Legal History Commons^™

Editor's Observations: The 2001 Economic Crime Package: A Legislative History, Frank O. Bowman Iii

Faculty Publications

On April 6, 2001, the U.S. Sentencing Commission approved a group of amendments to guidelines governing the sentencing of economic crimes. These measures, collectively known to as the “economic crime package,” are the culmination of some six years of deliberations by both the Conaboy and Murphy Sentencing Commissions working together with interested outside groups such as the defense bar, the Justice Department, probation officers, and the Criminal Law Committee of the U.S. Judicial Conference, The package contains three basic components. First, the now-separate theft and fraud guidelines, Sections 2B1.1 and 2F1.1, will be consolidated into a single guideline. Second, the …

The "New" Law And Psychology: A Reply To Critics, Skeptics, And Cautious Supporters, Jeffrey J. Rachlinski

Cornell Law Faculty Publications

Antitrust Beyond Competition: Market Failures, Total Welfare, And The Challenge Of Intramarket Second-Best Tradeoffs, Peter J. Hammer

Michigan Law Review

Should antitrust law ever sanction the accumulation of market power or permit other restraints of trade if such conduct would increase social welfare? This is the challenge raised by intramarket second- best tradeoffs. The lesson of second-best analysis is that one market failure can sometimes counteract the effects of another market failure. In the presence of multiple market failures, it is conceivable that mergers or other restraints traditionally viewed as anticompetitive may be welfare-enhancing. A social planner, given the mandate of maximizing total welfare, would permit such restraints. Could an antitrust judge come to the same result under a defensible …

Vern Countryman And The Path Of Progressive (And Populist) Bankruptcy Scholarship, David A. Skeel Jr.

All Faculty Scholarship

Throughout the 1960s and 1970s, Vern Countryman was the leading progressive bankruptcy scholar - and in fact the leading bankruptcy scholar of any perspective. This article explores the links between Countryman's work and that of his New Deal predecessors, on the one hand, and his successors, on the other. In addition to Countryman himself, the article focuses on William Douglas, who was Countryman's predecessor and mentor, as well as being the leading bankruptcy scholar of the New Deal. Among Countryman's successors, the article focuses on the work of Elizabeth Warren, Countryman's successor at Harvard Law School and the nation's leading …

Critical Race Theory And Postcolonial Development Theory: Observations On Methodology, Chantal Thomas

Cornell Law Faculty Publications

No abstract provided.

The Limits Of Behavioral Decision Theory In Legal Analysis: The Case Of Liquidated Damages, Robert A. Hillman

Cornell Law Faculty Publications

Discontent with the apparent tunnel vision of economic analysis of law's rational choice theory, legal scholars recently have turned with enthusiasm to "behavioral decision theory" (BDT) to enrich their understanding of how people make decisions and of the law's effect on human behavior. This article, for the first time, evaluates BDT's potential contribution to legal analysis by focusing on a single, important legal paradox: Despite contract law's freedom of contract paradigm, courts actively and enthusiastically police agreed damages provisions. Although the article finds an important place in legal analysis for this new discipline, the article raises and discusses several obstacles …

The Marshall Court And Property Rights: A Reappraisal, 33 J. Marshall L. Rev. 1023 (2000), James W. Ely Jr.

UIC Law Review

No abstract provided.

Property Rights In John Marshall's Virginia: The Case Of Crenshaw And Crenshaw V. Slate River Company, 33 J. Marshall L. Rev. 1175 (2000), J. Gordon Hylton

UIC Law Review

No abstract provided.

Expressive Law And Oppressive Norms: A Comment On Richard Mcadams's "A Focal Point Theory Of Expressive Law", Amy L. Wax

All Faculty Scholarship

No abstract provided.

Knowledge About Welfare: Legal Realism And The Separation Of Law And Economics, Herbert J. Hovenkamp

All Faculty Scholarship

The welfare state could not function without judgments about how well off its citizens are. For example, governments devise progressive income taxes, which are designed to capture more wealth from the well off and less from the impecunious. These policies presume an ability to take a manageable amount of information about an individual's income or assets and make judgments about her welfare. In fact, people do this all the time, mostly without thinking about the methodological problems involved.

The superficial casualness of our daily observations about welfare belies the state of the economic science of welfare measurement. Economists have attempted …

Corporate Law As A Facilitator Of Self Governance, Edward B. Rock, Michael L. Wachter

All Faculty Scholarship

No abstract provided.

"Bad For Business": Contextual Analysis, Race Discrimination, And Fast Food, 34 J. Marshall L. Rev. 207 (2000), Regina Austin

UIC Law Review

No abstract provided.

A Public Choice Approach To Private Ordering: Rent-Seeking At The World's First Futures Exchange: Comments On Mark West's 'Private Ordering At The World's First Futures Exchange', Omri Yadlin

Michigan Law Review

The literature on private ordering systems has expanded exponentially over the last decade. Yet, very few scholars have actually attempted to define the term "private ordering" - a failure that sometimes leads to confusion. Some scholars identify private ordering with non-state ordering. According to this view, the private legal systems Robert Ellickson, Lisa Bernstein, McMillan & Woodruff, Mark West, and others have investigated are "private" simply because their norms are not manufactured or enforced by the state. The alternative view emphasizes the decentralized feature of private ordering systems. Robert Ellickson, for example, studied "how people manage to interact to mutual …

Empirical Insight And Some Thoughts On Future(S) Investigation: Comments On Mark West's 'Private Ordering At The World's First Futures Exchange', A.W. Brian Simpson

Michigan Law Review

Some considerable number of years ago, when I was in Chicago, I had a plan to undertake a general study of the origins of futures markets. They fascinated me for a variety of reasons, one being their bizarre nature: traders meeting together, usually in some form of ring, in order to sell, on a huge scale, quantities of commodities which they neither possess, nor intend to possess, to other traders, who have not the least wish to receive such commodities, and nowhere to put them if they did. At first sight it appears a weird perversion of the institution of …

There's A Forest In Those Trees: Teaching About The Role Of Corporations In Society, Kent Greenfield

Kent Greenfield

This paper was prepared for the University of Georgia School of Law Conference on Teaching Corporate Law, October 16, 1999. The paper argues that the basic corporate law course should focus much more on the questions surrounding the role of the corporation in society. In the typical corporate law course, little attention is given to the broad question of the position of the corporation within society at large or the narrower question of the relationship between the corporation and workers. The lack of consideration of these issues is odd indeed, since corporate law (like all law) is understandable only within …