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Full-Text Articles in Economics
Antitrust Energy, D. Daniel Sokol, Barak Orbach
Antitrust Energy, D. Daniel Sokol, Barak Orbach
D. Daniel Sokol
Marking the centennial anniversary of Standard Oil Co. v. United States, we argue that much of the critique of antitrust enforcement and the skepticism about its social significance suffer from “Nirvana fallacy” — comparing existing and feasible policies to ideal normative policies, and concluding that the existing and feasible ones are inherently inefficient because of their imperfections. Antitrust law and policy have always been and will always be imperfect. However, they are alive and kicking. The antitrust discipline is vibrant, evolving, and global. This essay introduces a number of important innovations in scholarship related to Standard Oil and its modern …
Interest Groups In The Teaching Of Legal History, Herbert J. Hovenkamp
Interest Groups In The Teaching Of Legal History, Herbert J. Hovenkamp
All Faculty Scholarship
One reason legal history is more interesting than it was several decades ago is the increased role of interest groups in our accounts of legal change. Diverse movements including law and society, critical legal theory, comparative law, and public choice theory have promoted this development, even among writers who are not predominantly historians. Nonetheless, in my own survey course in American legal history I often push back. Taken too far, interest group theorizing becomes an easy shortcut for assessing legal movements and developments without fully understanding the ideas behind them.
Intellectual history in the United States went into decline because …
Three Essays In Macroeconomic History, Joshua W. Mason
Three Essays In Macroeconomic History, Joshua W. Mason
Doctoral Dissertations
Following Minsky, an economy can be understood as a set of units linked to each other by flows of money payments and by the commitments to future payments reflected on balance sheets. This dissertation offers three accounts of the historical evolution of the US economy, conceived of a network of balance sheets, over the course of 20th and early 21st century. The first essay looks at changes in the pattern of payment flows between nonfinancial corporations and financial markets associated with the ``shareholder revolution" of the 1980s. It argues that the shift in payouts to shareholders from a quasi-fixed stream …
An Academic Parable: Robert W. Fogel's Raft, Heitor Moura Filho
An Academic Parable: Robert W. Fogel's Raft, Heitor Moura Filho
Heitor Moura Filho
The book Time on the Cross: The Economics of American Negro Slavery, by Robert W. Fogel and Stanley L. Engerman achieved great fame as a revolutionary interpretation of North American slavery, even though at the time it was criticized in detail by specialists in quantitative economic history. We believe that to quote it as a pioneering quantitative study of slavery has become an academic “meme”, which does not adequately reflect the severe criticism suffered by the book during the years following its publication. This text looks back to the book’s release and the subsequent debates in the ideological and methodological …