Law Commons^™

Medicine As A Public Calling, Nicholas Bagley

Michigan Law Review

The debate over how to tame private medical spending tends to pit advocates of government-provided insurance—a single-payer scheme—against those who would prefer to harness market forces to hold down costs. When it is mentioned at all, the possibility of regulating the medical industry as a public utility is brusquely dismissed as anathema to the American regulatory tradition. This dismissiveness, however, rests on a failure to appreciate just how deeply the public utility model shaped health law in the twentieth century— and how it continues to shape health law today. Closer economic regulation of the medical industry may or may not …

The Endowment Effect In Ip Transactions: The Case Against Debiasing, Ofer Tur-Sinai

Michigan Telecommunications & Technology Law Review

This Article contains a critical discussion of recent studies by Christopher Buccafusco and Christopher Sprigman concerning the role of the endowment effect in intellectual property transactions. According to the thesis presented in these studies, the existence of an endowment effect in the markets for IP goods causes inefficiencies. In order to counteract such inefficiencies, the authors argue, IP rights must be weakened in various ways, including shifting toward liability rules, adding formalities in copyright law, and expanding the fair use doctrine. The thesis as presented is groundbreaking and would have broad implications. This Article, however, points out several shortcomings of …

Antitrust Policy After Chicago, Herbert Hovenkamp

Michigan Law Review

This article begins with the premise that nothing - not even an intellectual structure as imposing as the Chicago School - lasts forever. In fact, a certain amount of stagnation is already apparent. Most of the creative intellectual work of the Chicago School has already been done - done very well, to be sure. The new work too often reveals the signs of excessive self-acceptance, particularly of quiet acquiescence in premises that ought to be controversial.

Today the cutting edge of antitrust scholarship is coming, not from protagonists of the Chicago School, but rather from its critics. The critics began …

Import Restraints And Industrial Performance: The Dilemma Of Protectionism, Walter Adams

Michigan Journal of International Law

It is the thesis of this article that the remedies for the import problem-- quotas, orderly marketing agreements, trigger price systems, and the like-do not provide adequate mechanisms for insuring acceptable industry performance or protecting the public interest. Instead of compelling--or even promoting-the kind of structural and behavioral changes which are imperative if an industry is to overcome its competitive infirmities, these protectionist devices, more often than not, are likely to have precisely the opposite effect, i.e., perpetuate the very infirmities that caused the industry's plight to begin with. In short, an ailing organism is not prepared for the …