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Full-Text Articles in Law
Inequality In The Twenty-First Century, Saul Levmore
Inequality In The Twenty-First Century, Saul Levmore
Michigan Law Review
Rising inequality in the developed world has become a hot topic, especially in the shadow of the Great Recession in the United States. Social movements (“We are the 99%!”), university courses, documentary films, and best-selling books have capitalized on—and contributed to—the heat. Thomas Piketty’s Capital in the Twenty-First Century, the most significant and probably best received of these books, is provocative, data driven, very French, pessimistic, widely reviewed, admirable, and maddening. In contrast to many other works on inequality, it is organized around a single idea. The thesis predicts growing inequality of wealth in the absence of external shocks or …
Valuing Control, Peter Dicola
Valuing Control, Peter Dicola
Michigan Law Review
Control over property is valuable in and of itself. Scholars have not fully recognized or explored that straightforward premise, which has profound implications for the economic analysis of property rights. A party to a property dispute may actually prefer liability-rule protection for an entitlement resting with the other party to liability-rule protection for an entitlement resting with her. This Article presents a novel economic model that determines the conditions under which that is the case—by taking account of how parties value control. The model suggests new opportunities for policymakers to resolve conflicts and to develop better information about property disputes …