Digital Commons Network^™

Assessing Transnational Private Regulation Of The Otc Derivatives Market: Isda, The Bba, And The Future Of Financial Reform, Gabriel Rauterberg, Andrew Verstein

Faculty Scholarship

For the last twenty years, the dominant narrative of the over-the-counter derivatives market has been one of absent regulation, deregulation, and regulatory conflict, predictably resulting in disaster. This Article challenges this narrative, arguing that the global derivatives market has been subject to pervasive and harmonized regulation by what should be recognized as transnational private regulators. Recognizing the reality of widespread transnational private regulation of derivatives has significant implications, which this Article explores. Appreciating the actual regulatory status quo is essential if policymakers are to correctly diagnose problems, avoid past regulatory errors, and plan effective remedies. There are also advantages to …

Alienability And Copyright Law, Shyamkrishna Balganesh

Faculty Scholarship

This chapter examines the interaction between copyright and the concept of alienability to show that it holds important structural and normative lessons for our understanding of the nature of the copyright entitlement, and its limitations. My use of the word ‘interaction’ is deliberate here, since my focus is not just on the question of whether and how inalienability restrictions internal to copyright doctrine motivate our theoretical understanding of copyright and its allied rights (for example, moral rights), a project that others have focused on previously. The chapter will instead attempt to understand how the copyright entitlement has addressed the basic …

The Role Of Unfair Competition In The Common Law, Shyamkrishna Balganesh, Gideon Parchomovsky

Faculty Scholarship

Does the idea of “unfair competition” present the law with a viable alternative to thinking about the regulation of information and informational resources, independent of the traditional categories of the common law (e.g., property/tort) and the assumptions that these categories entail? In this chapter, we argue that, although the answer to that question is no, unfair competition nevertheless plays an important role in complementing the categories of property and torts as they apply to competitive settings. Specifically, unfair competition allows courts to both broaden and narrow the traditional notions of property and torts – especially as they apply to the …

Constitutional Uncertainty And The Design Of Social Insurance: Reflections On The Aca Case, Michael J. Graetz, Jerry L. Mashaw

Faculty Scholarship

The Health Care Case is best understood as a legal attack on the means but not the goals of the health care legislation. This emphasis on means rather than ends and on state over federal powers potentially poses significant risks for the complex institutional arrangements for social insurance that now exist and may imply harmful constraints on how Congress can restructure these programs to better meet the needs of the American people in the twenty-first-century economy. Not coincidentally, the new constitutional framework announced in the ACA decision favors those who want to dismantle rather than strengthen the nation’s social insurance …

Human Rights Obligations To The Poor, Monica Hakimi

Faculty Scholarship

Poverty unquestionably detracts fromthe human rights mission.Modern human rights law recognizes a broad range of rights – for example, “to life, liberty, and security of person” and to adequate “food, clothing, and medical care.”1 Any number of those rights might go unrealized in conditions of extreme poverty. However, human rights law has always been partly aspirational. For those seeking to improve the lives of the poor, the key question is not what rights exist but how to make those rights operational.What does human rights law actually require of states? And how might its obligations benefit the poor?

The Restatement Of The U.S. Law Of International Commercial Arbitration: An Interim Report, George A. Bermann

Faculty Scholarship

Despite its title, the American Law Institute's Restatement (Third) of the U.S. Law of International Arbitration is the ALI's first Restatement ever on the subject of international commercial arbitration. The ALI commissioned this Restatement not merely because the subject has become so important in international commerce, but because the American law on the subject is deeply unsettled. After all, the purpose of Restatements is to bring clarity and coherence and, where necessary, improvement to the law. Historically, Restatements have concentrated on state rather than federal law subjects precisely because of the discrepancies among the laws of the several states on …

A Competition Act By India, For India: The First Three Years Of Enforcement Under The New Competition Act, Dorothy S. Lund

Faculty Scholarship

In 2002, India unveiled its new Competition Act. The Act substantially improves upon the previous competition regime, which regulated and condemned dominance even absent culpable conduct. Despite improvements, provisions of the Act have proven difficult for the fledgling Competition Commission (“the Commission”) to implement. For one, the Act overwhelmingly prefers rule of reason analysis to per se illegality for horizontal and vertical agreements. While this approach gives the Commission the flexibility to conduct a nuanced inquiry, the economic analysis required is challenging. So far, the Commission has struggled when applying basic antitrust economics in the hundred or so orders that …

The Global Determinants Of U.S. Foreign Affairs Law, Daniel Abebe

Faculty Scholarship

A recurring debate in foreign affairs law focuses on the appropriate level of congressional and judicial deference to the President. In answering that question, most scholars focus on the Constitution, Supreme Court precedent, and historical practice for guidance, or evaluate the expertise and strategic incentives of Congress, the President, and the courts. For these scholars, the inquiry exclusively centers on domestic, internal constraints on the President. But this analysis is incomplete. Determination of the appropriate level of deference has consequences for how the President can pursue U.S. interests abroad. If the United States wants to be successful in achieving its …

One Voice Or Many: The Political Question Doctrine And Acoustic Dissonance In Foreign Affairs, Daniel Abebe

Faculty Scholarship

This article examines the merits of the one-voice presumption of the political question doctrine. It has two goals. First, it aims to unpack the underlying assumptions supporting a presumption in favor of one voice in foreign affairs to determine the conditions under which the presumption holds. The traditional account about speaking with one voice focuses on the benefits of centralizing decision making in foreign affairs. The creation of foreign policy and the provision of national security, among other things, are public goods best provided by the national government, rather than the states. Relative to the national government, the states are …

Legislation With Endogenous Preferences, Aviad Heifetz, Ella Segev, Eric L. Talley

Faculty Scholarship

It has long been recognized that individuals' preferences adapt to the social, economic and legal environment in which they take part, in addition to reacting to incentives and constraints given these preferences. Therefore, the design of such incentives via legislation or regulation should better take into account also its own effect on preferences, in order to avoid endogenous preference adaptation curtailing the designer's aims. Furthermore, the endogeneity of preferences poses a dilemma to the social planner whether to maximize welfare having in mind the original preferences of individuals, or rather the preferences that emerge endogenously with the intervention mechanism. This …

Keeping Up With Jim Jones: Pioneer, Taskmaster, Architect, Trailblazer, Kimberlé W. Crenshaw

Faculty Scholarship

It is a special honor to have this opportunity to celebrate Professor Jim Jones's pivotal role in integrating the ranks of the law professoriat. Jim Jones was of course not the only one who hoped that the number of minority law professors would swell as the number of law graduates increased, but unlike those who simply watched and waited, Jim Jones decided to actually do something about the infamous "pool problem" in legal education.

Through his innovation, mentoring, and dogged advocacy, Jim Jones put action to passion, quietly, deliberately, and diligently creating a pipeline of minority law teachers. I know …

Toward A Field Of Intersectionality Studies: Theory, Applications, And Praxis, Sumi Cho, Kimberlé W. Crenshaw, Leslie Mccall

Faculty Scholarship

Intersectional insights and frameworks are put into practice in a multitude of highly contested, complex, and unpredictable ways. We group such engagements with intersectionality into three loosely defined sets of practices: applications of an intersectional framework or investigations of intersectional dynamics; debates about the scope and content of intersectionality as a theoretical and methodological paradigm; and political interventions employing an intersectional lens. We propose a template for fusing these three levels of engagement with intersectionality into a field of intersectional studies that emphasizes collaboration and literacy rather than unity. Our objective here is not to offer pat resolutions to all …

What Does Environmental Justice Mean In An Era Of Global Climate Change?, Michael B. Gerrard

Faculty Scholarship

The 1990s saw the emergence of the issue of environmental justice – the disproportionate exposure of low-income and minority communities to environmental hazards - into the U.S. political sphere. The 2000s saw the emergence of global climate change as a political concern. Neither has led to significant legislation at the federal level, and thus old laws designed for different purposes are being utilized with decidedly mixed results.

This article addresses the confluence of environmental justice and global climate change. The two interact in complex ways, as do the approaches to dealing with them both.

The magnitude of the climate challenge …

Our Place In The World: A New Relationship For Environmental Ethics And Law, Jedediah S. Purdy

Faculty Scholarship

Forty years ago, at the birth of environmental law, both legal and philosophical luminaries assumed that the new field would be closely connected with environmental ethics. Instead, the two grew dramatically apart. This Article diagnoses that divorce and proposes a rapprochement. Environmental law has always grown through changes in public values; for this and other reasons, it cannot do so without ethics. Law and ethics are most relevant to each other when there are large open questions in environmental politics: lawmakers act only when some ethical clarity arises; but law can itself assist in that ethical development. This process is …

Climate Change Action Without Congress, Michael B. Gerrard

Faculty Scholarship

Congress has not enacted major environmental legislation since 1990, and no end to the paralysis is in sight. Nonetheless, there is a great deal that the Obama Administration can do with its existing statutory powers to fight climate change.

The Future Of Public Funding, Richard Briffault

Faculty Scholarship

The title of my talk today is the “the future of public funding,” and I am tempted to say “there’s not much future” for public funding. The 2012 presidential election marked the first time since the presidential public funding law was enacted in 1974 that neither major party presidential candidate accepted public funding in the general election and the first time that no significant contender for a major party nomination accepted public funding in the primary phase. Congressional public funding appears dead in the water. In the last Congress, public funding proposals were referred to House and Senate committees, where …

Survey Of 2012 Cases Under State Environmental Quality Review Act, Michael B. Gerrard

Faculty Scholarship

The courts issued 55 decisions in 2012 under the State Environmen­tal Quality Review Act (SEQRA).1 As this annual survey shows, especially important decisions concerned the necessity of supplemental environmental impact statements (EISs), and the relationship of SEQRA to various federal laws.

The State Department of Environmental Conservation (DEC) was also busy. On Jan. 15, 2012, DEC adopted revised short and full environmental assessment forms, which are used in determining whether full EISs are needed. The new forms become effective on Oct. 7, 2013. They will be accompanied by workbooks and by an updated web-based geographic information system search engine to …

Michael Bloomberg's Environmental Record, Bill De Blasio's Promises, Michael B. Gerrard

Faculty Scholarship

On Nov. 23, 2001, under the headline “Michael Bloomberg’s Environmental Agenda,” this column began, “The stun­ning victory of Michael R. Bloomberg in the Nov. 6 election means that City Hall will be occupied by a man who has no record in environmental affairs.” The column went on to summarize the promises found in Bloomberg’s campaign literature and other statements.

Now with Mayor Bloomberg’s term about to end and Bill de Blasio’s about to begin, we can compare the outgoing mayor’s accomplishments to his promises, and also look at what the incom­ing mayor has pledged.

Reducing Legal Hurdles To Combined Heat And Power In New York, Michael B. Gerrard

Faculty Scholarship

Combined heat and power (CHP or cogeneration) is the simultane­ous production of electricity and thermal energy from a single fuel source. Most CHP systems in New York City use natural-gas fired turbines or reciprocating engines to generate electric­ity and then capture heat from the com­bustion generator’s exhaust stream and cooling systems.

Federal Executive Actions To Combat Climate Change, Michael B. Gerrard

Faculty Scholarship

“I urge this Congress to pursue a bipartisan, market-based solution to climate change, like the one John McCain and Joe Lieberman worked on together a few years ago. But if Congress won’t act soon to protect future generations, I will. I will direct my cabinet to come up with executive actions we can take, now and in the future, to reduce pollution, prepare our communities for the consequences of climate change, and speed the transition to more sustainable sources of energy.”
—President Barack Obama State-of-the-Union Message Feb. 12, 2013

In the current partisan atmosphere in Washington, there appears to be …

The President's Enforcement Power, Kate Andrias

Faculty Scholarship

Enforcement of law is at the core of the President’s constitutional duty to “take Care” that the laws are faithfully executed, and it is a primary mechanism for effecting national regulatory policy. Yet questions about how presidents oversee agency enforcement activity have received surprisingly little scholarly attention. This Article provides a positive account of the President’s role in administrative enforcement, explores why presidential enforcement has taken the shape it has, and examines the bounds of the President’s enforcement power. It demonstrates that presidential involvement in agency enforcement, though extensive, has been ad hoc, crisis-driven, and frequently opaque. The Article thus …

Gandhi And Copyright Pragmatism, Shyamkrishna Balganesh

Faculty Scholarship

Mahatma Gandhi is revered the world over for his views on freedom and nonviolence – ideas that he deployed with great success during India’s freedom struggle. As a thinker, he is commonly considered to have been a moral idealist: anti-utilitarian in mindset and deeply skeptical of market mechanisms. Yet, when he engaged with copyright law – as a writer, editor, and publisher – he routinely abjured the idealism of his abstract thinking in favor of a lawyerly pragmatism. Characterized by a nuanced understanding of copyright law and its conflicting normative goals, Gandhi’s thinking on copyright law reveals a reasoned, contextual, …

Copyright Infringement Markets, Shyamkrishna Balganesh

Faculty Scholarship

Should copyright infringement claims be treated as marketable assets? Copyright law has long emphasized the free and independent alienability of its exclusive rights. Yet, the right to sue for infringement – which copyright law grants authors in order to render its exclusive rights operational – has never been thought of as independently assignable, or indeed as the target of investments by third parties. As a result, discussions of copyright law and policy rarely consider the possibility of an acquisition or investment market emerging for actionable copyright claims and the advantages that such a market might hold for copyright’s goals, objectives, …

The Uneasy Case Against Copyright Trolls, Shyamkrishna Balganesh

Faculty Scholarship

The copyright troll and the phenomenon of copyright trolling have thus far received surprisingly little attention in discussions of copyright law and policy. A copyright troll refers to an entity that acquires a tailored interest in a copyrighted work with the sole objective of enforcing claims relating to that work against copiers in a zealous and dogmatic manner. Not being a creator, distributor, performer, or indeed user of the protected work, the copyright troll operates entirely in the market for copyright claims. With specialized skills in monitoring and enforcing copyright infringement, the troll is able to lower its litigation costs, …

Symposium Honoring The Advocacy, Scholarship, And Jurisprudence Of Justice Ruth Bader Ginsburg: Introduction, Katherine M. Franke

Faculty Scholarship

I want to welcome back Justice Ginsburg to Columbia Law School. She has been a frequent visitor since her time here as a student in the late 1950s and again as a member of our faculty in the 1970s. I know she knows, but it is worth reiterating that she always has a home here at Columbia.

The Legal Landscape: Session 1, Laura Gasaway, Jane C. Ginsburg, Maria Pallante, Shira Perlmutter, Richard Rudick

Faculty Scholarship

Good morning everybody, and thanks for coming. I’m June Besek, the Executive Director of the Kernochan Center for Law, Media and the Arts, and we are especially grateful to those of you who planned to come in November, and when that was postponed still came today. We really feel very grateful to you. This symposium is on copyright exceptions for libraries and section 108 reform, and we are doing this in cooperation with the U.S. Copyright Office. I thank Maria, Chris and Karen for all the work that they put into this as well. I want to thank our sponsors …

If Only We Knew What We Know, Conrad Johnson, Brian Donnelly

Faculty Scholarship

This article contributes to the broader themes surrounding law and technology raised in this symposium by taking a look at lawyering and knowledge management. This topic is presented both as a theory and with a case study. The first part provides a brief summary of the basic lawyering paradigm used in the Lawyering in the Digital Age Clinic at Columbia Law School – that all lawyering activities can be understood within the context of gathering, managing and presenting information. The second category of the paradigm is expanded upon to review the activity of managing knowledge. Then, knowledge management is positioned …

The Ali's Response To The Center For Tobacco Control Research & Education, Rebecca Cooper Ramo, Lance Liebman

Faculty Scholarship

We write in response to the recent Iowa Law Review article about tobacco industry input on several of the American Law Institute's Restatement of Torts. The article errs in its assumption that finding correct legal rules is the same as assessing the results of medical research. It does not recognize that ALI's process for considering improvements in law must be open to input from all sides of the relevant issues. The process which produces Restatements would not be credible or of practical use without participation by lawyers who represent clients on all sides.

Do Sexually Violent Predator Laws Violate Double Jeopardy Or Substantive Due Process?: An Empirical Inquiry, Tamara Rice, Justin Mccrary

Faculty Scholarship

In 1997, the Supreme Court held that the sexually violent predator (SVP) act in Kansas did not violate double jeopardy or substantive due process even though it indefinitely commits an individual to a locked state-run facility after that individual has completed a maximum prison term. In this article, we question a core empirical foundation for the Court’s holding in Hendricks: that SVPs are so dangerous that they will commit repeat acts of sexual violence if they are not confined. Our findings suggest that SVP laws have had no discernible impact on the incidence of sex crimes. These results challenge …

Snake Oil Salesman Or Purveyors Of Knowledge: Off-Label Promotions And The Commercial Speech Doctrine, Constance E. Bagley, Joshua Mitts

Faculty Scholarship

The Second Circuit’s December 2012 decision in United States v. Caronia striking down the prohibition on off-label marketing of pharmaceutical drugs has profound implications for economic regulation in general, calling into question the constitutionality of restrictions on the offer and sale of securities under the Securities Act of 1933, the solicitation of shareholder proxies and periodic reporting under the Securities Exchange Act of 1934, mandatory labels on food, tobacco, and pesticides, and a wide range of privacy protections. In this Article we suggest that Caronia misconstrues the Supreme Court’s holding in Sorrell v. IMS Health, which was motivated by concerns …