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Interpretation And Construction In Altering Rules, Gregory Klass
Interpretation And Construction In Altering Rules, Gregory Klass
Georgetown Law Faculty Publications and Other Works
This essay is a response to Ian Ayres's, "Regulating Opt-Out: An Economic Theory of Altering Rules," 121 Yale L.J. 2032 (2012). Ayres identifies an important question: How does the law decide when parties have opted-out of a contractual default? Unfortunately, his article tells only half of the story about such altering rules. Ayres cares about rules designed to instruct parties on how to get the terms that they want. By focusing on such rules he ignores altering rules designed instead to interpret the nonlegal meaning of the parties' acts or agreement. This limited vision is characteristic of economic approaches to …
Loss, Heidi Li Feldman
Loss, Heidi Li Feldman
Georgetown Law Faculty Publications and Other Works
Within Republican political circles, numerous state legislatures, and even the U.S. Congress, advocating caps on "noneconomic" damages in tort suits is in vogue, as part of the ongoing politics of "tort reform." Yet, the distinction between "economic" and "noneconomic" damages is nonsensical. It does not originate in the discipline of economics, but seems instead to be purely a rhetorical invention of those who wish to limit damages by any means politically possible. But law reform based on sheer rhetoric should be shunned; unprincipled rhetoric is no substitute for justificatory reasons, and to make laws without reasons exemplifies arbitrariness and injustice. …
Post-Chicago Law And Economics, Randy E. Barnett
Post-Chicago Law And Economics, Randy E. Barnett
Georgetown Law Faculty Publications and Other Works
This is not another "law-and-econ" bashing symposium. Nor is the symposium's title intended to denigrate Chicago School law and economics any more than the term "Post-Keynesian economics" was intended to denigrate the work of John Maynard Keynes. Instead, this symposium marks the fact that many practitioners of law and economics have moved well beyond the stereotypes familiar to most legal academics. Rather than designating an entirely new school of thought, the term "Post-Chicago law and economics" refers to a new era in which a variety of new questions about law and lawmaking is being asked and a variety of promising …