Digital Commons Network^™

Should Congress Reform The Accumulated Earnings Tax?, Reuven S. Avi-Yonah

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In this installment of Reflections With Reuven Avi-Yonah, Avi-Yonah explains why the shifting landscape of the corporate tax rate requires congressional intervention. The Tax Cuts and Jobs Act 2017 permanently cut the corporate tax rate from 35 percent to 21 percent, and the Republican victory in the 2024 presidential election means that the rate is unlikely to be raised in the next four years. This means that there is, once again, a large disparity between the top individual tax rate of 37 percent (scheduled to increase to 39.6 percent in 2026 unless Congress acts) and the corporate rate. The corporate …

Is The Obbba Compatible With Pillar 2?, Reuven S. Avi-Yonah

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In this installment of Reflections With Reuven Avi-Yonah, Avi-Yonah compares House and Senate sections of the One Big Beautiful Bill Act and examines the potential effect on international tax relations. On May 22 the House of Representatives passed the One Big Beautiful Bill Act (OBBBA). The House version of the OBBBA extended the Tax Cuts and Jobs Act tax cuts but did not significantly change its international provisions. It did, however, contain proposed section 899, which would have imposed enhanced taxation on residents and corporations from countries that have “discriminatory or extraterritorial taxes,” defined to include primarily the undertaxed profits …

The Future Of Ai Regulation In Drug Development: A Comparative Analysis, Gabriela Lenarczyk, Timo Minssen, W. Nicholson Price Ii, Arti Rai

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As artificial intelligence (AI) transforms drug development, regulatory frameworks are evolving to oversee its implementation, particularly at the US Food and Drug Administration (FDA) and the European Medicines Agency (EMA). This paper makes three contributions to understanding emerging regulatory approaches. First, we offer a comparative analysis of how these agencies have responded to AI-driven advances, incorporating new US executive orders and the European Union (EU)’s AI Act. Second, we propose a novel analytical framework to understand regulatory divergence: the FDA’s flexible, dialog-driven model contrasts with the EMA’s structured, risk-tiered approach, reflecting broader institutional and political-economic differences. While the former encourages …

Math And Aftermath: Impacts Of Unbundling A Large Journal Package On Researcher Perceptions And Behavior, Kizer S. Walker, Adam Chandler, Caitlin Finlay, Gabriela Castro Gessner, Tobi Hines, Jesse Koennecke, Susan Kendrick, Leah Mcewen, Jacob Sayward, Henrik W.W. Spoon

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This study seeks to understand the effects on researchers’ work at a large research university in the wake of the university library’s shift from a near-comprehensive journals package with a single, large publisher to a selective list of individual journal subscriptions. Analyzing historical journal usage, along with turnaway and interlibrary loan trends from the years following the changes, the authors made use of structured interviews with local researchers to bring context and meaning to the quantitative data. The interviews highlighted researchers’ strategies for gaining access to literature in their fields to which the library does not subscribe, and revealed assumptions …

Colombia, Covid-19, And The Colonial Trap: Reflections On The Politics Of Knowledge Production, Fionnuala Ní Aoláin, Bill Rolston, Claire Wright

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The COVID-19 pandemic has made historical and contemporary colonial relationships between and within states more fraught. This complexity is apparent within the research process itself, adding a new dimension to debates on positionality and the politics of knowledge production. Drawing on critical approaches to International Relations, and in dialogue with an emerging literature on the implications of the pandemic for knowledge decolonization, we reflect on our experience as scholars from the UK/Ireland researching colonial legacy and Transitional Justice in Colombia. The aim of this autoethnographic article is to suggest how the COVID-19 pandemic affected inequalities between researchers based in Europe …

Cultural Cognition And The Thoughtful Judge, Jack H.L. Whiteley

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That judges follow what the law is, and not what they wish it was, is a requirement of the rule of law. At the same time, scholars, lawyers, and judges often say that judges’ values influence their decisions. Connecting these two ideas has generated a conversation about the relationship between law, ideology, and politics.

Recently, part of this conversation has focused on a theory called cultural cognition. The theory offers an account of how people’s values shape how they interpret things without their noticing. People whose values tend toward hierarchy sometimes perceive facts differently than people whose values tend toward …

Introduction: Corporate Governance At Work, Claire Hill, Silvie Rohr

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No abstract provided.

Tonry’S Blueprint For The Comparative Study Of Sentencing Law And Policy, Kevin R. Reitz

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This essay explores Michael Tonry’s treatment of sentencing law and policy within the U.S. as an inherently comparative project. The essay draws from Tonry’s “early period” in comparative sentencing from the late 1970s to the middle 1990s, when his writing was largely U.S.-centric, focued on quickly changing conditions in dozens of states and the federal system. Tonry classified the several models of “sentencing reform” that were being tried across the country, drew contrasts in the legal architectures of the new systems, collected data and evaluation research for as many states as possible, and treated the reform-active states as “laboratories” whose …

Review Of Cultural Legal Studies Of Science Fiction, Jacob Sayward

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No abstract provided.

Trends Impacting Law And Popular Culture Collecting In Law School Libraries, Jacob Sayward

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No abstract provided.

Standardization And Accuracy Of Race And Ethnicity Data: Equity Implications For Medical Ai, Alexandra Tsalidis, Lakshmi Bharadwaj, Francis X. Shen

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The rapid integration of artificial intelligence (AI) into healthcare has raised many concerns about race bias in AI models. Yet, overlooked in this dialogue is the lack of quality control for the accuracy of patient race and ethnicity (r/e) data in electronic health records (EHR). This article critically examines the factors driving inaccurate and unrepresentative r/e datasets. These include conceptual uncertainties about how to categorize races and ethnicity, shortcomings in data collection practices, EHR standards, and the misclassification of patients’ race or ethnicity. To address these challenges, we propose a two-pronged action plan. First, we present a set of best …

Revolutionizing Brain Research Using Portable Mri In Field Settings: Public Perspectives On The Ethical And Legal Challenges, Molly K. Madzelan, Frances Lawrenz, Susan M. Wolf, Francis X. Shen

Articles

Introduction New, highly portable MRI (pMRI) technology promises to revolutionize brain research by facilitating field-based studies that can expand research to new settings beyond the traditional MRI suite in a medical center. At this early stage of development, understanding public knowledge and attitudes about pMRI research is crucial. Objective In this article we present the first empirical study of the general public’s willingness to participate in pMRI research, and their perceptions of expected benefits and concerns. Methods & Results We conducted a nationally representative online survey (N = 2,001) administered Aug. 15-31, 2022. We found that respondents were overwhelmingly willing …

Designer Organs: Ethical Genetic Modifications In The Era Of Machine Perfusion, Irina Filz Von Reiterdank, Susan M. Wolf, Raphaela Bento, Insoo Hyun

Articles

Gene therapy is a rapidly developing field, finally yielding clinical benefits. Genetic engineering of organs for transplantation may soon be an option, thanks to convergence with another breakthrough technology, ex vivo machine perfusion (EVMP). EVMP allows access to the functioning organ for genetic manipulation prior to transplant. EVMP has the potential to enhance genetic engineering efficiency, improve graft survival, and reduce posttransplant complications. This will enable genetic modifications with a vast variety of applications, while raising questions on the ethics and regulation of this emerging technology. This review provides an in-depth discussion of current methodologies for delivering genetic vectors to …

Fairness In Contract Law: An Impossibility Theorem?, Francesco Parisi, Brian H. Bix

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Scholars have long debated whether contract law should prioritize maximizing efficiency and social welfare or, instead, prioritize justice, fairness and other deontological values. The debate is partly prescriptive (what should we try to do with contract law rules) and partly conceptual (how should we understand contract law). This article surveys central positions in this debate, distinguishing between the corrective and redistributive functions of contract law and between doing justice between the parties and more systemic effects. It highlights an impossibility theorem that underscores the self-defeating nature of redistributive policies in price-based contractual relationships, using a numerical example and two policy …

Public Perceptions Of Neurotechnologies Used To Target Mood, Memory, And Motor Symptoms, Rémy A. Furrer, Amanda R. Merner, Ian Stevens, Peter Zuk, Theresa Williamson, Francis X. Shen, Gabriel Lázaro-Muñoz

Articles

Public attitudes toward four neurotechnologies for treating three types of brain disorders (mood, motor, and memory) vary on a range of metrics, such as perceived risk, invasiveness, and likelihood of use. In a survey of 1,052 US participants, deep brain stimulation (DBS) was seen as the most invasive and risky among the surveyed methods, involving the greatest perceived change to the person and the least likely to be used personally. Non-surgical options like transcranial magnetic stimulation (TMS) and pills were viewed as more acceptable. Devices targeting motor symptoms were rated as more beneficial and acceptable than those for mood or …

Standardization And Accuracy Of Race And Ethnicity Data: Equity Implications For Medical Ai, Alexandra Tsalidis, Lakshmi Bharadwaj, Francis X. Shen

Articles

Abstract

The rapid integration of artificial intelligence (AI) into healthcare has raised many concerns about race bias in AI models. Yet, overlooked in this dialogue is the lack of quality control for the accuracy of patient race and ethnicity (r/e) data in electronic health records (EHR). This article critically examines the factors driving inaccurate and unrepresentative r/e datasets. These include conceptual uncertainties about how to categorize races and ethnicity, shortcomings in data collection practices, EHR standards, and the misclassification of patients’ race or ethnicity. To address these challenges, we propose a two-pronged action plan. First, we present a set of …

Revoluntionizing Brain Research Using Portable Mri In Field Settings: Public Perspectives On The Ethical And Legal Challenges, Molly K. Madzelan, Frances Lawrenz, Susan Wolf, Francis X. Shen

Articles

Introduction

New, highly portable MRI (pMRI) technology promises to revolutionize brain research by facilitating field-based studies that can expand research to new settings beyond the traditional MRI suite in a medical center. At this early stage of development, understanding public knowledge and attitudes about pMRI research is crucial.

Objective In this article we present the first empirical study of the general public’s willingness to participate in pMRI research, and their perceptions of expected benefits and concerns.

Methods & Results

We conducted a nationally representative online survey (N = 2,001) administered Aug. 15-31, 2022. We found that respondents were overwhelmingly willing …

Race, Gender, And Ordinary Peace: Assessing The Women, Peace, And Security Agenda Through A Coloniality Lens, Fionnuala Niaolain, Claire Wright

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No abstract provided.

By Way Of Conclusion: Making Sense Of Fallacies, Claire Hill

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As noted in the Introduction to this volume, our collective goal is to examine some of the key misconceptions and unquestioned assumptions – which we refer to as ‘fallacies’ – that guide, and often misguide, developments in modern corporate law and financial regulation. These fallacies are embedded and instantiated in scholarship, law, public policy and public opinion. Their intellectual and practical impact is considerable, but it is largely hidden. Critically, these fallacies too often frame legal and policy debates, strongly influencing and even determining policy choices. While our volume does not (and indeed cannot) provide an exhaustive analysis of this …

Tribes And Temperament: Two Underappreciated Determinants Of Market Actor Behavior, Motivations And Beliefs, Claire A. Hill

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This chapter, written for a volume on Hidden Fallacies in Corporate Law and Financial Regulation, argues that markets and market actors can be better understood by taking into account some neglected determinants of behavior, motivations and beliefs -- and ultimately, by embracing an expanded view of rationality.

The neglected determinants are tribes, by which I mean communities with their own norms, rituals, and institutions, and temperament, which I use in its colloquial sense. Deal makers, for instance, can be said to have a community, with norms as to, among other things, ‘what’s market.” Knowing and abiding by the norms conveys …

Review Of A Research Agenda For Patent Law, Jacob Sayward

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No abstract provided.

Core Skills & "Cool Tools" From The Third Generation Of Fcil Librarians, Meredith Capps, Clement Lin, Devan Orr, Alison A. Shea, Loren Turner, Latia Ward

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There have been three generations of foreign, comparative, and international law (FCIL) librarians in the United States (US) in the postwar era. FCIL librarians of the first generation were foreign lawyers who emigrated to the US after World War II. Those of the second generation were American lawyer-librarians who built the infrastructure of FCIL librarianship into what it is today. The third generation of FCIL librarians includes the authors of this article. We perform many of the same research tasks as our predecessors, but we do so primarily online through an ever-evolving array of new and emerging technologies. This article …

Kill 1l, Prentiss Cox

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No abstract provided.

Delay, Politics, And Expertise In Oira Tax Review, Kristin E. Hickman, Bridget C.E. Dooling

Articles

The opening months of the second Trump administration have featured a wide range of changes to federal policy accomplished through presidential  executive orders. Among those changes, a lesser-known shift is the reinstatement of centralized review of tax regulations by the Office of Information of Regulatory Affairs (OIRA).

For many years, most tax regulations were exempt from OIRA review. That changed in the first Trump administration when the Treasury Department (Treasury) and OIRA signed a memorandum of agreement bringing more tax regulations within OIRA’s oversight sphere. In the Biden administration, Treasury and OIRA reversed course, this time clearly and unequivocally exempting …

The Question Not Presented: Government And Social Media Corruption After Murthy V. Missouri, Richard Painter

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The Supreme Court in Murthy v. Missouri in 2024 dismissed a suit by multiple plaintiffs alleging that the Biden Administration’s efforts to persuade social media platforms to monitor content violated the First Amendment. Although the Court did not directly decide the constitutionality of the government policy, the Court imposed a high bar for plaintiffs other than social media platforms to show standing to challenge the constitutionality of government pressure on the platforms. But the coercion problem is not the only troubling aspect of this government policy. The question not presented to the Court was the corruption problem. What happens when …

Beyond The Editorial Analogy: First Amendment Protections For Platform Content Moderation After Moddy V. Netchoice, Alan Rozenshtein, Kyle T. Langvardt

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This Article examines the Supreme Court’s 2024 decision in Moody v. NetChoice and its implications for social media platform regulation. In Moody, which addressed state laws requiring platforms to host certain content, the Court issued a complex set of opinions that left the scope of platforms’ First Amendment rights uncertain. On the procedural question of how such laws may be challenged, the Court provided a clear holding: it rejected facial challenges to broad content-moderation laws, instead requiring case-by-case analysis of how specific regulations affect different platform features—a shift that undermines the tech industry’s longstanding litigation strategy. But on the …

The Problem Of Purpose In Corporate Law, Matthew T. Bodie, Grant M. Hayden

Articles

For the last half century, shareholder primacy has reigned as the dominant definition of corporate purpose, as to both the purpose of individual companies and corporate law more generally. Recently, however, the Business Roundtable, the American Law Institute’s Restatement of the Law: Corporate Governance, and many business and legal academics have developed new answers to explain why we have corporations, and the ends to which their massive economic powers should be directed. This Essay endeavors to reframe the focus of the debate beyond purpose itself into the realm of actual governing power. In order to be meaningful, purpose needs governance. …

Lawyers’ And Law Professors’ Experience With Worker Governance, Brett H. Mcdonnell

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Part I surveys some of the leading arguments concerning the benefits and costs of worker governance. It also describes some of the ways in which those benefits and costs can evolve along with the growth, or lack thereof, of companies with worker governance. Part II looks at governance in law firms. It considers how the explanations for the adoption of worker governance fare with respect to law firms, notes the limited, elitist nature of worker governance within law firms, and considers the consequences of that real but elitist worker governance for the understanding of lawyers. Part III considers the same …

Corporate Governance For Platform Workers, Matthew T. Bodie, Grant M. Hayden Professor

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Regardless of their status under employment law, we believe that corporate law holds untapped potential in reshaping the rights and working conditions of platform workers. While the law of corporate governance remains aligned with shareholder interests, the collapse of the law-and-economics underpinnings of shareholder primacy should prompt us to develop new approaches to corporate governance. In this Essay, we briefly set out three alternative models for determining whether stakeholders should participate in corporate governance: a democratic participation model, a theory of the firm model, and an information theory model. All are fully consistent with the precepts of standard economics that …

Women And Corporate Governance: Time Horizons And Stakeholder Analysis, June R. Carbone

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This Article will build on my earlier work with Naomi Cahn and Nancy Levit to use the fate of women in individual companies to shine new light on the temporal orientations underlying corporate and labor and employment law and provide a basis for a new foundation for a combined approach. This Article will first explain why the shift to shareholder primacy, and the accompanying emphasis on short-term results tied to high stakes bonus pay, disproportionately short-changes female employees, whether in management or in line positions. The Article will maintain that it is not the shift to shareholder primacy in isolation, …