viewed as a response to the incompleteness of markets, or more generally the problem of missing markets. Because of market incompleteness, some of the benefits as well as costs associated with activities will be shifted or "externalized" to third parties. Tort doctrine reflects sensitivity to the externalization of benefits and costs. It can therefore be understood only …
The Economics Of Copyright, Robert G. Bone, Wendy J. Gordon
The Economics Of Copyright, Robert G. Bone, Wendy J. Gordon
Scholarship Chronologically
Copyright law protects works of creative expression. At its relatively uncontroversial core lie songs, plays, novels, paintings, and other works of aesthetic value. But copyright is not confined solely to aesthetic subject matter; in many countries, it extends to works of fact, such as biographies, maps, and telephone directories, and to works with practical value. For example, one of the most controversial issues in copyright law today is whether and how much copyright should protect computer programs.