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Full-Text Articles in Law
The Fair Use Doctrine: Markets, Market Failure And Rights Of Use, Wendy J. Gordon
The Fair Use Doctrine: Markets, Market Failure And Rights Of Use, Wendy J. Gordon
Faculty Scholarship
Markets are most acceptable when they serve efficiency and other goals. It is only under transaction-costless conditions of perfect knowledge, flawless and cost-free enforcement, full monetization, and instantaneous ability to organize and negotiate, that markets are guaranteed to generate efficient outcomes. And even then, markets could fall short as social tools, because goals other than allocative efficiency may fail to be met.
Selling State Borders, Joseph Blocher
Selling State Borders, Joseph Blocher
Faculty Scholarship
Sovereign territory was bought and sold throughout much of American history, and there are good reasons to think that an interstate market for borders could help solve many contemporary economic and political problems. But no such market currently exists. Why not? And could an interstate market for sovereign territory help simplify border disputes, resolve state budget crises, respond to exogenous shocks like river accretion, and improve democratic responsiveness? Focusing on the sale of borders among American states, this Article offers constitutional, political, and ethical answers to the first question, and a qualified yes to the second.