Digital Commons Network^™

Geological Storage Of Co2 In Sub-Seafloor Basalt: The Carbonsafe Pre-Feasibility Study Offshore Washington State And British Columbia, David Goldberg, Lara Aston, Alain Bonneville, Inci Demirkanli, Curtis Evans, Andrew Fisher, Helena Garcia, Michael B. Gerrard, Martin Heesemann, Ken Hnottavange-Telleen, Emily Hsu, Cristina Malinverno, Kate Moran, Ah-Hyung Alissa Park, Martin Scherwath, Angela Slagle, Martin Stute, Tess Weathers, Romany M. Webb, Mark White, Signe White, Carbonsafe Cascadia Project Team

Faculty Scholarship

The CarbonSAFE Cascadia project team is conducting a pre-feasibility study to evaluate technical and nontechnical aspects of collecting and storing 50 MMT of CO2 in a safe, ocean basalt reservoir offshore from Washington State and British Columbia. Sub-seafloor basalts are very common on Earth and enable CO2 mineralization as a long-term storage mechanism, permanently sequestering the carbon in solid rock form. Our project goals include the evaluation of this reservoir as an industrial-scale CO2 storage complex, developing potential source/transport scenarios, conducting laboratory and modeling studies to determine the potential capacity of the reservoir, and completing an assessment of economic, regulatory …

Heat Waves: Legal Adaptation To The Most Lethal Climate Disaster (So Far), Michael B. Gerrard

Faculty Scholarship

The worst heatwave in modern history occurred in Russia in 2010; its rare combination of extreme temperatures and long duration killed an estimated 55,000 people. Under an RCP 8.5 scenario, comparable heat waves could occur every two years in the eastern United States by the end of the century, and by then in Europe, the legendary heat wave of 2003 “would be classed as an anomalously cold summer relative to the new climate.” These increased temperatures and heat waves are not just occurring randomly. The science is clear that human activities – mostly greenhouse gas emissions and deforestation – are …

Foreword – The 2017 Tax Cuts: How Polarized Politics Produced Precarious Policy, Michael J. Graetz

Faculty Scholarship

By lowering the corporate tax rate from 35% to 21%, the 2017 tax legislation brought the U.S. statutory rate into closer alignment with the rates applicable in other Organisation for Economic Co-operation and Development (OECD) nations, thereby decreasing the incentive for businesses to locate their deductions in the United States and their income abroad. Its overhaul of the U.S. international income tax rules simultaneously reduced preexisting incentives for U.S. multinationals to reinvest their foreign earnings abroad and put a floor on the benefits of shifting profits to low-tax jurisdictions. The 2017 legislation also added an unprecedented, troublesome lower rate for …

The Search For An Egalitarian First Amendment, Jeremy K. Kessler, David E. Pozen

Faculty Scholarship

Over the past decade, the Roberts Court has handed down a series of rulings that demonstrate the degree to which the First Amendment can be used to thwart economic and social welfare regulation – generating widespread accusations that the Court has created a "new Lochner." This introduction to the Columbia Law Review's Symposium on Free Expression in an Age of Inequality takes up three questions raised by these developments: Why has First Amendment law become such a prominent site for struggles over socioeconomic inequality? Does the First Amendment tradition contain egalitarian elements that could be recovered? And what might a …

Introduction: Troubling Transparency, David E. Pozen, Michael Schudson

Faculty Scholarship

Transparency is a value in the ascendance. Across the globe, the past several decades have witnessed a spectacular explosion of legislative reforms and judicial decisions calling for greater disclosure about the workings of public institutions. Freedom of information laws have proliferated, claims of a constitutional or supra-constitutional "right to know" have become commonplace, and an international transparency lobby has emerged as a civil society powerhouse. Open government is seen today in many quarters as a foundation of, if not synonymous with, good government.

At the same time, a growing number of scholars, advocates, and regulators have begun to raise hard …

Stock Market Manipulation And Its Regulation, Merritt B. Fox, Lawrence R. Glosten, Gabriel Rauterberg

Faculty Scholarship

More than eighty years after federal law first addressed stock market manipulation, federal courts remain fractured by disagreement and confusion about manipulation law's most foundational questions. Only last year, plaintiffs petitioned the Supreme Court to resolve a sharp split among the federal circuits concerning manipulation law's central question: whether trading activity alone can ever be considered illegal manipulation under federal law. Academics have been similarly confused economists and legal scholars cannot agree on whether manipulation is possible in principle; let alone on how, if it is, to address it properly in practice.

This Article offers an analytical framework for understanding …

Naked Open Market Manipulation And Its Effects, Merritt B. Fox, Lawrence R. Glosten, Gabriel Rauterberg

Faculty Scholarship

More than 80 years after US federal law first addressed stock market manipulation, there is still dispute about manipulation law’s foundational principles; this chapter aims to provide clarity by offering an analytical framework for understanding a specific manipulation. There has been a sharp split among the federal circuits concerning manipulation law’s central question: Can trading activity alone ever be considered illegal manipulation? Economists and legal scholars do not agree on whether manipulation is possible in principle, let alone on how to address it properly in practice. The framework offered by this chapter aims to help clarify federal law and may …

Legal Tools For Cities To Cope With Extreme Heat, Michael B. Gerrard, Edward Mctiernan

Faculty Scholarship

Heat causes more deaths in the U.S. than any other natural hazard – more than floods, hurricanes, or tornadoes. As a result of climate change, it is getting worse. Average annual temperatures are now about 1.8°F higher than they were over the period 1895-2016, they will go up to about 2.5°F by mid-century, and if greenhouse gas emissions continue on the current path, they could rise almost 12°F by 2100, and heat waves that now occur once every 20 years could become annual events, according to the U.S. Global Change Research Program.

Going Negative: The Next Horizon In Climate Engineering Law, Tracy Hester, Michael B. Gerrard

Faculty Scholarship

As the global community struggles to turn the Paris Agreement’s commitments into meaningful emission reductions and the United States turbulently reverses its climate policies, the potential role of “negative emissions technologies” and other climate engineering approaches is drawing increasingly serious attention. These technologies are engineering on the grandest scale: climate engineering seeks to offset the effects of anthropogenic climate change by either altering the solar radiation reaching the earth’s surface or changing the composition of the atmosphere itself. Specifically, negative emissions technologies would directly remove greenhouse gases (GHGs) from the ambient air and help to remove accumulated atmospheric carbon dioxide …

From Corporate Law To Corporate Governance, Ronald J. Gilson

Faculty Scholarship

In the 1960s and 1970s, corporate law and finance scholars gave up on their traditional approaches. Corporate law had become “towering skyscrapers of rusted girders, internally welded together and containing nothing but wind.” In finance, the theory of the firm was recognized as an “empty box.” This essay tracks how corporate law was reborn as corporate governance through three examples of how we have usefully complicated the inquiry into corporate behavior. Part I frames the first complication, defining governance broadly as the company’s operating system, a braided framework of legal and non-legal elements. Part II adds a second complication by …

Saving Software's Fair Use Future, Pamela Samuelson, Clark Asay

Faculty Scholarship

The freedom to reimplement application program interfaces (APIs) in independently written software is the key issue at stake in Oracle America, Inc. v. Google Inc. In May 2016, on remand a jury found Google’s use of the Java API elements was a fair use. After the District Court declined to vacate the jury verdict, Oracle appealed for the second time to the Federal Circuit, claiming that it is entitled to a judgment in its favor on the fair use issue as a matter of law. This Article, which is a derivative work of the amicus curiae brief of 42 Intellectual …

Deal Structure, Cathy Hwang, Matthew Jennejohn

Faculty Scholarship

Modern commercial contracts—those governing mergers and acquisitions and financial derivatives, for instance—have become structurally complex and interconnected. Yet contract law largely ignores structural complexity. This Article develops a theory of “contractual structuralism” to explain the important role of structure in every aspect of contract law, from the design of a contract to courts’ interpretation and enforcement.

For generations, scholars have debated whether a court should consider only the text of a contract or also consider broader context to determine parties’ intent. More recently, scholars have shown that parties can choose between textual and contextual interpretation by drafting a contract provision …

The Architecture Of Contract Innovation, Matthew Jennejohn

Faculty Scholarship

Contract law and the formal models of contract economics assume that agreements are fully customized. On the other hand, recent legal research highlights the role standardized terms play in contract design. Those lines of research overlook an important class of contracts between those extremes. Many contracts, such as the merger agreements studied here, are complex combinations of customized and standardized terms, and thereby achieve economies of both scale and scope. Such contracts are “mass customized,” to borrow a term from engineering research. This Article introduces a theoretical framework for understanding how mass customization of such complex agreements is achieved. It …

Intermediary Design Duties, Olivier Sylvain

Faculty Scholarship

Online social networking applications and marketplaces enable users to discover ideas, people, places, and products. The companies behind these services purport to be little more than the conduits through which users socialize and transact business. It is on this premise that, pursuant to the Communications Decency Act (CDA), courts are reluctant to impose liability on intermediaries for their users' illegal online conduct. In spite of language in the statute that would limit the safe harbor to intermediaries that voluntarily moderate users' content and behavior, courts today refrain from granting immunity only in cases in which intermediaries "materially contribute" to illegal …

How Well Do We Treat Each Other In Contract?, Aditi Bagchi

Faculty Scholarship

One of the important contributions of Nathan Oman’s new book is to draw focus onto the quality of the relationships enabled by contract. He claims that contract, by supporting markets, cultivates certain virtues; helps facilitate cooperation among people with diverse commitments; and produces the wealth that may fuel interpersonal and social justice. These claims are all plausible, though subject to individual challenge. However, there is an alternative story to tell about the kinds of relationships that arise from markets i.e., a story about domination. The experience of domination is driven in part by the necessity, inequality, and competition enjoined by …

Race And Rights In The Digital Age, Catherine Powell

Faculty Scholarship

No abstract provided.

A Semantic Framework For The Analysis Of Privacy Policies, Joel R. Reidenberg

Faculty Scholarship

No abstract provided.

Sanctuary Networks As Integrative Enforcement, Ming Hsu Chen

Faculty Scholarship

intended focus is on the widespread response—in cities, churches, campuses, and corporations that together comprise “sanctuary networks”1—to the Trump Administration’s Executive Order 13768 Enhancing Public Safety in the Interior of the United States2 as an instance of the changing relationship between federal, local, and private organizations in the regulation of immigration. After briefly covering the legal background of the Trump Interior E.O., the focus of the Article shifts to the institutional dynamics arising in communities. These institutional dynamics exemplify the beginnings of a reimagi cement policy with a more integrative flavor.

Monetizing Shame: Mugshots, Privacy, And The Right To Access, Eumi K. Lee

Faculty Scholarship

No abstract provided.

Are U.S. Public Lands Unconstitutional?, John D. Leshy

Faculty Scholarship

No abstract provided.

Association Of Legal Intervention Injuries With Race And Ethnicity Among Patients Treated In Emergency Departments In California, Aaron J. Rappaport, Alyssa C. Mooney, Shannon Mcconville, Renee Y. Hsia

Faculty Scholarship

No abstract provided.

The Price Of Law: The Case Of The Eurozone's Collective Action Clauses, Elena Carletti, Paolo Colla, Mitu Gulati, Steven Ongena

Faculty Scholarship

Do markets value contract protections? And does the quality of a legal system affect such valuations? To answer these questions we exploit a unique experiment whereby, after January 1, 2013, newly issued sovereign bonds of Eurozone countries under domestic law had to include Collective Action Clauses (CACs) specifying the minimum vote needed to modify payment terms. We find that CAC bonds trade at lower yields than otherwise similar no-CAC bonds; and that the quality of the legal system matters for this differential. Hence, markets appear to see CACs as providing protection against the legal risk embedded in domestic-law sovereign bonds.

Criminally Bad Management, Samuel W. Buell

Faculty Scholarship

Because of their leverage over employees, corporate managers are prime targets for incentives to control corporate crime, even when managers do not themselves commit crimes. Moreover, the collective actions of corporate management — producing what is sometimes referred to as corporate culture — can be the cause of corporate crime, not just a locus of the failure to control it. Because civil liability and private compensation arrangements have limited effects on management behavior — and because the problem is, after all, crime — criminal law is often expected to intervene. This handbook chapter offers a functional explanation for corporate criminal …

Beyond Bankruptcy: Resolution As A Macroprudential Regulatory Tool, Steven L. Schwarcz

Faculty Scholarship

To try to protect the stability of the financial system, regulators and policymakers have been extending bankruptcy-resolution techniques beyond their normal boundaries. To date, however, their efforts have been insufficient, in part because bankruptcy law traditionally has microprudential goals (to protect individual firms) whereas protecting financial stability is a “macroprudential” goal.

This Article seeks to derive a logical and consistent theory of how and why resolution-based regulation can help to stabilize the financial system. To that end, the Article identifies three possible regulatory approaches: reactive resolution-based regulation, which comprises variations on traditional bankruptcy; proactive resolution-based regulation, which consists of pre-planned …

Whose Lands? Which Public?: The Shape Of Public-Lands Law And Trump's National Monument Proclamations, Jedediah Britton-Purdy

Faculty Scholarship

President Trump issued a proclamation in December 2017 purporting to remove two million acres in southern Utah from national monument status, radically shrinking the Grand-Staircase Escalante National Monument and splitting the Bears Ears National Monument into two residual protected areas. Whether the President has the power to revise or revoke existing monuments under the Antiquities Act, which creates the national monument system, is a new question of law for a 112-year-old statute that has been used by Presidents from Theodore Roosevelt to Barack Obama to protect roughly fifteen million acres of federal land and hundreds of millions of marine acres. …

Normcore, Jedediah Purdy

Faculty Scholarship

The proliferating "crisis-of-democracy" literature, like The Fast and the Furious franchise, has only one plot. And, like the crash-up car-chase movies, it has not let this fact slow its growth. Likely none of these books would exist—certainly none would be remotely the same—if Hillary Clinton had pulled a hundred thousand more votes out of the Midwest in 2016. All are organized around the shock of Trump's victory and allege a national and international crisis of democracy. Just what is the crisis? What is missing from these works, and the commentariat that they represent, is a genuine reckoning with twenty-first-century questions: …

Free Trade, Fair Trade, And Selective Enforcement, Timothy Meyer

Faculty Scholarship

No abstract provided.

Providing Access To Confidential Research Data Through Synthesis And Verification: An Application To Data On Employees Of The U.S. Federal Government, Andrés F. Barrientos, Alexander Bolton, Tom Balmat, Jerome P. Reiter, John M. De Figueiredo, Ashwin Machanavajjhala, Yan Chen, Charley Kneifel, Mark Delong

Faculty Scholarship

Data stewards seeking to provide access to large-scale social science data face a difficult challenge. They have to share data in ways that protect privacy and confidentiality, are informative for many analyses and purposes, and are relatively straightforward to use by data analysts. One approach suggested in the literature is that data stewards generate and release synthetic data, that is, data simulated from statistical models, while also providing users access to a verification server that allows them to assess the quality of inferences from the synthetic data. We present an application of the synthetic data plus verification server approach to …

Leak-Driven Law, Shu-Yi Oei, Diane Ring

Faculty Scholarship

Over the past decade, a number of well-publicized data leaks have revealed the secret offshore holdings of high-net-worth individuals and multinational taxpayers, leading to a sea change in cross-border tax enforcement. Spurred by leaked data, tax authorities have prosecuted offshore tax cheats, attempted to recoup lost revenues, enacted new laws, and signed international agreements that promote “sunshine” and exchange of financial information between countries.

The conventional wisdom is that data leaks enable tax authorities to detect and punish offshore tax evasion more effectively, and that leaks are therefore socially and economically beneficial. This Article argues, however, that the conventional wisdom …

Maduro Bonds, G. Mitu Gulati, Ugo Panizza

Faculty Scholarship

No abstract provided.