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Reforming The United States' Economic Model After The Failure Of Unfettered Financial Capitalism, Richard B. Freeman
Reforming The United States' Economic Model After The Failure Of Unfettered Financial Capitalism, Richard B. Freeman
Chicago-Kent Law Review
This Article is based on the 2009 Kenneth M. Piper Lecture at the Chicago-Kent College of Law. The 2008–2009 financial meltdown and ensuing economic developments have shown three things about modern capitalism: First, that unfettered financial markets remain the Achilles heel of capitalism with the capability of destroying economic stability and bringing misery to all. Second, that high-powered incentives paid to "talent" in finance are a fundamental cause of the excessive risk-taking, chicanery, and financial fraud that contributes to instability. Without a new compensation system that rewards banking and finance for contributing to sustainable economic progress rather than for economic …
Anthropology, History And The "More Economic Approach" In European Competition Law - A Review Essay, David J. Gerber
Anthropology, History And The "More Economic Approach" In European Competition Law - A Review Essay, David J. Gerber
All Faculty Scholarship
In several works over the last decade, Wolfgang Fikentscher has reminded us that there are ways of viewing competition law that need not begin and end with economics—its concepts, its language, and its science-based normative stance. Discussions of competition law in the United States and increasingly in Europe generally dismiss or marginalize views of competition law that are not circumscribed by economic science. In the works reviewed here, Fikentscher takes issue with the so-called “more economic approach” to law, particularly, competition law. As he has said on other occasions, he favors “a less economic approach” to competition law. Many in …