Digital Commons Network^™

Infrastructure Finance For The Public Good: How Asset Recycling Can Untangle The New York Mta's $50 Billion Debt Load, Lev Breydo

Journal of Law and Mobility

Systematic infrastructure underinvestment – a $2.6 trillion ‘gap’ – and accelerating climate change have become facts of life in the United States. Though typically attributed to politics, this Article posits the circumstances as a market disequilibrium rooted in an interplay between unique dimensions of infrastructure and distinctive features of the U.S. approach. Legislative action, including the Infrastructure Investment and Jobs Act, is insufficient to overcome these long-standing challenges.

Based on a broad, global study of effective approaches to infrastructure finance, as well as a multi-disciplinary analysis of the economics, engineering and finance literature, this Article proposes addressing the U.S. infrastructure …

What Is The Best Candidate For A Post-Moore Constitutional Challenge?, Reuven S. Avi-Yonah

Articles

On December 5, 2023, the Supreme Court heard oral arguments in Moore, the case challenging the constitutionality of the mandatory repatriation tax enacted in 2017 (section 965). Most of the justices' questions focused on the potential collateral consequences from requiring realization as a constitutional matter, and the majority seemed inclined to avoid the constitutional issue by focusing on the fact that the income in Moore was realized and that section 965 simply followed a long list of precedents by attributing this corporate income to shareholders in a closely held corporation.

Is Treasury Bound By The Arm's-Length Standard?, Reuven S. Avi-Yonah

Articles

In December 2023 Abbott Laboratories petitioned the Tax Court to reverse $417 million in section 482 deficiencies. The petition addresses many issues, but as Tax Notes contributing editor Ryan Finley pointed out in his excellent recent article, the most important one relates to the issue of whether stock-based compensation should be included in the pool of costs covered by a costsharing arrangement. This is the same issue that taxpayers have litigated repeatedly, with the most recent case, Altera, resulting in an IRS victory in the Ninth Circuit. If Abbott wins, the case is appealable to the Seventh Circuit, potentially setting …

Confrontation, The Legacy Of Crawford, And Important Unanswered Questions, Paul F. Rothstein, Ronald J. Coleman

University of Michigan Journal of Law Reform

The right to confront has a long history. In the United States, the Confrontation Clause provides: “In all criminal prosecutions, the accused shall enjoy the right… to be confronted with the witnesses against him[.]” One of the most troublesome areas of Confrontation Clause jurisprudence has been the Clause’s application to “hearsay statements offered against a criminal defendant pursuant to a hearsay exception or exemption[.]” The Supreme Court’s confrontation analysis in this situation once hinged on the statement’s reliability, with the traditional hearsay rule and its exceptions and exemptions as a guide. But in Crawford v. Washington, the Court considered …

Crawford And The Common Law Criminal Trial, Robert K. Kry

University of Michigan Journal of Law Reform

Three weeks after the Supreme Court decided Crawford v. Washington, Justice Scalia delivered the keynote address at the annual meeting of the American Society of International Law. Justice Scalia expounded on his views of when United States courts should and should not rely on foreign law. He urged that courts interpreting a treaty should look to how foreign courts construe the same instrument, on the reasonable assumption that treaty partners would want to strive for a consistent interpretation. By contrast, he took a dim view of relying on modern foreign law to interpret the U.S. Constitution, as the Court …

Crawford And Criminal Justice, William Ortman

University of Michigan Journal of Law Reform

This essay reflects on whether Crawford v. Washington, now in its third decade of life, matters to criminal justice. For all the talk of Crawford as “revolutionary,” that is, has it made any real difference to the world of crime and punishment? I’ve confronted the question before. In a 2021 essay, I argued that Crawford probably has modest real-world effects. Crawford articulated a right that criminal defendants can exercise only at trial. In an adjudicatory system bereft of trials, trial rights don’t count for much. They impact plea outcomes only when they confer bargaining power sufficient to offset prosecutors’ …

Constructing Confrontation: Between Constitutional And Evidence Theory, Michael S. Pardo

University of Michigan Journal of Law Reform

The United States Supreme Court’s decision in Crawford v. Washington was significant as a matter of both constitutional and evidence law. From a constitutional perspective, the opinion was significant because of its “original public meaning” approach to interpreting the text of the Sixth Amendment’s Confrontation Clause. From an evidentiary perspective, the opinion was significant in recognizing a doctrinal rule that potentially excludes evidence in criminal trials that would otherwise be admissible under the Federal Rules of Evidence as well as State evidence laws. This Essay explores Crawford and the subsequent Confrontation Clause cases from these distinct perspectives—illuminated by constitutional and …

Intentional Parenthood, Contingent Fetal Personhood, And The Right To Reproductive Self-Determination, Laura Hermer

University of Michigan Journal of Law Reform

This Article argues that intent should govern legal parenthood, regardless of the method of conception, the person’s biological or genetic relationship to the resulting embryo/fetus, or the person’s gender. This proposition is not new. This Article adds to scholarly discourse by extending the concept: Intent should not just determine parenthood, but also fetal rights. When a pregnant person establishes their procreational intent (or lack thereof) prior to birth, then both the existence (or lack thereof) of legal protections for the embryo/fetus and the gestator’s rights and duties (or lack thereof) should flow from this intent. Non-gestating gamete contributors would do …

Don’T Forget To Like, Follow, And Regulate: An Argument For The Expansion Of Protections For Child Social Media Influencers, Caroline Waldo

University of Michigan Journal of Law Reform

Child social media influencers, colloquially known as “kidfluencers,” have skyrocketed to fame alongside the growth of social media. However, traditional child labor laws do not consider online influencing “work” or these kids to be “child performers.” Thus, these children do not receive any form of legal protection for their presence online, leaving them open to exploitation and severe harms. This Note explores the lack of protection provided to kidfluencers, ultimately proposing a new federal labor law to expand child actor protections to kidfluencers. Part I of this Note provides a brief history of the landscape by reviewing landmark Supreme Court …

Why Medical Error Is Killing You (And Everyone Else), Phoebe Jean-Pierre

University of Michigan Journal of Law Reform

In 2000, the infamous report To Err is Human rocked society with its focus on the pervasive danger of medical error. More than two decades later, medical error rates remain high and pose a consistent danger to patients. Today, medical error ranks as the fourth leading cause of death behind heart disease, cancer, and COVID-19. Medical error reflects the vulnerabilities of the healthcare process and may be diagnostic in nature. A large concern in responding to medical error is an overemphasis on blame and the idea that good physicians do not make mistakes. Our perspective on how to address medical …

Front Matter, Michigan Law Review

Michigan Law Review

Front Matter for Volume 122, Issue 6 of Michigan Law Review

Of Might And Men, Leah M. Litman, Melissa Murray, Katherine Shaw

Michigan Law Review

A review of Manhood: The Masculine Virtues America Needs By Josh Hawley.

Public Accommodations Parlance, Grace Vedock

Michigan Law Review

Anxieties linger in the interstices of public accommodations law. 303 Creative LLC v. Elenis is the latest in a string of First Amendment cases that call into question the common law duties underpinning public accommodations doctrine. Many commentators have speculated about the decision’s immediate implications. But criticism of the decision is incomplete. This Note takes 303 Creative as a welcome opportunity to reevaluate basic assumptions about how property law operates in relation to constitutional norms. Beginning with the provocative assertion that no legal axiom is infallible, this Note examines permutations of public accommodations and First Amendment law as rhetorical threads …

Front Matter

Michigan Law Review

Front Matter for Volume 123, Issue 2 of Michigan Law Review

Penalizing Precarity, Goldburn P. Maynard Jr., Clinton G. Wallace

Michigan Law Review

Retirement policy in America is oriented around 401(k) plans and other employer- sponsored savings plans, which together will receive a whopping $1.5 trillion in tax subsidies over the next decade. This Article uncovers a harmful flaw in the policy governing withdrawals made prior to reaching retirement age: an unnoticed gap between the rules governing plan distributions and the rules imposing penalties on employees in certain situations. Employees are generally required to seek approval from their plan administrator to receive a “hardship distribution.” These requests are granted for employees who face an “immediate and heavy financial need,” such as eviction or …

Revising The Indian Plenary Power Doctrine, M. Henry Ishitani, Alexandra Fay

Michigan Journal of Race and Law

The federal Indian law doctrine of Congressional plenary power is long overdue for an overhaul. Since its troubling nineteenth-century origins in Kagama v. United States (1886), plenary power has justified invasive Congressional interventions and undermined Tribal sovereignty. The doctrine's legal basis remains a constitutional conundrum. This Article considers the Court's recent engagement with plenary power in Haaland v. Brackeen (2023). It argues that the Brackeen opinions may signal judicial readiness to reevaluate the doctrine. The Article takes ahold of Justice Gorsuch's critical assessment and runs with it, ultimately proposing a method for cleaning up this destructive and constitutionally dubious line …

Valuing Social Data, Amanda Parsons, Salome Viljoen

Articles

Social data production—accumulating, processing, and using large volumes of data about people—is a unique form of value creation that characterizes the digital economy. Social data production also presents critical challenges for the legal regimes that encounter it. This Article provides scholars and policymakers with the tools to comprehend this new form of value creation through two descriptive contributions. First, it presents a theoretical account of social data, a mode of production that is cultivated and exploited for two distinct (albeit related) forms of value: prediction value and exchange value. Second, it creates and defends a taxonomy of three “scripts” that …

Tying Law For The Digital Age, Daniel A. Crane

Articles

Tying arrangements, a central concern of antitrust policy since the early days of the Sherman and Clayton Acts, have come into renewed focus with re-spect to the practices of dominant technology companies. Unfortunately, tying law’s doctrinal structure is a self-contradictory and incoherent wreck. A con-ventional view holds that this mess is due to errant Supreme Court precedents, never fully corrected, that expressed hostility to tying based on faulty economic understanding. That is only part of the story. Examination of tying law’s origins and development shows that tying doctrine was built on a now-dated paradigm of what constitutes a tying arrangement. …

Use Of Artificial Intelligence In Drug Development, Louise C. Druedahl, Nicholson Price, Timo Minssen, Dipl Jur, Ameet Sarpatwari

Articles

Considerable focus has been placed on the health care applications of artificial intelligence (AI). Already, machine learning, a subset of AI that involves “the use of data and algorithms to imitate the way that humans learn” has been used to predict diseases, while AI-powered smartphone apps have been developed to promote mental health and weight loss. Owing in part to such successes, the market for AI in health care has been forecasted to increase more than 1000% between 2022 and 2029, from $13.8 billion to $164.1 billion. One area of substantial promise is drug development, which is poised to benefit …

Protecting The Sovereign's Money Monopoly, Gary B. Gorton, Jeffery Zhang

Articles

Sovereign states have held a monopoly over the production of circulating money for well over a century. Governments, not private entities, issue circulating money. The advent of stablecoins—privately issued digital money that can circulate—raises the question of the sovereign’s money monopoly from the grave. Should private money circulate alongside sovereign money in the twenty-first century? We argue against coexistence to preserve financial stability and monetary sovereignty.

Through the lens of economic theory, we explore the coexistence question by revisiting the original debates that led to the sovereign’s money monopoly in England, the United States, Canada, and Sweden. In each case, …

The Macroprudential Myth, Jeremy C. Kress, Jeffery Yufeng Zhang

Articles

According to conventional wisdom, the 2008 fnancial crisis fundamen- tally changed how policymakers approach fnancial regulation. Before the crisis, regulators sought to prevent individual fnancial institutions from collapsing, but this “microprudential” strategy proved inadequate to stop the market-wide meltdown. In response, policymakers purportedly turned to a new “macroprudential” approach that prioritizes the stability of the fnancial system as a whole instead of individual institutions in isolation. Regulators in the United States and abroad enthusiastically embraced macroprudential policy, implementing stress tests, capital buffers, liquidity requirements, and other supposed macroprudential tools. As the United States’ top bank regulator declared in 2015, “[W]e …

Building The Gateway: Why The Two Pillars Need Each Other., Reuven S. Avi-Yonah, Ajitesh Kir

Articles

There is a reason the OECD proposed two pillars for its gateway to a better tax future. A gateway requires both pillars, and neither can stand without the other. Pillar 2 is a fait accompli, but it needs countries to implement Pillar 1 as well because in the absence of a clear sourcing rule there is no limit to countries implementing the Qualified Domestic Minimum Top-Up Tax (QDMTT), which would turn off the other parts of Pillar 2 and potentially result in double taxation. Pillar 1 is not going forward in the absence of a Multilateral Tax Convention (MLC), but …

Meme Corporate Governance, Dhruv Aggarwal, Albert H. Choi, Yoon-Ho Alex Lee

Articles

Can retail investors revolutionize corporate governance and make public companies more responsive to social concerns? Beginning in 2021, there was a dramatic influx of retail investors into the shareholder base of “meme” stock companies such as GameStop, AMC, and Bed Bath & Beyond. Observing the unprecedented, coordinated trading among retail investors, scholars and practitioners predicted that the influx of retail investors would reduce the power of large institutional investors and democratize corporate governance. These predictions were driven by three factors: generational, with assumptions that millennial and Gen Z investors would challenge corporate management; societal, reflecting growing discontent with slow progress …

Congress And Shifting Sands In Administrative Law., Christopher J. Walker

Articles

In recent years, we have seen an anti-administrativist turn in the federal judiciary, with the Supreme Court limiting agency power in important respects. These shifting sands in administrative law seem to be motivated, at least in part, by the Court’s perception of the rise of presidential administration and decline in legislative activity. As part of the Widener Commonwealth Law Review Judging in Administrative Law Symposium, this Essay assesses how the Court has responded to concerns about over-presidentialism and then sketches out several ways Congress can respond to reassert itself in federal lawmaking.

21st-Century Environmental Challenges And Revitalizing Epa Enforcement, David Uhlmann

Articles

This is a profound moment for environmental protection efforts in our country. Over the past half-century, under presidents of both parties, we have made great progress addressing the challenges that led to the enactment of our environmental laws during the 1970s. Our air is cleaner, our rivers and streams are healthier, and we have far fewer hazardous waste sites. We have achieved those successes because of conscientious companies across America who meet their environmental obligations and the vigilance of the U.S. Environmental Protection Agency (EPA) and the Justice Department when companies break the law and put their profits before the …

Taxation And Corporate Governance, Reuven S. Avi-Yonah, Ariel Siman

Articles

Legal and economic scholars have examined the intersection between corporate governance and taxation; however, recent legal scholarship has generally focused on the interplay between director compensation, management measures in the face of the market for corporate control, and the double taxation of inter-corporate dividends. Other aspects of the relationship between corporate governance and taxation have received limited attention. This article aims to fill this gap in the literature. First, this paper discusses the corporate agency problem and the existing justifications for the corporate tax. Second, this paper argues that the corporate tax can be justified on the ground that it …

Applying Strict Scrutiny In Termination Of Parental Rights Proceedings: Why Alabama’S Jurisprudence Should Reshape Child Protection Practice, Christopher Church, Vivek Sankaran

Articles

“Our decision in [Pierce] holds that parents have a fundamental constitutional right to rear their children . . . . I would apply strict scrutiny to infringements of fundamental rights.” “[S]trict scrutiny leaves few survivors.” Termination of parental rights (TPR) stands as “a unique kind of deprivation” that results in the state irrevocably severing a parent’s fundamental right to care for their child. In The Ties that Bind Us, we scrutinized the child protection system’s overuse of TPR, employing clinical, empirical, and constitutional perspectives. This Article advocates for a constitutionally anchored framework aimed at enforcing strict scrutiny when considering TPR …

Feedback Loops: Fortifying Feedback, Patrick Barry

Articles

Feedback has an Important role to play in the fight against impostor syndrome and its many toxic by-products, including isolation, dread, depression, drops in motivation, and negative self-talk. In 2013, for example, one of the American Psychological Association’s oicial publications, gradPSYCH magazine, ran a cover story called “Feel like a Fraud?” that highlighted the stabilizing power that the right kind of feedback can provide. “he thing that made so much diference was supportive, encouraging supervision,” explained a graduate student interviewed for the story.

Bank Runs During Crypto Winter, Gary B. Gorton, Jeffery Yufeng Zhang

Articles

“Crypto Winter” refers to a systemic event that occurred in the cryptocurrency ecosystem—what we call “crypto space”—in 2022. Crypto space was wracked by plummeting crypto prices, the troubles of a large crypto hedge fund, and runs on many crypto lending platforms. Several large crypto firms went bankrupt. Collectively, everyday people lost billions of dollars. And crypto investors are still feeling the aftershocks.

We begin with two observations: First, despite mass marketing campaigns to the contrary, crypto lending platforms recreated and replicated traditional banking. They were vulnerable to runs because, like all banks, they borrowed short and lent long. This is …

Cognitive Dissonance In The Antebellum South About The Lawfulness Of Slavery, Peter K. Westen

Articles

The institution of slavery, by its nature, was necessarily grounded in law. For whenever a society adjudges one class of persons as free and another as enslaved, law-like norms must exist to identify and distinguish the free from the enslaved. And whenever a society institutionalizes slavery, law-like norms must exist to establish the privileges and disabilities possessed by masters, by the enslaved, and by third persons in relation to masters and slaves. Such master-slave norms may not always be enforced. But, until societies disavow or disremember them, they constitute standards of right and wrong that master-slave societies profess to embrace. …