Law Commons^™

The Role Of The Commodity Futures Trading Commission Under The Commodity Futures, Michigan Law Review

Michigan Law Review

After a brief look at the functions of futures markets, the conditions that led to the enactment of the Commodity Futures Trading Commission Act, and the major provisions of the Act, this note will critically examine the information now available on the major issues left to the Commission to decide, point to additional information that would be useful in making judgments on these issues, and recommend solutions. It will then discuss two problems not considered in the 1974 legislation--export controls and margin oversight--suggesting areas for action by the Commission.

The Fcc Computer Inquiry: Interfaces Of Competitive And Regulated Markets, Michigan Law Review

Michigan Law Review

Since the advent of computer technology, data processing and communication services have become increasingly interdependent. In 1966, the Federal Communications Commission launched the Computer Inquiry to explore the broad range of regulatory and policy problems generated by this technological development.2

Recent Trends In Transport Rate Regulation, Leonard S. Goodman

Michigan Law Review

The object of this Article is to describe the trends in the Commission's work during the 1960's in some of the areas of rate regulation that could not be settled by mere reference to costs, and in other areas of changing rate policy. This was a prolific period for the Commission, one that involved many rate innovations and a sense of new direction in certain aspects of rate regulation. The present discussion of the Commission's rate work is in no sense complete; and there is no intention to make it so. By emphasizing the decisions of the recent decade, I …

Lawyers, Economists, And The Regulated Industries: Thoughts On Professional Roles Inspired By Some Recent Economic Literature, Charles Donahue Jr.

Michigan Law Review

In this thesis I begin by examining the causes of the crisis as expounded in the current economic literature. This examination has led me to the conclusion that regulatory practice and policy has suffered from not being sufficiently economic in its orientation. If this point is correct, there remains an important subsidiary question: "What role, if any, should be played by the lawyer?"

Regulation Of Intermodal Rate Competition In Transportation, Joseph R. Rose

Michigan Law Review

The controversy over intermodal rate competition comprehends both legal and economic issues. Clarity requires that each be explicitly stated and separately treated. The legal issues center on the meaning of section 15a(3) of the Interstate Commerce Act and the declaration of the National Transportation Policy that precedes the Act, which are the sources of the Commission's authority. The economic issues involve the effect on resource allocation of rate-making proposals devised to carry out these provisions of the Act.

Motor Vehicle Air Pollution: State Authority And Federal Pre-Emption, David P. Currie

Michigan Law Review

The problem of state authority over motor vehicle air pollution was recently highlighted when the Illinois Air Pollution Control Board, for the first time, adopted regulations to deal with vehicle emissions. Those regulations are disappointingly feeble. Except for outlawing visible smoke and for making it unlawful to dismantle pollution control devices, the new rules do nothing but state that the Board may decide to do something in the future about pollution from automobiles.

In attempting to improve upon these regulations, however, one is struck with a sense of considerable futility. Given the present limits of technology and the necessarily legislative …

Jurisdiction--Atomic Energy--Federal Pre-Emption And State Regulation Of Radioactive Air Pollution: Who Is The Master Of The Atomic Genie?, Michigan Law Review

Michigan Law Review

Pending litigation between the Minnesota Pollution Control Agency and Northern States Power Company presents a potential federal-state conflict over the right of a state to impose upon operators of nuclear power plants more exacting pollution control standards than those required by regulations of the Atomic Energy Commission (AEC). The AEC issued Northern States Power Company a permit to construct a nuclear power generating plant in Monticello, Minnesota. The regulations under which that permit was issued place a ceiling on the amount of radioactive effluents which can be discharged into the air during the course of the plant's operations. But under …

Industrial Health And Safety: The Need For Extended Federal Regulation, J. Michael Harrison

University of Michigan Journal of Law Reform

It is the purpose of this article to raise and answer these questions: (1) Is the current level of injury frequency on the job unsatisfactory? (2) If so, can this level of injury frequency be reduced through more effective industrial safety regulation? (3) To what extent and for what reasons have existing regulatory programs, both public and private, succeeded in reducing frequency rates? (4) In what manner, if at all, should the Federal Government extend its regulation of industrial safety? An affirmative answer to the first two questions is preliminary to the other inquiries. It will be worthwhile to proceed …

Income Tax: Corporations--Incorporated Professional Service Organization Taxable As A Corporation; Kintner Regulations Held Invalid--Empey V. United States, Michigan Law Review

Michigan Law Review

Lawrence G. Empey, a lawyer, was employed by the Drexler and Wald Professional Company, an association of attorneys that had incorporated in 1961 pursuant to the Colorado Corporation Code and rule 265 of the Colorado Rules of Civil Procedure. Empey began his employment with Drexler and Wald in March 1965, and in November of the same year he acquired ten shares (ten per cent) of the outstanding capital stock of the corporation. On his 1965 federal income tax return, he reported income consisting of his salary as an employee of the company for ten months and ten per cent of …

Cary: Politics And The Regulatory Agencies, Donald C. Cook

Michigan Law Review

A Review of Politics and the Regulatory Agencies by William L. Cary

Regulation Of Finance Charges On Consumer Instalment Credit, Robert W. Johnson

Michigan Law Review

The subject of adequate disclosure of finance charges in consumer credit transactions has, in recent years, "become a rallying point for consumers and a battle line for industry." Equal heat is generated by discussions concerning the regulation of finance charges on consumer instalment credit. The aim of this article is to examine briefly the existing pattern of rate regulation and then to explore the purposes of ceilings on consumer finance charges and the problems involved in their design. As is true with the question of disclosure of finance charges, the problems are extremely complex. Men of good will on both …

Removal Of Judicial Functions From Federal Trade Commission To A Trade Court: A Reply To Mr. Kintner, Raoul Berger

Michigan Law Review

Not long ago, Attorney General Rogers stated that, "The entire field of administrative law and of Government regulation may require a searching re-examination of some of the premises on which we have based our conclusions." What lifts this utterance to the level of "man bites dog" is that the Attorney General almost alone among federal administrators does not insist that the administrative process, in major outline, is forever frozen. The orthodox administrative view is exemplified by Mr. Earl W. Kintner's (formerly General Counsel and now Chairman of the Federal Trade Commission) numerous strictures upon the American Bar Association proposal that …

International Control Of The Safety Of Nuclear-Powered Merchant Ships, William H. Berman, Lee M. Hydeman

Michigan Law Review

In recent years we have witnessed the transition of nuclear-powered ships from an imaginative dream to an engineering reality. This vast step from the drawing board to successful operation on the high-seas has taken place in a remarkably short span of time. Nevertheless, in the :flush of enthusiasm over the technological achievement, we must not lose sight of the fact that the promise of nuclear power for the propulsion of ships will not have been fulfilled until nuclear vessels are operating safely and economically over the maritime trade routes of the world. It would be unrealistic to assume that further …

Regulation Of Strip Coal Mining

Indiana Law Journal

State Regulation Note

The Literature Of Opa: Administrative Techniques In Wartime, John W. Willis

Michigan Law Review

It is the purpose of this article to outline the various administrative mechanisms which OPA has devised to carry out the regulation of prices and rents and the rationing of goods. The wisdom of any particular policy is not at issue; we are concerned only with the "how" and not with the "why," with the procedure and not the substance.

If Men Were Angels: A Review, E. Blythe Stason

Michigan Law Review

Occasionally one encounters a new book that is genuinely interesting because of the refreshing vigor with which it attacks an important and timely problem. Such a book is Jerome Frank's new volume, If Men Were Angels. Indeed in some of its chapters its vigor approaches violence, a fact which adds spice to the reading.

Constitutional Law - Due Process - Federal Price Control Under Commerce Clause For Milk And Coal Industries, Stark Ritchie

Michigan Law Review

As a natural concomitant of the prevailing laissez-faire economic philosophy, a strong feeling against any governmental regulation of business prevailed in American legislatures until well into the second half of the nineteenth century. Prices were considered to be especially immune to governmental tampering. The first step in the breakdown of the notion that government had no power over prices was the case of Munn v. Illinois. This decision introduced the doctrine that the legislature had the right to regulate prices in any business which the courts should find to be "affected with a public interest." Posed as a deceivingly …

Regulation Of Public Utilities, By Cassius M. Clay, Alvin C. Johnson

Indiana Law Journal

No abstract provided.

Effective Regulation Of Public Utilities, By John Bauer, Maurice H. Merrill

Indiana Law Journal

No abstract provided.

Administrative Legislation, John A. Fairlie

Michigan Law Review

Few people are aware of the great extent to which public administration in the United States national government is controlled by means of administrative regulations or orders, in the nature of subordinate legislation. Most writers on American government have emphasized the greater detail of statutory legislation in this country as compared with the statutes of continental countries in Europe, or even with Acts of Parliament in Great Britain, and have under-estimated, and indeed have usually ignored entirely, the enormous mass of administrative legislation supplementing Acts of Congress, and issued by the President and the various executive departments, bureaus, commissions. and …

State Regulation Of The Canal Corporation In Colorado, Leonard P. Fox

Michigan Law Review

Inapplicability of the common law doctrine of riparian rights to conditions in the arid region moved the first territorial legislature of Colorado to recognize the counter doctrine of prior appropriation. In fact, the right to the water in the streams of Colorado, by prior appropriation, antedated any legislation. "It was the common law of the people, and legislation, both national and territorial, was but a recognition declaratory of the right as it had theretofore and then existed."-1 Adhering to territorial precedent, Colorado was the first state to incorporate the priority doctrine in its organic law.

Reasonable Rates, Henry Hull

Michigan Law Review

The principles underlying the decisions of the Interstate Commerce Commission are, for the most part, admittedly sound principles, and their number is not inordinately great. But to lawyers, and students of law, the application of these principles seems, in casual reading, to be made as whim or fancy dictates. It is a frequent complaint of the lawyer that there is no law in rate decisions.