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2006

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Articles 1 - 30 of 196

Full-Text Articles in Law

Taxes And Competitiveness, Michael S. Knoll Dec 2006

Taxes And Competitiveness, Michael S. Knoll

Faculty Scholarship at Penn Law

Around the world, the tax laws are shaped by concerns with competitiveness. This paper provides a general theory of how taxes impact competitiveness. As part of that theory, this paper also introduces the concept of tax-based competitiveness neutrality. A tax system is competitively neutral when taxes do not cause competitors to change their relative valuations of any investments. This paper then uses that theory to evaluate tax policy in two high profile and important areas. The paper begins by describing two models of competitiveness, called the conduit or new money model and the investor or old money model. The central ...


Patent Political Economy - Indian Lessons On Pharmaceutical Patent, Julien L. Chaisse, Samira Guennif Dec 2006

Patent Political Economy - Indian Lessons On Pharmaceutical Patent, Julien L. Chaisse, Samira Guennif

ExpressO

The Intellectual Property Rights (IPR) regime adopted by any country is essentially a tool that strives to ensure both the growth of the domestic pharmaceutical industry and people’s access to medicines. But, contrary to the very easily advanced theory, there is no paradox between the two. From this perspective, the Indian experience has shown that it is precisely the relaxation of its national IPR regime that promoted the growth of its domestic industry, thereby ensuring a better patient access to medicines. However, the globalisation process does not overlook any sector, which means that medicines too are submitted to the ...


Cases, Regulations, And Statutes, Robert P. Achenbach Jr Dec 2006

Cases, Regulations, And Statutes, Robert P. Achenbach Jr

Agricultural Law Digest

No abstract provided.


Index To Volume 17, Nos. 1-24, Agricultural Law Digest Dec 2006

Index To Volume 17, Nos. 1-24, Agricultural Law Digest

Agricultural Law Digest

No abstract provided.


Bankruptcy Court Interpretation Of Chapter 12 Tax Rules, Neil E. Harl, Joseph A. Peiffer Dec 2006

Bankruptcy Court Interpretation Of Chapter 12 Tax Rules, Neil E. Harl, Joseph A. Peiffer

Agricultural Law Digest

The first Bankruptcy Court interpretation1 of the provisions in the Bankruptcy Abuse Prevention and Consumer Protection Act of 20052 pertaining to the income tax treatment of asset dispositions in Chapter 12 bankruptcy cases3 has been published. The first case, involving a hog farmer from Northern Iowa who had encountered disease problems in the swine herd and a series of accidents (following a period of low hog prices), tested the income tax rules enacted in 2005 for Chapter 12 filers. Although the decision was favorable to the taxpayers on some issues, the opinion did not go as far ...


Holding Charities Accountable: Some Thoughts From An Ex-Regulator, Catharine P. Wells Dec 2006

Holding Charities Accountable: Some Thoughts From An Ex-Regulator, Catharine P. Wells

Boston College Law School Faculty Papers

This paper recounts a number of lessons learned in the course of serving as the Director of Public Charities for the Commonwealth of Massachusetts. It incorporates these lessons into a discussion of the proper analysis of charitable organizations. Should charities be analogized to for-profit firms or are they something that is essentially different? The paper argues that they lack many of the attributes of Coasian firms and that they should be considered as “consumption groups” that have different methods of accountability.


Welfare Polls: A Synthesis, Matthew D. Adler Dec 2006

Welfare Polls: A Synthesis, Matthew D. Adler

Faculty Scholarship at Penn Law

“Welfare polls” are survey instruments that seek to quantify the determinants of human well-being. Currently, three “welfare polling” formats are dominant: contingent-valuation surveys, QALY surveys, and happiness surveys. Each format has generated a large, specialized, scholarly literature, but no comprehensive discussion of welfare polling as a general enterprise exists. This Article seeks to fill that gap. Part I describes the trio of existing formats. Part II discusses the actual and potential uses of welfare polls in government decisionmaking. Part III analyzes in detail the obstacles that welfare polls must overcome to provide useful well-being information, and concludes that they can ...


Housing Affordability For Households Of Color In Massachusetts, Michael E. Stone Dec 2006

Housing Affordability For Households Of Color In Massachusetts, Michael E. Stone

Institute for Asian American Studies Publications

While housing is deeply significant for all of us, in our society it tends to pose particular challenges to many, if not most, people of color. For one thing, households of color continue to have considerably lower incomes, on average, than White-headed households. This means that households of color can, on average, afford less and therefore have fewer housing choices available, just for economic reasons alone. Yet we are not in a world where differential housing choices are determined only by ability to pay. Residential segregation by race persists and is not merely a consequence of unacceptable practices of the ...


Don’T Forget The Lawyers: Legal Human Capital And The Role Of Lawyers In Supporting The Rule Of Law, Gillian K. Hadfield Nov 2006

Don’T Forget The Lawyers: Legal Human Capital And The Role Of Lawyers In Supporting The Rule Of Law, Gillian K. Hadfield

Gillian K Hadfield

No abstract provided.


What Is "Like-Kind" For Real Estate?, Neil E. Harl Nov 2006

What Is "Like-Kind" For Real Estate?, Neil E. Harl

Agricultural Law Digest

Since the earliest days of like-kind exchanges,1 the line between real property and depreciable tangible personal property has been indistinct, at best.2 Interestingly, the dichotomy between real and personal property is a creature of the Treasury regulations,3 not of the statute. The statute merely refers to “property”4 other than for separate provisions for real property and personal property indicating that foreign property is not “like-kind” to property located in the United States.5 Actually, the relevant authority has identified three classes of property eligible for like-kind exchange treatment – (1) real property,6 (2) depreciable tangible personal ...


Cases, Regulations, And Statutes, Robert P. Achenbach Jr Nov 2006

Cases, Regulations, And Statutes, Robert P. Achenbach Jr

Agricultural Law Digest

Since the earliest days of like-kind exchanges,1 the line between real property and depreciable tangible personal property has been indistinct, at best.2 Interestingly, the dichotomy between real and personal property is a creature of the Treasury regulations,3 not of the statute. The statute merely refers to “property”4 other than for separate provisions for real property and personal property indicating that foreign property is not “like-kind” to property located in the United States.5 Actually, the relevant authority has identified three classes of property eligible for like-kind exchange treatment – (1) real property,6 (2) depreciable tangible personal ...


The De-Gentrification Of New Markets Tax Credits, Roger M. Groves Nov 2006

The De-Gentrification Of New Markets Tax Credits, Roger M. Groves

ExpressO

This article provides the most comprehensive analysis to date of the New Markets Tax Credits program established by Congress. The purpose of the NMTCs is to use tax credits as incentives for investors to provide equity funds into low income areas. The article reveals that over $2 billion of federal tax subsidies that have been allocated to gentrified projects for the wealthy, rather than the intended beneficiaries – low income residents in the urban core – as Congress intended. The article proposes amendments to the statute and regulations to close unintended loopholes.


Tradeoffs In Formulating A Consistent National Policy On Adoption, Mary Eschelbach Hansen, Daniel Pollack Nov 2006

Tradeoffs In Formulating A Consistent National Policy On Adoption, Mary Eschelbach Hansen, Daniel Pollack

ExpressO

Just as the courts must consider the tradeoff between the best interest of the child and parental rights in involuntary termination of parental rights, policy on international adoption must consider the tradeoffs between the best interest of the child and the long-term interests of the nation. We argue that countries that suspend international adoptions do not maximize social welfare. A consistent national policy to maximize the well-being of the children and society at large would be to devote resources today to the oversight of international adoption in accord with child protections under the Hague Convention, while at the same time ...


Contractarianism, Contractualism, And The Law Of Corporate Insolvency, Riz Mokal Nov 2006

Contractarianism, Contractualism, And The Law Of Corporate Insolvency, Riz Mokal

ExpressO

What is the appropriate way of theorising about corporate bankruptcy law? That lies, argues this paper, in rejecting Pareto and Kaldor-Hicks efficiency in favour of a particular conception of transaction cost efficiency, and in rejecting the ‘contractarian’ Creditors’ Bargain Model in favour of the ‘contractualist’ Authentic Consent Model. The paper vindicates these arguments with an analysis of the automatic stay which characterises the collective liquidation regime, of the pari passu principle often said to be at the heart of this regime, and of the liability imposed in some jurisdictions on the managers of terminally distressed companies for failing to take ...


Cases, Regulations, And Statutes, Robert P. Achenbach Jr Nov 2006

Cases, Regulations, And Statutes, Robert P. Achenbach Jr

Agricultural Law Digest

No abstract provided.


Health And Accident Insurance For "2%" S Corporation Shareholders, Neil E. Harl Nov 2006

Health And Accident Insurance For "2%" S Corporation Shareholders, Neil E. Harl

Agricultural Law Digest

Recent developments1 have called into question the availability of the “above-the-line” deduction for federal income tax purposes for “2 percent” shareholders of S corporations under certain circumstances.2 The problem is particularly acute for sole shareholders of S corporations.3


Privatization And The Law And Economics Of Political Advocacy, Alexander Volokh Nov 2006

Privatization And The Law And Economics Of Political Advocacy, Alexander Volokh

ExpressO

A common argument against privatization is that private providers, motivated by self-interest, will advocate changes in substantive policy. In this Article, I evaluate this argument, using, as a case study, the argument against prison privatization based on the possibility that the private prison industry will distort the criminal law by advocating incarceration.

This “political influence” argument applies at least as well to public provision: Government agencies, too, lobby for changes in substantive law. In the prison industry, for instance, it is unclear whether private firms advocate incarceration to any significant extent, but public guard unions are known to do so ...


One For All: The Problem Of Uniformity Cost In Intellectual Property Law, Michael W. Carroll Nov 2006

One For All: The Problem Of Uniformity Cost In Intellectual Property Law, Michael W. Carroll

Michael W. Carroll

Intellectual property law protects the owner of each patented invention or copyrighted work of authorship with a largely uniform set of exclusive rights. Historically, this uniformity may have been justified in light of the relative homogeneity of market conditions applicable to protected subject matter, such as books or mechanical inventions. Technological progress since the founding has led to considerable growth in the range of inventions and expressive works to which patent and copyright law apply, respectively. In the modern context, it is clear that innovators’ needs for intellectual property protection vary substantially across industries and among types of innovation. Applying ...


Opposing The Lottery In The U.S.: The Forces Behind Individual Attitudes Towards Legalization In 1975, Andrew J. Economopoulos Nov 2006

Opposing The Lottery In The U.S.: The Forces Behind Individual Attitudes Towards Legalization In 1975, Andrew J. Economopoulos

Business and Economics Faculty Publications

In the 1970s, opposition to the lottery started to fracture in the US. This study examines causes of the fracture and historical factors that contributed to changes in individual attitudes towards legalization. The opponents at the time held to traditional arguments against legalized lotteries—negative economic effects, costs to others and increased crime. Unlike in the past, however, there was weak religious institutional opposition to lotteries. Individuals with a strong commitment to their religious affiliation were more resistant to pro-lottery arguments, but in most cases could be convinced to support the lottery. The pre-World War II generation remained steadfast against ...


Szerzõdési Szabadság És Paternalizmus: Adalékok A Szerzõdési Jog Közgazdasági Elemzéséhez [Freedom Of Contract And Paternalism: A Contribution To The Economics Of Contract Law] , Peter Cserne Nov 2006

Szerzõdési Szabadság És Paternalizmus: Adalékok A Szerzõdési Jog Közgazdasági Elemzéséhez [Freedom Of Contract And Paternalism: A Contribution To The Economics Of Contract Law] , Peter Cserne

Péter Cserne

No abstract provided.


Hit And Miss: Leverage, Sacrifice, And Refusal To Deal In The Supreme Court Decision In Trinko, Nicholas Economides Oct 2006

Hit And Miss: Leverage, Sacrifice, And Refusal To Deal In The Supreme Court Decision In Trinko, Nicholas Economides

ExpressO

Under the rules of the Telecommunications Act of 1996, incumbent local exchange carriers, including Verizon, were obligated to lease parts of their local telecommunications network to any firm at “cost plus a reasonable profit” prices which could combine them at will, add retailing services and sell local telecommunication service as a rival to the incumbent. AT&T, an entrant in local telecommunications, leased parts of Verizon’s network. Trinko, a local telecommunications services customer of AT&T, sued Verizon alleging various anti-competitive actions of Verizon against AT&T, including that Verizon raised the costs of AT&T, its downstream retail ...


New Proposed Regulations On Private Annuities, Neil E. Harl Oct 2006

New Proposed Regulations On Private Annuities, Neil E. Harl

Agricultural Law Digest

On October 18, 2006, the Department of the Treasury issued new proposed regulations on private annuities1 which will affect most private annuities entered into after April 17, 2007 and some entered into after October 18, 2006.2 The proposed regulations will render the private annuity less attractive as an estate and business planning tool.3 Basically, the new rules specify that, in a private annuity setting, the transferor and transferee of property are left as if the transferor had sold the property for cash and used the proceeds to purchase an annuity contract.4 The established rule of deferring ...


Cases, Regulations, And Statutes, Robert P. Achenbach Jr Oct 2006

Cases, Regulations, And Statutes, Robert P. Achenbach Jr

Agricultural Law Digest

No abstract provided.


A Neo-Chicago Perspective On The Law Of Product Tying: Exposing The Last Sanctuary Of The Harvard School, Alan J. Devlin Oct 2006

A Neo-Chicago Perspective On The Law Of Product Tying: Exposing The Last Sanctuary Of The Harvard School, Alan J. Devlin

ExpressO

No abstract provided.


A Complete Property Right Amendment, John H. Ryskamp Oct 2006

A Complete Property Right Amendment, John H. Ryskamp

ExpressO

The trend of the eminent domain reform and "Kelo plus" initiatives is toward a comprehensive Constitutional property right incorporating the elements of level of review, nature of government action, and extent of compensation. This article contains a draft amendment which reflects these concerns.


Compulsory Labor In A National Emergency: Public Service Or Involuntary Servitude? The Case Of Crippled Ports, Michael H. Leroy Oct 2006

Compulsory Labor In A National Emergency: Public Service Or Involuntary Servitude? The Case Of Crippled Ports, Michael H. Leroy

ExpressO

The 13th Amendment ban on involuntary servitude has new relevance as the U.S. grapples with national emergencies such as catastrophic hurricanes, flu pandemics, and terrorism. This Article considers work refusal and coerced work performance in life-threatening employment contexts. Overwhelmed by fear, hundreds of police officers and health care workers abandoned their jobs during Hurricane Katrina. Postal clerks worked against their will without masks in facilities with anthrax. A report by Congress worries that avian flu will cause sick and frightened medical personnel to stay away from work, thus jeopardizing a coherent response to a crisis.

How far can the ...


The Conditional Effects Of Ideology And Institutional Structure On Judicial Voting In State Supreme Courts, Jeff L. Yates, Paul Brace, Brent Boyea Oct 2006

The Conditional Effects Of Ideology And Institutional Structure On Judicial Voting In State Supreme Courts, Jeff L. Yates, Paul Brace, Brent Boyea

ExpressO

Two enormously influential perspectives on courts offer fundamentally different predictions about court outcomes and the effects of judge ideology on those outcomes. Well-known to political scientists studying courts, the ideological voting (IV) literature argues that judge ideology is a strong predictor of court outcomes and that those outcomes should be proximate to the policy preferences of courts. Less known to political scientists but highly influential, the law and economics perspective (LE) focuses on settlement behavior of litigants who try to minimize costs and thus estimate likely outcomes in court, and settle simpler cases pre-trial. In this case selection process litigants ...


Through The Looking Glass: Runaway Productions And "Hollywood Economics", Adrian H. Mcdonald Oct 2006

Through The Looking Glass: Runaway Productions And "Hollywood Economics", Adrian H. Mcdonald

ExpressO

This paper uses the issue of runaway production as a looking glass into the complex world of Hollywood economics and politics. As such, a broad overview of Hollywood's business practices, history, and technology are discussed so the reader can understand how runaway production (a major issue itself) is one piece of the Hollywood puzzle. Specifically, this paper attempts to study runaway productions from the Law and Economics approach described in Judge Richard Posner's text on the subject. Events in 2006 illustrate the continuing importance of runaway productions and CEIDR's August 2006 report is discussed in this paper ...


Price Discrimination With Contract Terms: The Lost Volume Problem, Barry E. Adler, Alan Schwartz Oct 2006

Price Discrimination With Contract Terms: The Lost Volume Problem, Barry E. Adler, Alan Schwartz

ExpressO

In a common commercial pattern, the seller of a standard product contracts with one buyer and then sells to another at the contract price after the initial buyer breaches. Sellers argue, and courts largely agree, that the seller could have served the contract buyer as well as the later buyer; hence, the seller is entitled to retain a down payment to the extent of, or sue to recover, the profit – price less cost – that it would have realized on the initial sale had that sale been completed. Some courts and many scholars disagree, arguing that resale of the contract product ...


The Latest On Reporting Csp Payments, Neil E. Harl Oct 2006

The Latest On Reporting Csp Payments, Neil E. Harl

Agricultural Law Digest

On September 25, 2006, the Internal Revenue Service published Rev. Rul. 2006-461 which states that – “. . . the Conservation Security Program is substantially similar to the type of program described in section 126(a)(1) through (8) of the Code within the meaning of section 126(a)(9). As a result, all or a portion of cost-share payments received under the CSP is eligible for exclusion from gross income to the extent permitted by section 126. The language of the ruling echoed the language appearing in the Federal Register2 in June of 2005 in which the Secretary of Agriculture stated ...