Law Commons^™

An Examination Of The Death Penalty, Alexandra N. Kremer

The Downtown Review

The death penalty, or capital punishment, is the use of execution through hanging, beheading, drowning, gas chambers, lethal injection, and electrocution among others in response to a crime. This has spurred much debate on whether it should be used for reasons such as ethics, revenge, economics, effectiveness as a deterrent, and constitutionality. Capital punishment has roots that date back to the 18^th century B.C., but, as of 2016, has been abolished in law or practice by more than two thirds of the world’s countries and several states within the United States. Here, the arguments for and against the death …

Whatever Did Happen To The Antitrust Movement?, Herbert J. Hovenkamp

All Faculty Scholarship

Antitrust in the United States today is caught between its pursuit of technical rules designed to define and implement defensible economic goals, and increasing calls for a new antitrust “movement.” The goals of this movement have been variously defined as combating industrial concentration, limiting the economic or political power of large firms, correcting the maldistribution of wealth, control of high profits, increasing wages, or protection of small business. High output and low consumer prices are typically unmentioned.

In the 1960s the great policy historian Richard Hofstadter lamented the passing of the antitrust “movement” as one of the “faded passions of …

Anticompetitive Manipulation Of Rems: A New Exception To Antitrust Refusal-To-Deal Doctrine, Tyler A. Garrett

William & Mary Law Review

No abstract provided.

Revising The Vertical Merger Guidelines (Ftc Hearings), Steven C. Salop

Georgetown Law Faculty Publications and Other Works

This slide deck was the author’s presentation at the FTC Hearings on Vertical Mergers (November 1, 2018). The deck sets out a summary of the author’s economic analysis and proposed revisions to the U.S. Vertical Merger Guidelines.

Investment Spending And Gdp, Kevin Zaldivar

Celebration of Learning

This study's mission is to give a modern day analysis to investment spending and to provide insight to the degree of impact certain investments have on our GDP. This should interest local,state,and federal policy makers as well as anyone who practices their civic duty.

A 2016 Copa America Bump For Major League Soccer? Strengthening The Case For Legal Action Arising From The Corrupted 2022 World Cup Bid, Jeff Todd, R. Todd Jewell

William & Mary Business Law Review

Governmental and private investigations have generated evidence of corruption in the bidding process to host the 2022 FIFA World Cup, which went to Qatar rather than the United States. One economic study has shown an increase in professional soccer attendance in European countries that host the World Cup and the European Championships. Accordingly, Major League Soccer and its investor-operators could pursue tort and unfair competition claims to argue that denial of a 2022 World Cup USA will result in lowered attendance, and thus lost profits and diminished business value. Key differences in American and European soccer leagues and sports markets …

Be Careful What You Wish For? Reducing Inequality In The Twenty-First Century, Reuven S. Avi-Yonah, Orli K. Avi-Yonah

Michigan Law Review

A review of Walter Scheidel, The Great Leveler: Violence and the History of Inequality from the Stone Age to the Twenty-First Century.

An Identity Theory Of The Short- And Long-Term Investor Debate, Claire A. Hill

Seattle University Law Review

Economics famously treats market actors as homogeneous. People are homo economicus, rational self-interested maximizers of their own utility. So far, so good, notwithstanding supposed behavioral “deviations” from rationality (more on those later). That people can view their own utility very differently from one another is recognized in theory, but not so much in practice. Also not sufficiently recognized is the extent to which people’s views of their own utility reflect their theories of who they are and how the world works, and that they hold such views and theories not just atomistically, but also collectively—that is, socially.

Contract, Promise, And The Right Of Redress, Andrew S. Gold

William & Mary Business Law Review

This Essay reviews Nathan Oman’s recent book, The Dignity of Commerce. The book is compelling, and it makes an important and original contribution to contract theory—a contribution that insightfully shows how markets matter. Yet, in the course of developing a market-centered justification for contract law, The Dignity of Commerce also downplays the significance of consent and promissory morality. In both cases, the book’s argument is problematic, but this Essay will address questions of promissory morality. Oman contends that promise-based accounts struggle with contract law’s bilateralism and with its private standing doctrine. Yet, promissory morality is a very good fit …

A Pragmatist’S View Of Promissory Law With A Focus On Consent And Reliance, Robert A. Hillman

William & Mary Business Law Review

This Article discusses Professor Nate Oman’s excellent new book, The Dignity of Commerce, which makes an impressive case for how markets can produce “desirable” outcomes for society. In addition to a comprehensive account of what he calls “virtues” of markets, such as their tendency to produce cooperation, trust, and wealth, the book is full of useful and persuasive supporting information and discussions.

Oman is not only a fan of markets, but he asserts that markets are the “center” of contract theory, and provide its normative foundation. Elaborating, Oman concludes that “contract law exists primarily to support markets” and that …

Does Contract Law Need Morality?, Kimberly D. Krawiec, Wenhao Liu

William & Mary Business Law Review

In The Dignity of Commerce, Nathan Oman sets out an ambitious market theory of contract, which he argues is a superior normative foundation for contract law than either the moralist or economic justifications that currently dominate contract theory. In doing so, he sets out a robust defense of commerce and the marketplace as contributing to human flourishing that is a refreshing and welcome contribution in an era of market alarmism. But the market theory ultimately falls short as either a normative or prescriptive theory of contract. The extent to which law, public policy, and theory should account for values …

Martin Luther King Jr. On Economy, Ecology, And Civilization: Toward A Mlk Jr-Inspired Ecotheology, Theodore Walker

Perkins Faculty Research and Special Events

This MLK Jr-inspired ecotheology [eco-theology] connects “economics,” “ecology,” and “ecological civilization” to the theological ethics of Rev. Dr. Martin Luther King Jr.

Though we often remember King primarily as a domestic civil rights leader; attention to King’s book—Where Do We Go from Here: Chaos or Community? (1967) reveals that he advanced a global ethics. King called for replacing recourse to war with nonviolent resistance to evil, and for abolishing poverty throughout “the world house.” He prescribed that we “civilize ourselves by the total, direct and immediate abolition of poverty.” King was concerned with civilizing “the world house” (house …

If You (Pay To) Build It, They Will Come: Rethinking Publicly-Financed Professional Sports Stadiums After The Atlanta Braves Deal With Cobb County, Steven D. Zavodnick Jr.

Georgia Law Review

“If you build it, they will come.” In the classic film Field of Dreams, Iowa farmer Ray Kinsella heard a voice from the heavens repeat this phrase while working his cornfield. On belief alone, Ray plowed over his cornfield and built a baseball diamond—risking financial ruin and bringing his sanity into question. When all was almost lost, Ray’s faith was rewarded. The ghosts of past baseball greats emerged from the cornfield to play on Ray’s field, and he was able to “have a catch” with the ghost of his long-dead ballplayer father.

Cobb County, Georgia (Cobb) pledged millions of dollars …

Old Issues New Perspectives, Ronald Griffin

Faculty Books and Book Contributions

The book commences with Ronald C. Griffin‟s essay Ghost Town: The Death of Marriage, the Birth of Cohabitation, and the Emergence of the Single Woman. In his essay he revisits the history of marriage, the economics of marriage, the rise and demise of childhood, the emergence of new couplings and the social traumas that come with them.

Unlocking Antitrust Enforcement, Jonathan Baker

Articles in Law Reviews & Other Academic Journals

No abstract provided.

Intellectual Property And The Prisoner’S Dilemma: A Game Theory Justification Of Copyrights, Patents, And Trade Secrets, Adam D. Moore

Fordham Intellectual Property, Media and Entertainment Law Journal

In this article, I will offer an argument for the protection of intellectual property based on individual self-interest and prudence. In large part, this argument will parallel considerations that arise in a prisoner’s dilemma game. In brief, allowing content to be unprotected in terms of free access leads to a sub-optimal outcome where creation and innovation are suppressed. Adopting the institutions of copyright, patent, and trade secret is one way to avoid these sub-optimal results.

A Fracking Mess: Just Compensation For Regulatory Takings Of Oil And Gas Property Rights, Kevin J. Lynch

Sturm College of Law: Faculty Scholarship

As the Trump administration tries to roll back federal regulations on the oil and gas industry, constituents depend on state and local governments for protection from the worst impacts of industrial-scale fracking. Yet as the debate about proper regulation of the oil and gas industry continues, the specter of potential takings liability looms over the public discourse. Such liability is premised on the idea that government regulation of fracking might constitute a taking of private property that requires payment of just compensation — that is, the amount of money that should be paid to owners if indeed there is a …

The Economics Of American Higher Education In The New Gilded Age, Paul Campos

Publications

No abstract provided.

The Comparative Institutions Approach To Wildlife Governance, Dean Lueck

Texas A&M Law Review

This Article develops a comparative institutions approach to wildlife governance by examining the property rights to the habitat and the stocks of wild populations. The approach is based on the transaction cost and property rights approach and lies primarily in the traditions of Coase, Barzel, Ostrom, and Williamson. The approach recognizes the often-extreme costs of delineation and enforcement of property rights to wild populations and their habitats; thus, all systems are notably imperfect compared to the typical neoclassical economics approach. These costs arise because wildlife habitat and wildlife populations are part of the land which has many attributes and uses—most …

Spite: Legal And Social Implications, Jeffrey L. Harrison

UF Law Faculty Publications

Spite is not a simple concept. The same actions may be motivated by a desire to harm others as a source of the actor’s satisfaction. They may also be a reaction to a personal sense of injustice. Finally, spite-like actions are consistent with simply righting a wrong. This Article makes the case that spite, in its worst from, is comparable to theft. It is a taking of someone’s sense of well-being without consent. It also claims that the purchase of positional goods is ultimately spite driven. It canvasses tort law, contracts, tax law, trademark, and criminal law in an effort …

Stock Market Manipulation And Its Regulation, Merritt B. Fox, Lawrence R. Glosten, Gabriel Rauterberg

Articles

More than eighty years after federal law first addressed stock market manipulation, the federal courts remain fractured by disagreement and confusion concerning manipulation law's most foundational issues. There remains, for example, a sharp split among the federal circuits concerning manipulation law's central question: Whether trading activity alone can ever be considered illegal manipulation under federal law? Academics have been similarly confused-economists and legal scholars cannot agree on whether manipulation is even possible in principle, let alone on how to properly address it in practice.

Economic Individualism And Preference Formation, Andrzej Rapaczynski

Faculty Scholarship

This note examines some issues involved in an attempt to go beyond the assumption, long-made by most economists, that people’s preferences are simply to be treated as “given” and that the principle of consumer sovereignty entails a refusal to consider some (or some people’s) revealed preferences as more authoritative than others. The most important break with that assumption has been the development of behavioral economics, which shows that people may not always know what they really want, and that economists have to develop a more critical approach, distinguishing people’s true preferences from those that are merely apparent. While this approach, …

Are Prices Just?, Gregory M. Stein

Scholarly Works

No abstract provided.

Pride & Property: An Interdisciplinary Analysis Of Their Symbiotic Relationship, Donald J. Kochan

Donald J. Kochan