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Full-Text Articles in Law
Non-Recourse Mortages – A Fresh Start, Ron Harris, Asher Meir
Non-Recourse Mortages – A Fresh Start, Ron Harris, Asher Meir
Ron Harris
In about a quarter of US states, all residential mortgages are essentially non-recourse, meaning that in case of default, the lender can only repossess the house but cannot collect on the private assets and future income of the borrower. This American innovation is now beginning to attract extensive interest abroad, but ironically in the US itself is getting a bad name. The law has been blamed for exacerbating the financial crisis, while stricken homeowners who take advantage of it have been scolded by lenders and even by the Secretary of the Treasury. We propose a fresh and more balanced look …
Government And The Economy, 1688 - 1850, Ron Harris
The Uses Of History In Law And Economics, Ron Harris
The Uses Of History In Law And Economics, Ron Harris
Ron Harris
During the last quarter of the twentieth century, the humanities and social sciences have turned toward history, something that culminated in the 1990s, and this phenomenon was evident in law as well. However, until recently, law and economics, the most influential post-World War II jurisprudential movement, was historical in its methodology and research agenda. The first objective of this article is to call attention to this neglected characteristic of law and economics and to explain its causes by analyzing its intellectual origins, its methodological causes, and the nature of its interaction with other sub-fields of law and of economics. The …
Political Economy, Interest Groups, Legal Institutions And The Repeal Of The Bubble Act In 1825, Ron Harris
Political Economy, Interest Groups, Legal Institutions And The Repeal Of The Bubble Act In 1825, Ron Harris
Ron Harris
This article argues that the repeal of the Bubble Act not only ushers in a crucial period in the development of the British capital markets and of the legal homework of business organization, but is also illuminating for those interested in the more general economic, political, legal, and even social aspects of the era. It argues, further, that neither the Diceyan paradigm nor a more elaborate public benefit paradigm can alone satisfactorily explain the repeal. Only by integrating the working of interest groups and of judicial culture and institutions can a more viable explanation be provided for the repeal of …