Law and Economics Commons^™

"Americas Agreements" - An Interim Stage In Building The Free Trade Area Of The Americas, Frank J. Garcia

Frank J. Garcia

No abstract provided.

Introduction -- The Trade Linkage Phenomenon: Pointing The Way To The Trade Law And Global Social Policy Of The 21st Century, Frank J. Garcia

Frank J. Garcia

No abstract provided.

The Misuse Of Tax Incentives To Align Management-Shareholder Interests, James R. Repetti

James R. Repetti

The U.S. tax system contains many provisions which are intended to align management of large publicly traded companies more closely to stockholders. This article shows that many of the tax provisions that have been adopted are of questionable effectiveness because they fail to address the complexities of stockholder-management relations in attempting to motivate management to act in the best interests of stockholders. The article proposes that rather than Congress attempting to identify the best way that it can use the tax system to motivate management, Congress should eliminate tax provisions which subsidize management's inefficiencies in order to encourage stockholders, themselves, …

An Industry-Specific Vat In Michigan - Objective Valuation In The Retail Gasoline Trade, Richard Thompson Ainsworth

Faculty Scholarship

New York adopted an industry-specific value added tax (VAT) to solve problems with virtual intermediaries (room remarketers) under its hotel accommodations tax. The New York VAT resembles the VAT used in the European Union (EU). It is a credit-invoice VAT that subjectively values supplies.

Michigan has also adopted an industry-specific credit-invoice VAT, however the targeted industry is the retail gasoline trade. The valuation method is objective, rather than subjective. In valuing supplies objectively rather than subjectively, the Michigan VAT resembles the exception provisions that are found in most VATs around the globe. Objective valuations are used in VATs when dealing …

Coal Law From The Old World: A Perspective On Land Use And Environmental Regulation In The Coal Industries Of The United States, Great Britain, And West Germany, Zygmunt J.B. Plater

Zygmunt J.B. Plater

America’s reentry into the Coal Age has been one of the major consequences of the Mideast oil-producing nations’ discovery of their collective marketing power, and in this new emphasis on coal the United States is not alone. Like the United States, many industrialized nations with domestic coal reserves had allowed their coal industries to languish under the influence of low-priced, petroleum based energy economy and are now hastening to strengthen their coal production. Different nations approach the regulation of their resurgent coal industries in varying ways, however, and these differences can be instructive to American observers, particularly as they relate …

Endangered Species Act Lessons Over 30 Years, And The Legacy Of The Snail Darter, A Small Fish In A Pork Barrel, Zygmunt J.B. Plater

Zygmunt J.B. Plater

Why is it – amidst the flood of environmental statutes that poured into the law books and national consciousness in the remarkable decade of the 1970s – that the Endangered Species Act of 1973 (ESA) stands out as quite uniquely different? This Essay briefly surveys the ESA’s differentness, its special political context, the citizen suit of great notoriety that fired up the ESA’s political hotseat back in 1975, and what has changed and what has not in the years since that first eco-legal outburst.

Through The Looking Glass Of Eminent Domain: Exploring The "Arbitrary And Capricious" Test And Substantive Rationality Review Of Governmental Decisions, Zygmunt J.B. Plater

Zygmunt J.B. Plater

The day-to-day realities of different systems of government can be discerned in the way they handle, in theory and practice, clashes between the individual and the collective will. The structure of contemporary American democracy is no exception. It is comprised of a variegated assortment of judicial formulae for balancing the interests of the individual and the state, most of these formulae tracing back with differing degrees of directness to textual bases in the first nine amendments to the federal Constitution or their state constitutional equivalents. One of these basic structural balancings, encountered early on by every student of American law …

In The Wake Of The Snail Darter: An Environmental Law Paradigm And Its Consequences, Zygmunt J.B. Plater

Zygmunt J.B. Plater

Everything is connected to everything else: so goes the first law of ecology. This interconnectedness is reflected in environmental law as well, extending beyond natural science and particular resource conflicts to link environmental law intimately with the politics, philosophies, economics, and societal values that form its much larger context -- an ecology of human and natural systems. The Tellico Dam litigation reflected this interconnectedness. On its face, it was a simple environmental confrontation; it will be remembered as the "extreme" case of the little endangered fish, the snail darter, that almost stopped a Tennessee Valley Authority (TVA) dam. But if …

Law, Media, & Environmental Policy: A Fundamental Linkage In Sustainable Democratic Governance, Zygmunt J.B. Plater

Zygmunt J.B. Plater

The functional linkages between law and media have long been signficant in shaping American democratic governance. Over the past thirty-five years, environmental analysis has similarly become essential to shaping international and domestic governmental policy. Environmentalism—focusing as it does on realistic interconnected accounting of the full potential negative consequences as well as benefits of proposed actions, policies, and programs, over the long term as well as the short term, with careful consideration of all realistic alternatives— provides a legal perspective important for societal sustainability. Because environmental values and norms are often in tension with established industrial interests that resist public interest …

Facing A Time Of Counter-Revolution: The Kepone Incident And A Review Of First Principles, Zygmunt J.B. Plater

Zygmunt J.B. Plater

The Kepone contamination episode of 1966-75 was a milestone that focused an entire nation’s attention on environmental hazards and our need to do better in recognizing and avoiding them. We have learned a great deal from that unfortunate story. The evolution of American environmental law since the Kepone debacle has repeatedly used the incident as a touchstone in identifying environmental pollution’s causes, effects, and potential solutions. This essay offers four propositions, about two things that have changed, and two things that have not, in the years since Kepone, taking account of where we are, and seeking some points of consensus.

The Three Economies: An Essay In Honor Of Joseph Sax, Zygmunt J.B. Plater

Zygmunt J.B. Plater

How does one evaluate the important public values and impacts of things that do not have a market price and then integrate them into the fabric of our system of social governance? That question lies within most or all of Joseph Sax's work over the years. The first part of this article represents an attempt to distill some of Joseph Sax's intellectual dimensions, beyond those already chronicled in the comments of other contributors to this symposium, with some linked themes and observations drawn from Sax beyond his writings. The second part, instigated by several of Sax's articles, presents "The Three …

The Genius Of Roman Law From A Law And Economics Perspective, Juan Javier Del Granado

San Diego International Law Journal

The Article is organized as follows: The first part of this Article will introduce Roman private law, and sketch out the law and economics methodology to be applied to the Roman classical system. The second part of this Article will discuss the Roman private law of property, obligations, as well as commerce and finance. The third part will discuss the interaction of private law and private morality in the construction of Roman social order. The fourth part of this Article will discuss private procedural aspects of the Roman legal system. The fifth and final part of this Article will discuss …

Geographical Indications Under International Intellectual Property Law: An Indonesian Perspective, Mariana Molnar Gabor Warokka

Indonesian Journal of International Law

There are currently two systems for the registration of GI and Appellations of Origin. First, the Lisbon Agreement for the Protection of Appellations of Origin and their International Registration of 1958. Second, the Madrid Agreement Concerning the International Registration of Marks and the Madrid Protocol of 1989 for countries that protect GI under the trade mark regime. Indonesia has provided for GI protection under its Trade Mark Law No. 15 of 2001, and the appertaining Government Regulation No. 51 of 2007 concerning Geographical Indication. Several cases have been reported of Indonesian GI potential products, such as Kopi Toraja and Kopi …

Impact Of The Implementation Of Broder Crossing Area Agreement Between Indonesian And The Philippines At The Border Of Miangas Island Of North Celebes, Wulanmas A.P.G Frederik

Indonesian Journal of International Law

The existence of Border Crossing Area Agreement (BCA) in 1975 regulating the border agreement between Miangas Island of North Celebes and the Philippines created positive and negative impacts on border people in Miangas Island. The legal aspects, BCA is a legal regulation regulating the border crossing and commerce in that area; economic aspects; BCA has not accommodated border people’s interests maximally yet and it has a limiting impression rather than facilitating people’s interests, thus, illegal trades occur at the border of Miangas Island; social aspects, BCA is hard to implement in this area because it has limited the tradition practicing …

Rethinking The U.S. Approach To Material Adverse Change Clauses In Merger Agreements, Adam B. Chertok

University of Miami International and Comparative Law Review

No abstract provided.

The Abuse Of Guaranteed Pending Trial In The Chinese Criminal Process: A Violation Of International Human Rights Law, Li Enshen

Indonesian Journal of International Law

Guaranteed pending trial (Qubao Houshen) is one of the coercive measures used by the Chinese authorities to release suspects on bail in the criminal process. Unlike the western general practices, this instrument is not characterized as a legal right of suspects, but an effective means to circumvent the procedural requirements of investigation and prosecution in the laws. Further, the abuse of guaranteed pending trial is in fragrant violation of minimal international standards of human rights protection in the criminal justice system. The article first examines the procedural and practical deficiencies of this measure in the Chinese context. It then argues …

The Right To A Fair Trial And Combatting Terrorism: The Case Of Indonesia, Amira Paripurna

Indonesian Journal of International Law

After the 9/11 attack, the US government called upon global war on terror (GWOT). Then terrorism has been considered as a threat of global security. It is, therefore, has led both national and international concern under US hegemony. Furthermore, it has affected the proliferation of many national counter-terrorism laws. The terrorist attacks have threatened Indonesia over years. Under the act No.15/2003 jo No.1/Prp/2002 the Indonesian government has successfully conducted prosecutions to the terrorism perpetrators. However, it is identified that there are such violations regarding to international human rights rules and standards. The concern in handling terrorism demands a balance concern …

Free The Market. Peter J. Boettke. Spanish Translation, Mario Šilar

Mario Šilar

No abstract provided.

The Economic Theory Of Derivative Actions, Diego G. Pardow

Diego G. Pardow

This paper offers a model to formalize the economic theory of derivative actions developed during the last 30 years. From this perspective, the derivative action presents two interrelated problems. The first is how to solve the collective action problem that prevents that minority shareholders file a suit. The second is how to control the risk of collusive settlements between the defendant manager and the plaintiff’s attorney. This model identifies the fundamental tradeoffs that are implicit in these problems, as well as an optimum that could be used as normative benchmark. In brief, it argues that if the goal of derivative …

Through The Looking Glass: Understanding Social Science Norms For Analyzing International Investment Law, Susan Franck, Calvin Garbin, Jenna Perkins

Articles in Law Reviews & Other Academic Journals

When social science methods are being employed in a new context — such as the assessment of international investment law — there is value in exploring the underlying assumptions and normative baselines of the enterprise. This article and response address critiques about the methodology of an article in the Harvard International Law Journal by: (1) describing the value of social science in international investment law; (2) replicating the research using new methodologies to conduct more than 20 new tests that were still unable to ascertain the existence of a reliable relationship between development status and outcomes on the basis of …

Taking Interdependence And Production More Seriously: Toward Mutual Rationality And A More Useful Law And Economics, Kenneth M. Casebeer, Charles J. Whalen

University of Miami Law Review

No abstract provided.

Land Use For Economic Development In Tough Financial Times, John R. Nolon

Elisabeth Haub School of Law Faculty Publications

The recession hit cities hard. Basic municipal staffs and services are being cut, debt is being restructured, capital projects delayed, and other cost cutting measures reported. The Congressional Budget Office reports that by November of last year there were 241,000 fewer municipal employees than there were three years earlier when the recession began. In its most recent report from city finance officers, the National League of Cities states that city spending cutbacks since 2009 are the largest since the survey was first taken, over twenty-five years ago. Despite this serious trend, municipalities have not defaulted in debt payment and there …

Disparate Impact Realism, Amy L. Wax

All Faculty Scholarship

In Ricci v. DeStefano, 129 S. Ct. 2658 (2009), the Supreme Court recently reaffirmed the doctrine, first articulated by the Court in Griggs v. Duke Power Company, 401 U.S. 424 (1971), that employers can be held liable under Title VII of the 1964 Civil Rights Act for neutral personnel practices with a disparate impact on minority workers. The Griggs Court further held that employers can escape liability by showing that their staffing practices are job related or consistent with business necessity.

In the interim since Griggs, social scientists have generated evidence undermining two key assumptions behind that decision and its …

Principle Of Responsibilities And Sanctions In Pollutions Of The Marine Environment By Offshore Minning, Dina Sunyowati

Indonesian Journal of International Law

In a period of 5 (five) years of pollution of the marine environment caused by exploration and exploitation on the continental shelf and the area (the seabed) is increasing. Like the marine pollution in the Timor Sea which transnational pollution, because it involves three countries, namely Australia, Timor Leste, and Indonesia. Settlement efforts to revolve the impact caused by too have done well by the Australian Government nor by the Indonesian Government. Pollution of the marine environment also occurs in blasting offshore mining that pollute the Gulf of Mexico. As mentioned in the 1982 UNCLOS, Article 208 that one of …

The Way Forward: Moving From The Post-Bubble, Post-Bust Economy To Renewed Growth And Competitiveness, Daniel Alpert, Robert C. Hockett, Nouriel Roubini

Cornell Law Faculty Publications

We argue that the U.S. economy is presently mired in a particularly tenacious, Fisher-style debt-deflation rooted in long term secular trends in the domestic and global economies. Global productive capacity has steadily outpaced global absorptive capacity for several decades now, and the latter will not catch up with the former for a good many years to come -- if ever. In order to avert long-term Japanese-style stagnation at home and quite possibly slowdown and slump worldwide, the U.S. will have both (a) to eliminate private sector debt-overhang from 'both sides' of the same, and (b) to act in concert with …

Indonesia: Problem Encountered In Some Unresolved Boundaries And The Outermost Island Issues, Etty R. Agoes.

Indonesian Journal of International Law

Within the framework of national integrity the ocean possesses two key aspects that is, of security and prosperity. The demarcation of the outer limits of national mari- time territory and jurisdiction including delimitation of boundaries with neighboring countries will provide a legal basis for a number of marine activities such as defense, fisheries, navigation, seabed and subsoil exploration and exploitation, marine tourism and others. Boundary issues for Indonesia, whether on land, at sea even in the air, have always been a matter of national priority. At present, Indonesia still have some unresolved boundary delimitation with its neighboring countries. The completion …

Once More Unto The Breach: Some Thoughts On The Future Of The Eez, Guy Des Rosiers

Indonesian Journal of International Law

By public international law standards, the Exclusive Economic Zone (EEZ) maintains a relative newcomer, the product of State practice following the end of the Second World War and multilateral negotiations culminating with the entry into force, in November 1994, of the 1982 United Nations Convention of the Law of the Sea, In defining the EEZ, the Convention has created a sui generis legal regime over vast areas that were previously part of the high seas. Neither Grotian nor Seldenian in spirit, the EEZ regime forgoes the absolute language of territory and sovereignty in favor of discrete sets of rights and …

From Bali To Copenhagen: Indonesia's Position And Role In International Negotiation To Establish A Post-Kyoto Protocol Agreement On Climate Change, Syamsul Hadi

Indonesian Journal of International Law

In the light of upcoming end of the Kyoto Protocol in 2012, international society is in the urgent need to arrange a new international agreement to cope more with the issue that has been threatening both today and the future generation. In this context, Indonesia has attempted to contribute a positive role to seek international consensus on the climate change negotiations, including by becoming the host of Un Conference on Climate Change in Bali (2007), whoch resulted in the Bali Roadmap and Bali Action Plan, both of which has become important stepping stone for the Post-Kyoto Protocol international regime. However, …

Hip-Hop And Housing: Revisiting Culture, Urban Space, Power, And Law, Lisa T. Alexander

Faculty Scholarship

U.S. housing law is finally receiving its due attention. Scholars and practitioners are focused primarily on the subprime mortgage and foreclosure crises. Yet the current recession has also resurrected the debate about the efficacy of place-based lawmaking. Place-based laws direct economic resources to low-income neighborhoods to help existing residents remain in place and to improve those areas. Law-and-economists and staunch integrationists attack place-based lawmaking on economic and social grounds. This Article examines the efficacy of place-based lawmaking through the underutilized prism of culture. Using a sociolegal approach, it develops a theory of cultural collective efficacy as a justification for place-based …

Interview With Professor Kent Greenfield About His Book “The Myth Of Choice: Personal Responsibility In A World Of Limits”, Kent Greenfield

Kent Greenfield

Professor Kent Greenfield’s newest release, The Myth of Choice: Personal Responsibility in a World of Limits (Yale University Press), is a broad-reaching view of the dynamics of choice.

Greenfield’s book begins with his knowledge of law and then ranges widely, tapping areas as diverse as sociology, the study of brain activity, and religious freedoms. He draws on scholarly commentary, news reports, political research polls and his own life decisions to complete the picture of choice and its many dimensions. Examining choice and its influence on public policy and legal theory, The Myth of Choice serves as a catalyst to challenge …