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Full-Text Articles in Law
Economics And The Environment: Trading Debt And Technology For Nature, Catherine O'Neill, Cass R. Sunstein
Economics And The Environment: Trading Debt And Technology For Nature, Catherine O'Neill, Cass R. Sunstein
Faculty Articles
In this article, Professor O’Neill and Professor Sunstein first explore and suggest improvements in current debt-for-nature swaps, with the ultimate aim of defending the use of economic incentives and Paretian principles in the context of international environmental policy. Second, they examine some of the limitations of the exchange of debt for nature, and thus suggest an alternative exchange that overcomes those limitations. The exchange they envision is quite simple. Developed nations would transfer to developing nations environmentally advanced technologies, particularly technologies designed to increase efficient energy use or to replace non-renewable sources with renewable sources of energy. In return, developing …
Opting In And Out Of Fiduciary Duties In Cooperative Ventures: Refining The So-Called Coasean Contract Theory, Charles O'Kelley
Opting In And Out Of Fiduciary Duties In Cooperative Ventures: Refining The So-Called Coasean Contract Theory, Charles O'Kelley
Faculty Articles
Professor O’Kelley comments on a familiar problem in the law of closely held business associations - the alleged exploitation of weaker or minority investors by stronger or majority participants. The fact pattern is simple. At the outset of the cooperative venture, a stronger participant assumes the role of proprietor, partner, or majority shareholder, while the weaker participant assumes the role of agent, partner, or minority shareholder. For whatever reason, the venturers do not explicitly guarantee or protect the weaker participant’s right to income or continued participation in the venture. Consequently, at some later date the stronger participant reduces or eliminates …
A Modern Proposal, Sidney Delong
A Modern Proposal, Sidney Delong
Faculty Articles
This article humorously explains Jonathan Swift’s intention when he wrote “A Modest Proposal for Preventing the Children of Ireland from Being a Burden to Their Parents or Country.” Swift was not writing satirically, his analysis was purely written from an economic standpoint as was Landes and Posner’s modern proposal. Landes and Posner recognized the allocative efficiencies and wealth gains that can be realized when property rights are created in noncommodities, such as people, as did Jonathan Swift.