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From Here To Eternity: The Folly Of Perpetual Trusts, Lawrence W. Waggoner
From Here To Eternity: The Folly Of Perpetual Trusts, Lawrence W. Waggoner
Law & Economics Working Papers
Trusts that can operate for as many as a thousand years or even forever, typically for the benefit of the settlor’s descendants living from time to time, now and in the future, are all the rage in banking and estate-planning circles. Before 1986, when Congress passed the federal generation-skipping transfer tax (GST tax), settlors had little incentive and probably little desire to establish perpetual trusts, even though they were permitted to do so under the law of Wisconsin, South Dakota, or Idaho. The GST tax created an artificial incentive for the wealthy to establish such trusts. The origin of the …
Tesla And The Car Dealers’ Lobby, Daniel A. Crane
Tesla And The Car Dealers’ Lobby, Daniel A. Crane
Law & Economics Working Papers
Tesla Motors, the offspring of the South African-American entrepreneur Elon Musk who also brought us Pay-Pal and SpaceX, is the most exciting automotive development in many decades and a marquee story of American technological dynamism and innovation. The company’s luxury electric cars have caused a sensation in the auto industry, including a review by Consumer Reports calling Tesla’s Model S the best car it ever tested.
Tesla faces enormous challenges in penetrating an automotive market that has been dominated for a century by internal combustion engines. Not only must it build cars that customers want to drive (and, ultimately, produce …