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Full-Text Articles in Law

Public Finance And The Fortunes Of The Early American Lottery, Anisha S. Dasgupta Aug 2005

Public Finance And The Fortunes Of The Early American Lottery, Anisha S. Dasgupta

Student Scholarship Papers

This Article connects the rise and fall of the early American lottery with changes in the laws governing incorporation and public borrowing. Part II of the Article describes the legal obstacles that hindered private and public actors from carrying out internal improvements in order to illustrate why lotteries were an appealing funding device. Part III uses case study analysis of six eighteenth century lotteries to explore why lotteries were initiated and why they failed to achieve their promise as a funding device. Part IV makes the link between the uses of the lottery as an instrument of government and the ...


From St. Ives To Cyberspace: The Modern Distortion Of The Medieval 'Law Merchant', Stephen E. Sachs Mar 2005

From St. Ives To Cyberspace: The Modern Distortion Of The Medieval 'Law Merchant', Stephen E. Sachs

Student Scholarship Papers

Modern advocates of corporate self-regulation have drawn unlikely inspiration from the Middle Ages. On the traditional view of history, medieval merchants who wandered from fair to fair were not governed by domestic laws, but by their own lex mercatoria, or "law merchant." This law, which uniformly regulated commerce across Europe, was supposedly produced by an autonomous merchant class, interpreted in private courts, and enforced through private sanctions rather than state coercion. Contemporary writers have treated global corporations as descendants of these itinerant traders, urging them to replace conflicting national laws with a law of their own creation. The standard history ...


"The False Promise Of De-Regulation In Banking", Jonathan R. Macey Mar 2005

"The False Promise Of De-Regulation In Banking", Jonathan R. Macey

Faculty Scholarship Series

This Article presents new approach to the concept of "deregulation" in financial services and particularly banking. Generally regulatory policy is thought to involve more or less straightforward choices between regulation and deregulation. Those most concerned with market failure and equality of outcomes favoring regulation and those with faith in markets and concerns about efficient outcomes favoring deregulation.

This Article shows that government regulation, sometimes in heavy doses, is necessary in order for private markets to function effectively. Consequently, government has in important role to play in fostering markets. The policy choice between de-regulation, continued regulation, and even the initial decision ...