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Full-Text Articles in Law
The Corporation’S Place In Society, Gabriel Rauterberg
The Corporation’S Place In Society, Gabriel Rauterberg
Michigan Law Review
The vast majority of economic activity is now organized through corporations. The public corporation is usurping the state’s role as the most important institution of wealthy capitalist societies. Across the developed world, there is increasing convergence on the shareholder-owned corporation as the primary vehicle for creating wealth. Yet nothing like this degree of convergence has occurred in answering the fundamental questions of corporate capitalism: What role do corporations serve? What is the goal of corporate law? What should corporate managers do? Discussion of these questions is as old as the institutions involved.
Takings, Efficiency, And Distributive Justice: A Response To Professor Dagan, Glynn S. Lunney Jr.
Takings, Efficiency, And Distributive Justice: A Response To Professor Dagan, Glynn S. Lunney Jr.
Michigan Law Review
In A Critical Reexamination of the Takings Jurisprudence, I addressed an efficiency problem that arises when the government attempts to change property rights in a manner that burdens a very few for the benefit of the very many. Specifically, in the absence of compensation, the collective action advantage of the few in organizing to oppose the proposed measure will often give them a decided edge against the many. As a result of that advantage, the few will too often be able to persuade the legislature not to act, even when an objective evaluation of the proposal's costs and benefits would …
Just Compensation, Incentives, And Social Meanings, Hanoch Dagan
Just Compensation, Incentives, And Social Meanings, Hanoch Dagan
Michigan Law Review
In Takings and Distributive Justice, I proposed a progressive interpretation of the Compensation Clause. In his response, published in this issue, Professor Lunney challenges the plausibility and the desirability of my interpretation and proposes an alternative. This Essay compares our approaches. It concludes that Professor Lunney's careful examination of the public choice analysis of takings does refine my theory. Contrary to Professor Lunney's claims, however, these refinements reinforce - rather than undermine - the viability of a progressive takings doctrine. Parts I and II set the stage by summarizing the principal claims made, respectively, in my original Article and in …
Douglas On Democracy And Finance -- A Review, Arthur A. Ballantine
Douglas On Democracy And Finance -- A Review, Arthur A. Ballantine
Michigan Law Review
A book by a Justice of the Supreme Court of the United States would be important under any circumstances. Such a publication is of special significance when its author is the youngest member of the Court, with many years of service ahead, and is endowed with unusual character, ability and earnestness of purpose. In these days of change such a book supplies valuable insight into the mental processes and attitude that will enter deeply into the shaping of our institutions.