Fostering Innovation And Entrepreneurship: Shark Tank Shouldn't Be The Model, 2018 University of Tennessee
Fostering Innovation And Entrepreneurship: Shark Tank Shouldn't Be The Model, Brian Kingsley Krumm
Arkansas Law Review
For the past half century, innovation has driven the economic growth that has made the American economy the envy of the world. For most of this period, venture capitalists provided not only the capital that new innovative companies needed, but also the management expertise.
Macroeconomic Modeling Of Tax Policy: A Comparison Of Current Methodologies, 2018 Georgetown University Law Center
Macroeconomic Modeling Of Tax Policy: A Comparison Of Current Methodologies, Itai Grinberg, Alan J. Auerbach, Thomas A. Barthold, Nicholas Bull, W. Gavin Elkins, Pamela J. Moomau, Rachel Moore, Benjamin Page, Brandon Pecoraro, Kyle Pomerleau
Alan J. Auerbach
The macroeconomic effects of tax reform are a subject of significant discussion and controversy. In 2015, the House of Representatives adopted a new “dynamic scoring” rule requiring a point estimate within the budget window of the deficit effect due to the macroeconomic response to certain proposed tax legislation. The revenue estimates provided by the staff of the Joint Committee on Taxation (JCT) for major tax bills often play a critical role in Congressional deliberations and public discussion of those bills. The JCT has long had macroeconomic analytic capability, and in recent years, responding to Congress’ interest in macrodynamic estimates for ...
Dual Residents: A Sur-Reply To Zelinsky, 2018 University of Pennsylvania Law School
Dual Residents: A Sur-Reply To Zelinsky, Michael S. Knoll, Ruth Mason
Faculty Scholarship at Penn Law
In this article, we respond to Professor Zelinsky’s criticism of our arguments regarding the constitutionality of New York’s tax residence rule. We argue that the Supreme Court’s decision in Wynne requires reconsideration of the New York Court of Appeal’s decision in Tamagni.
Beat It: Tax Reform And Tax Treaties, 2018 University of Michigan Law School
Beat It: Tax Reform And Tax Treaties, Reuven S. Avi-Yonah
Law & Economics Working Papers
The Tax Cuts and Jobs Act (TCJA) includes several provisions that may be viewed as potential violations of US tax treaties. However, most of those potential violations, such as new IRC section 951A and to a large extent new IRC section 59A, are covered by the Savings Clause (US model article 1(4)). The only remaining question is whether IRC section 59A (the “Base Erosion Anti-Abuse Tax”, or BEAT) violates the non-discrimination provision (article 24), which is exempted from the Savings Clause. The answer is no, because foreign related parties are not comparable to US related parties receiving interest or ...
Sb 219 - Autonomous Vehicles, 2018 Georgia State University College of Law
Sb 219 - Autonomous Vehicles, W. Perry Hicks, Alan J. Ponce
Georgia State University Law Review
The Act amends Georgia’s Motor Vehicles and Traffic Code to create a legal framework for autonomous vehicles to operate in Georgia. Persons responsible for operating fully autonomous vehicles are exempted from holding a driver’s license. In the event of an accident involving an autonomous vehicle, the vehicle must remain at the scene and the operator of the autonomous vehicle must provide necessary information to law enforcement. Minimum liability insurance requirements for autonomous vehicles will be the same as minimum coverages required for the taxi and limousine industry after January 1, 2020. Minimum coverages are set at 250 percent ...
Localism, Labels, And Animal Welfare, 2018 Florida State University
Localism, Labels, And Animal Welfare, Samuel R. Wiseman
Northwestern Journal of Law & Social Policy
The law does relatively little to improve the welfare of animals raised for food. In the short term, at least, market-based solutions appear to have more promise as a means of promoting farm animal welfare, as consumers increasingly seek out local and humanely-raised meat and eggs. To aid consumers in identifying these products, certification systems of varying degrees of rigor exist, but even these are of little use to consumers in the restaurant context, which accounts for a large percentage of meat consumption. Patrons see only finished meals, making fraud difficult to detect, and a recent newspaper investigation suggests that ...
How Terrible Is The New Tax Law? Reflections On Tra17, 2018 University of Michigan Law School
How Terrible Is The New Tax Law? Reflections On Tra17, Reuven S. Avi-Yonah
Law & Economics Working Papers
Overall, TRA17 is not much worse than TRA86 or TRA14. It increases the deficit, but not by an impossible amount; it is distributionally skewed, but less so than is usually assumed; and its details are not terrible (on the international side they are a big improvement over prior law). There is one big problem, the pass through provisions, and we can only hope that as its horrible implications unfold it will be a prime candidate for repeal.
Defining The Economic Pie, Not Dividing Or Maximizing It, 2018 University at Buffalo School of Law
Defining The Economic Pie, Not Dividing Or Maximizing It, Martha T. Mccluskey
This essay challenges the question that drives much of legal analysis: whether to maximize or divide the “economic pie.” Regardless of the answer, this question skews legal analysis and rests on dubious economics. This framing binary inherently presents economic maximizing as the presumptive norm, represented as superior to socioeconomic distribution in both spatial and temporal dimensions. By definition, economic “maximizing” stands larger in scope and first in order. The essay first critiques the idea that legal analysis can aim to make the economy bigger without engaging contested questions of value and politics, showing how this misleading separation of quantity from ...
Does Contract Law Need Morality?, 2018 Duke Law School
Does Contract Law Need Morality?, Kimberly D. Krawiec, Wenhao Liu
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 other ...
A Theory Of Poverty: Legal Immobility, 2018 Duke Law School
A Theory Of Poverty: Legal Immobility, Sara Sternberg Greene
The puzzle of why the cycle of poverty persists and upward class mobility is so difficult for the poor has long captivated scholars and the public alike. Yet with all of the attention that has been paid to poverty, the crucial role of the law, particularly state and local law, in perpetuating poverty is largely ignored. This Article offers a new theory of poverty, one that introduces the concept of legal immobility. Legal immobility considers the cumulative effects of state and local laws as a mechanism through which poverty is perpetuated and upward mobility is stunted. The Article provides an ...
The Hausmann-Gorky Effect, 2018 Duke Law School
The Hausmann-Gorky Effect, Mitu Gulati, Ugo Panizza
For over a century, legal scholars have debated the question of what to do about the debts incurred by despotic governments; asking whether successor non-despotic governments should have to pay them. That debate has gone nowhere. This paper examines whether an Op Ed written by Harvard economist, Ricardo Hausmann, in May 2017, may have shown an alternative path to the goal of increasing the cost of borrowing for despotic governments. Hausmann, in his Op Ed, had sought to produce a pricing penalty on the entire Venezuelan debt stock by trying to shame JPMorgan into removing Venezuelan bonds from its emerging ...
Inclusive Capitalism Based On Binary Economics And Positive International Human Rights In The Age Of Artificial Intelligence, 2018 Washington University in St. Louis
Inclusive Capitalism Based On Binary Economics And Positive International Human Rights In The Age Of Artificial Intelligence, Chris Fleissner
Washington University Global Studies Law Review
The degree to which wage labor will sustain purchasing power over the long term has become a subject of renewed scrutiny in the twenty-first century. Decreasing labor share of compensation for economic growth and the development of disruptive automation technologies approaching human-level intelligence have invited inquiries into the institutions, rules, and norms driving the generation and distribution of earnings from labor and capital, the concentration of wealth, and access to opportunities to participate in the global economy.
This Note considers the role of positive human rights in this context through the lens of a paradigm known as inclusive capitalism based ...
Feeding The Eco-Consumer, 2018 University of Colorado Law School
Feeding The Eco-Consumer, Alexia Brunet Marks
There is a lot of talk about making our food system more “sustainable,” and eco-consumers — those who consider environmental sustainability as an important purchasing priority — are making themselves heard. This growing consumer segment is rapidly gaining national attention for moving more sustainable products to the market, and for its willingness to pay more for these options. However, while economists normally predict that higher prices lead profit-minded suppliers to enter a market to meet a new and growing demand, this transition is not occurring at the pace one would expect.
This Article argues that land tenure status — whether a farmer rents ...
The 1492 Jewish Expulsion From Spain: How Identity Politics And Economics Converged, 2018 Georgia Southern University
The 1492 Jewish Expulsion From Spain: How Identity Politics And Economics Converged, Michelina Restaino
University Honors Program Theses
In 1492, after Queen Isabella and King Ferdinand defeated the last Muslim stronghold on the Iberian Peninsula, they presented the Jewish community throughout their kingdoms with a choice: leaving or converting to Catholicism. The Spanish kingdoms had been anti-Jewish for centuries, forcing the creation of ghettos, the use of identifying clothing, etc. in an effort to isolate and “other” the Jews, who unsuccessfully sought peaceful co-existence. Those who did not accept expulsion, but converted, were the subject of further prejudice stemming from a belief that Jewish blood was tainted and that conversions were undertaken for financial gain. The government’s ...
The Economics Of American Higher Education In The New Gilded Age, 2018 University of Colorado Law School
The Economics Of American Higher Education In The New Gilded Age, Paul Campos
No abstract provided.
If We Pay Football Players, Why Not Kidney Donors, 2018 Duke Law School
If We Pay Football Players, Why Not Kidney Donors, Philip J. Cook, Kimberly D. Krawiec
Ethicists who oppose compensating kidney donors claim they do so because kidney donation is risky for the donor’s health, donors may not appreciate the risks and may be cognitively biased in other ways, and donors may come from disadvantaged groups and thus could be exploited. However, few ethical qualms are raised about professional football players, who face much greater health risks than kidney donors, have much less counseling and screening concerning that risk, and who often come from racial and economic groups deemed disadvantaged. It thus seems that either ethicists—and the law—should ban both professional football and ...
How Investors Can (And Can't) Create Social Value, 2018 Columbia Law School
How Investors Can (And Can't) Create Social Value, Paul Brest, Ronald J. Gilson, Mark A. Wolfson
Most investors have a single goal: to earn the highest financial return. These socially-neutral investors maximize their risk-adjusted returns and would not accept a lower financial return from an investment that also produced social benefits. An increasing number of socially-motivated investors have goals beyond maximizing profits. Some seek investments that are aligned with their social values (value alignment), for example by only owning stock in companies whose activities are consistent with the investor’s moral or social values. Others may also want their investment to make portfolio companies create more social value (social value creation). The thrust of this essay ...
Smart Contracts And The Cost Of Inflexibility, 2018 University of Pennsylvania
Smart Contracts And The Cost Of Inflexibility, Jeremy M. Sklaroff
Prize Winning Papers
No abstract provided.
The Elephant Always Forgets: Tax Reform And The Wto, 2018 University of Michigan Law School
The Elephant Always Forgets: Tax Reform And The Wto, Reuven S. Avi-Yonah
Law & Economics Working Papers
The “Tax Cuts and Jobs ACT” (TCJA) enacted on December 22, 2017, includes several provisions that raise WTO compliance issues. At least one such provision, the Foreign-Derived Intangible Income (FDII) rule, is almost certain to draw a challenge in the WTO and is likely to lead to another US loss and resulting sanctions. This outcome would be another addition to the repeated losses suffered by the US for export subsidies from the 1970s to 2004, which led to the imposition of sanctions and the ultimate repeal of the offending regime. The important question for 2018 and beyond is whether the ...
Old Issues New Perspectives, 2018 Florida Agricultural and Mechanical University
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.