Law Commons^™

Altruism And Innovation In Health Care, Anupam Bapu Jena, Stéphane Mechoulan, Tomas J. Philipson

Stéphane Mechoulan

The joint presence of technological change and consumption externalities is central to health care industries around the world, because medical innovation drives the expansion of the health care sector and altruism seems to motivate many public subsidies. Although traditional economic analysis has proposed well-known remedies to deal with consumption externalities and inefficient technological change in isolation, it lacks clear principles for addressing them jointly. We argue that standard remedies to each of the two problems are inadequate. Focusing on U.S. health care, we provide illustrative calculations of the dynamic inefficiency in the level of research and development (R&D) spending when …

Fire With Fire: Heterodox Law & Economics, Karl T. Muth

Karl T Muth

This Article first examines, from a historical perspective, the evolution of the law-and-economics movement. It then critically examines the application of economic principles the legal analysis, paying particular attention to how the political process has shaped the law-and-economics scholarship. Finally, it concludes that the principles of law-and-economics, while fundamentally sound, are often misapplied, too narrowly interpreted, and aggregated into a single viewpoint that is politically convenient rather than academically honest.

When Users Are Authors: Authorship In The Age Of Digital Media, Alina Ng

Alina Ng

This Article explores what authorship and creative production means in the digital age. Notions of the author as the creator of the work provided a point of reference for recognizing ownership rights in literary and artistic works in conventional copyright jurisprudence. The role of the author, as the creator and producer of a work, has been seen as distinct and separate from that of the publisher and user. Copyright laws and customary norms protect the author’s rights in his creation to provide the incentive to create and allow him to appropriate the social value generated by his creativity as recognition …

Organizations And Economics, Richard Adelstein

Richard Adelstein

A contribution to a symposium on a paper by Richard Posner.

Debt As Venture Capital, Darian M. Ibrahim

Darian M Ibrahim

Venture debt, or loans to rapid-growth start-ups, is a puzzle. How are start-ups with no track records, positive cash flows, tangible collateral, or personal guarantees from entrepreneurs able to attract billions of dollars in loans each year? And why do start-ups take on debt rather than rely exclusively on equity investments from angel investors and venture capitalists (VCs), as well-known capital structure theories from corporate finance would seem to predict in this context? Using hand-collected interview data and theoretical contributions from finance, economics, and law, this Article solves the puzzle of venture debt by revealing that a start-up’s VC backing …

¿En Qué Momento Se Jodió El Sur? Crecimiento Económico, Derechos De Propiedad Y Regulación Del Crédito En Las Colonias Británicas Y Españolas En América, Enrique Pasquel

Enrique Pasquel

Las instituciones legales de las colonias británicas y españolas pueden ayudar a explicar los distintos niveles de desarrollo económico en esas regiones. Este artículo se centra en el marco legal de los derechos de propiedad y el mercado del crédito en la época colonial, analizando las políticas de asignación de tierras, el establecimiento de registros, los programas de titulación, las cargas sobre la tierra y las restricciones al crédito.

Regulation By Markets And Higher Education, Benedict Sheehy

Benedict Sheehy

Markets have a number of uses. One increasingly important use by politicians is as a means of regulating the supply and distribution of goods and services formerly supplied and distributed by governments on non-market bases. The use of markets as a regulator of higher education is not novel. However, the increased reliance on markets as a regulator of higher education is an on-going experiment with certain predictable failures. This article explores the uses of the market in the supply and distribution of higher education and weighs it against the stated policy objectives, with particular attention to the application proposed in …

De Que Forma A Economia Auxilia O Profissional E O Estudioso Do Direito?, Bruno Meyerhof Salama

Bruno Meyerhof Salama

The Politics And Psychology Of Gasoline Taxes: An Empirical Study, Shi-Ling Hsu

Shi-Ling Hsu

No abstract provided.