Law Commons^™

The Sherman Act And The Balance Of Power, David K. Millon

David K. Millon

None available.

New Game Plan Or Business As Usual? A Critique Of The Team Production Model Of Corporate Law, David K. Millon

David K. Millon

None available.

Law Of Trade In Human Rights: A Legal Analysis Of The Intersection Of The General Trade Agreement Of Tariff’S Article Xx(B) And Labor Rights Of Children., Paul Cook

Paul Cook

China's child labor is on the rise with its 8% annual economic growth. Children are valued for their labor for several reasons: their cheaper price, their ignorance of their legal rights, their dexterous hands, and good eye sight. The use of juvenile labor is most prevalent in the following industries: toy production, textiles, construction, food production, and light mechanical work. Underage laborers are particularly vulnerable to job related hazards resulting in injury and death, and this is because they tend to be less aware of workplace hazards than do adult workers. Children begin work as early as twelve years old …

A Paradox In Employment: The Contradiction That Exists Between Immigration Laws And Outsourcing Practices, And Its Impact On The Legal And Illegal Minority Working Classes, Mary O'Sullivan

Mary T O'Sullivan

The drastic distinctions between the United States’ immigration and outsourcing policies have created a system where American companies are able to send unlimited jobs overseas, yet, have very restricted ability to bring workers to domestic offices and factories. Restrictive immigration policies seek to protect American jobs, while liberal outsourcing regulations permit, and encourage, employers to send jobs outside of the United States. As a result, the United States’ outsourcing policy sabotages the purpose of American immigration laws. The uncertainty of the contradiction between immigration and outsourcing policy may be the cause of unusually high unemployment numbers, particularly in the minority …

Contingent Lives: The Economic Insecurity Of Contingent Workers, Mary O'Connell

Mary E. O'Connell

No abstract provided.

Corporate Legitimacy, Economic Theory, And Legal Doctrine, Richard M. Buxbaum

Richard M. Buxbaum

No abstract provided.

When The Tenth Justice Doesn’T Bark: The Unspoken Freedom Of Health Holding In Nfib V. Sebelius, Abigail Moncrieff

Abigail R. Moncrieff

There was an argument that Solicitor General Donald B. Verrilli could have made—but didn’t—in defending Obamacare’s individual mandate against constitutional attack. That argument would have highlighted the role of comprehensive health insurance in steering individuals’ health care savings and consumption decisions. Because consumer-directed health care, which reaches its apex when individuals self insure, suffers from several known market failures and because comprehensive health insurance policies play an unusually aggressive regulatory role in attempting to correct those failures, the individual mandate could be seen as an attempt to eliminate inefficiencies in the health care market that arise from individual decisions to …

Hydropower: It's A Small World After All, Gina Warren

Gina Warren

Global warming is here. As exhibited by the recent droughts, heat waves, severe storms and floods, climate change is no longer a question for the future, but a problem for the present. Of the many ways to help combat climate change, this article discusses the use of the most abundant renewable energy source on the plant – water. While large-scale hydropower (think Hoover Dam) is unlikely to see increased development due to its negative impact on the environment, fish, and wildlife, small-scale hydropower (think a highly technologically-advanced water mill) is environmentally-friendly and would produce clean, renewable energy to benefit local …

Risk Based Student Loans, Michael Simkovic

Michael N Simkovic

Credit markets serve a vital function in capitalist economies: evaluating the riskiness of a range of possible investments and channeling resources toward those investments that investors believe are most likely to prove successful. This process is known as the “risk-based pricing” of credit. Ideally, risk-based pricing should lead to lower cost of capital for lower risk investment choices with larger rewards, and therefore more investment in such promising activities. Conversely, risk-based pricing should lead to higher costs of capital, and therefore less investment, in high-risk activities with relatively low rewards. If creditors are well informed and analytic, and borrowers respond …

Adr’S Place In Foreclosure: Remedying The Flaws Of A Securitized Housing Market, Lydia Nussbaum

Lydia R. Nussbaum

Millions of Americans lost their homes during the foreclosure crisis, an unprecedented disaster still plaguing local and national economies. A primary factor contributing to the crisis has been the failure of conventional foreclosure procedures to account for the new realities of securitization and the secondary mortgage market, which transformed the traditional borrower-lender relationship. To compensate for the shortcomings of conventional foreclosure procedures and stem the tide of residential foreclosure, state and local governments turned to ADR processes for a solution. Some foreclosure ADR programs, however, have greater potential to avoid unnecessary foreclosures than others. This article comprehensively examines the key …

Adr's Place In Foreclosure: Remedying The Flaws Of A Securitized Housing Market, Lydia Nussbaum

Lydia R. Nussbaum

Millions of Americans lost their homes during the foreclosure crisis, an unprecedented disaster still plaguing local and national economies. A primary factor contributing to the crisis has been the failure of conventional foreclosure procedures to account for the new realities of securitization and the secondary mortgage market, which transformed the traditional borrower-lender relationship. To compensate for the shortcomings of conventional foreclosure procedures and stem the tide of residential foreclosure, state and local governments turned to ADR processes for a solution. Some foreclosure ADR programs, however, have greater potential to avoid unnecessary foreclosures than others. This article comprehensively examines the key …

An Invisible Union For An Invisible Labor Market: College Football And The Union Substitution Effect, Michael H. Leroy

Michael H LeRoy

Should college football players have collective bargaining rights? The NCAA’s contractual relationship with student athletes provides grants-in-aid while strictly limiting their earnings. This model is premised on the belief that players are amateurs. But this view is contradicted by the heavy commercialization of NCAA football, including a rich championship playoff. Schools reap billions of dollars from TV and licensing agreements, a championship, numerous bowls, and ticket sales, but football players rarely receive enough aid to pay their full cost of attending school. The fact that TV deals minimize competition between the NCAA and NFL, so that each purveyor of football …

Major Violations For The Ncaa: How The Ncaa Can Apply The Dodd-Frank Act To Reform Its Own Corporate Goverance Scheme, Jason Rudderman

Jason Rudderman

This paper applies the Dodd-Frank Act, and specifically its corporate governance laws, to the National Collegiate Athletic Associate (NCAA). The NCAA has experienced rapid, largely uncontrolled growth over the past decade that has led to an influx of corporate governance and regulatory problems within its member institutions. As with financial institutions, the influx of money itself is not the inherent problem. Money in college athletics is good. When large schools succeed, they help support smaller schools in their conference through revenue sharing plans. It is the lack of control and governance mechanisms regulating the influx of money that poses the …

Incorporating Emergy Synthesis Into Environmental Law: An Integration Of Ecology, Economics, And Law, Mary Jane Angelo, Mark T. Brown

Mary Jane Angelo

Emergy synthesis, flrst developed by Dr. Howard T. Odum in the 1970s, and further expanded and refined by other scholars over the past thirty years, has the potential to transform environmental decisionmaking by providing a methodology that can integrate ecology, economics, and law. Virtually all areas of environmental law are concerned in some way with both the ecological and the economic impacts of environmental decision making. Unfortunately, existing environmental law statutes tend to incorporate ecological and economic considerations in a simplistic, piecemeal, and awkward fashion. Emergy synthesis incorporates both ecological and economic considerations through a sophisticated scientiic methodology. Emergy synthesis …

Rlt: A Preliminary Examination Of Religious Legal Theory As A Movement, Samuel J. Levine

Samuel J. Levine

No abstract provided.

Emerging Economies After The Global Financial Crisis: The Case Of Brazil, Enrique Carrasco, Sean Williams

Enrique R Carrasco

Abstract Emerging economies have rebounded relatively quickly from the 2008 global financial crisis and, despite various challenges they face resulting from the European sovereign debt crisis, they face bright economic futures. While many observers have focused on China and India, Brazil is an emerging economy that has enjoyed increasing visibility. This article examines Brazil’s evolution into an emerging economy, or, given the market-based nature of the term, an emerging market economy (EME). After outlining the broadly accepted definition of an EME, we examine Brazil’s path towards becoming an EME, from the “pre-emergent” Brazil to its current status as an EME. …

Walking The Tightrope: Balancing Conservation, Local Growth, And The Uncertainty Of Rural Development, Michael A. Powell

Michael A Powell

Economic development is a complex issue, and placing it in a rural context complicates it further, primarily due to issues with local governance and the difficulty in defining the term “rural.” The result is that economic development policies often ignore development in rural areas, and development in those areas becomes uncoordinated and unproductive. One exception is the Growth Management Act (GMA) enacted by the State of Washington, which established a rural development regime that decentralized planning but retained regional and statewide oversight. This paper uses a lawsuit filed against one of the GMA’s regional boards as a case study to …

Janus Capital Group V. First Derivative Traders: A Call To Rewind Securities Law Jurisprudence To Protect Investors – A Practitioner’S Guide And Policy Perspective, Max Schatzow

Max Schatzow

As of 1989, the federal courts were inundated with more Rule 10b-5 litigation than all of the other provision of the federal securities law combined. The Securities Enforcement Commission’s (“SEC”) Rule 10b-5 (“Rule 10b-5,” “the rule,” or “10b-5”) makes it unlawful for certain persons to make material misrepresentations. On June 12, 2011, The Supreme Court in Janus Capital held that those certain persons were those who have the “ultimate authority” over a statement. The Supreme Court in Janus left many litigators and regulators in the securities field grasping for answers. A progeny of cases have been tried under Rule 10b-5 …

Implementing Dodd-Frank: A Review Of The Cftc‟S Rulemaking Process: Testimony, Michael Greenberger

Michael Greenberger

The Relationship of Unregulated OTC Derivatives to the Meltdown. It is now accepted wisdom that it was the non-transparent, poorly capitalized, and almost wholly unregulated over-the-counter (“OTC”) derivatives market that lit the fuse that exploded the highly vulnerable worldwide economy in the fall of 2008. Because tens of trillions of dollars of these financial products were pegged to the economic performance of an overheated and highly inflated housing market, the sudden collapse of that market triggered under-capitalized or non-capitalized OTC derivative guarantees of the subprime housing investments. Moreover, the many undercapitalized insurers of that collapsing market had other multi-trillion dollar …

Dormancy Versus Innovation: A Next Generation Dormant Commerce Clause, Sam Kalen

Sam Kalen Mr.

The vitality of the dormant commerce clause is becoming increasingly suspect. Modern academic commentary questions the Supreme Court’s rationale for this negative aspect of the Commerce Clause. Yet the emphasis of the scholarship overlooks how our society has changed dramatically since the Court developed its present analysis, and it is the analysis perhaps more than the rationale that is bankrupt. The analysis the Court employs under the clause is cabining innovate state and local programs, such as responses to climate change. The article, therefore, traces the dynamic nature of the dormant commerce clause, how its modern formulation ignores societal changes …

The Big Banks: Background, Deregulation, Financial Innovation And Too Big To Fail, Charles W. Murdock

Charles W. Murdock

Summary: The Big Banks: Background, Deregulation, Financial Innovation and Too Big to Fail

The U.S. economy is still reeling from the financial crisis that exploded in the fall of 2008. This article asserts that the big banks were major culprits in causing the crisis, by funding the non-bank lenders that created the toxic mortgages which the big banks securitized and sold to unwary investors. Paradoxically, banks which were then too big to fail are even larger today.

The article briefly reviews the history of banking from the Founding Fathers to the deregulatory mindset that has been present since 1980. It …

Predicting The Frequency Of Large Public Company Bankruptcies, Patrick Liu

Patrick Liu

From 1980 to 2010, the number of large corporate bankruptcies in the U.S. spanned the gamut from five in 1981 to ninety-seven in 2001. In 2009, there were ninety-one large corporate bankruptcies. Past researchers have used firm-specific characteristics to predict the likelihood of bankruptcy for a given firm. However, limited research exists regarding which factors can explain nationwide fluctuations in the number of large corporate bankruptcies. Because macroeconomic variables pose systematic risk for all firms, macroeconomic variables’ yearly variations could shed light on bankruptcy filings’ yearly variations. Moreover, utilizing lagged variables, using the prior year’s change in a macroeconomic variable, …

The Evolution Of The Supreme Court’S Rule 10b-5 Jurisprudence: Protecting Fraud At The Expense Of Investors, Charles W. Murdock

Charles W. Murdock

Summary: The Evolution of the Supreme Court’s Rule 10b-5 Jurisprudence:

Protecting Fraud at the Expense of Investors

This article traces the evolution of Supreme Court jurisprudence over the past forty years through the prism of Rule 10b-5. It uses four “trilogies” to develop this evolution. At the start of the 1970s, the liberal trend characterized by the Warren Court still prevailed. An implied private cause of action was still in favor and litigators were viewed as private attorneys general, enforcing the securities laws to further the policy of protecting investors.

The expansion of Rule 10b-5 was slowed and more judicial …

Informing Consent: Voter Ignorance, Political Parties, And Election Law, Christopher Elmendorf, David Schleicher

Christopher S. Elmendorf

This paper examines what law can do to enable an electorate comprised of mostly ignorant voters to obtain meaningful representation and to hold elected officials accountable for the government’s performance. Drawing on a half century of research by political scientists, we argue that political parties are both the key to good elections and a common cause of electoral dysfunction. Party labels can help rational, low-information voters by providing them with credible, low-cost, and easily understood signals of candidates’ ideology and policy preferences. But in federal systems, any number of forces may result in party cues that are poorly calibrated to …

Down-Sizing The Little Guy Myth In Legal Definitions, Mirit Eyal-Cohen

Mirit Eyal-Cohen

What is “small” in the eyes of the law? In fact, there is not one standard definition. Current lax legal definitions of firm’s size are inconsistent and overinclusive. They result in data distortion that reinforces favoritism toward small entities as studies on the contribution of small business to the economy are greatly dependent on those studies’ delineation of the term “small.” Therefore, I argue that the current focus on size in legal definitions is a waste of time and money. In this time of huge deficits and rise in economic inequality, a lot of money is being spent based on …

The Law And Economics Of Peripheral Labor: A Poultry Industry Case Study, Charlotte S. Alexander

Charlotte S. Alexander

Drawing on data and anecdotal accounts from a wide variety of sources, this Article investigates the law and economics of peripheral labor, so called because low wage, low skill workers on the periphery are excluded from the promotion ladders, job security, and steadily increasing pay available to supervisory and managerial workers in the core. Using the U.S. poultry industry as a case study, this Article describes the terms and conditions of peripheral poultry work: de-skilled jobs, low wages, lack of job security, and negligible prospects for promotion. Worker bargaining power is also highly constrained, as workers have little ability to …

Formulating A Soda Tax Fit For Consumption: A Pragmatic Approach To Implementing The Failed New York Soda Tax., Joseph Desantis

Joseph Angelo DeSantis

Previous attempts to levy a one-cent per-ounce tax on sodas, or sugar-sweetened beverages (SSB), have failed because they are modeled after a sin tax. This article proposes a different approach. An SSB tax should have two limited aims: (1) avoid implicitly demonizing soda consumption and (2) offset the cost of treating diseases attributed to SSB consumption. To these ends, this article explores using the basic principles of insurance to offset costs associated with risky behavior, without implicitly condemning that behavior. It further explores the link between SSB consumption and direct health costs to estimate a proper offset. Finally, this article …

The Clash Between Certainty, Predictability And The Intent Of The Parties: The Ninth Circuit’S Fight For A Middle Ground, Norayr Zurabyan

Norayr Zurabyan

No abstract provided.

Hamp: Doomed From The Start, Marc Gans

Marc Gans

This paper will critique the effectiveness of the government's Home Affordable Mortgage Program (HAMP) and its companion programs, and dissect what went wrong. This will include an analysis of strategic defaults, securitization, legal liability, proposed solutions and conclude with what I think should have been done from the start.

Note: Guiding The Modern Lawyer Through A Global Economy: An Analysis On Outsourcing And The Aba's 2012 Proposed Changes To The Model Rules, Patrick Poole

Patrick Poole

Over the last few decades, the dramatic changes that have occurred in the global economy have similarly altered the landscape for outsourced work both domestically and internationally. One study estimates that as many as 3.3 million white-collar jobs could be shipped abroad by 2015. This growing trend has also substantially affected the unique nature of the legal field. For the past year and a half, the American Bar Association (ABA) Ethics 20/20 Commission has been considering changes to the Model Rules of Professional Conduct as they relate to domestic and international outsourcing. The revision process has included soliciting input from …