Law Commons^™

The Post-Chicago Antitrust Revolution: A Retrospective, Christopher S. Yoo

All Faculty Scholarship

A symposium examining the contributions of the post-Chicago School provides an appropriate opportunity to offer some thoughts on both the past and the future of antitrust. This afterword reviews the excellent papers with an eye toward appreciating the contributions and limitations of both the Chicago School, in terms of promoting the consumer welfare standard and embracing price theory as the preferred mode of economic analysis, and the post-Chicago School, with its emphasis on game theory and firm-level strategic conduct. It then explores two emerging trends, specifically neo-Brandeisian advocacy for abandoning consumer welfare as the sole goal of antitrust and the …

Restoring The Natural Law: Copyright As Labor And Possession, Alfred C. Yen

Alfred C. Yen

In this Article, Professor Yen explores the problems associated with viewing copyright solely as a tool for achieving economic efficiency and advocates for the restoration of natural law to copyright jurisprudence. The Article demonstrates that economics has not been solely responsible for copyright’s development and basic structure, but has rather developed along lines suggested by neutral law, despite modern copyright jurisprudence. The Article considers the consequences of extinguishing copyright’s natural law facets in favor of the blind pursuit of efficiency and concludes by exploring the implications of restoring natural law thinking to copyright jurisprudence.

The Economic Impact Of International Labor Migration: Recent Estimates And Policy Implications, Howard F. Chang

All Faculty Scholarship

In this essay, I survey the economic theory and the most recent empirical evidence of the economic impact of international labor migration. Estimates of the magnitude of the gains that the world could enjoy by liberalizing international migration indicate that even partial liberalization would not only produce substantial increases in the world’s real income but also improve its distribution. The gains from liberalization would be distributed such that if we examine the effects on natives in the countries of immigration, on the migrants, and on those left behind in the countries of emigration, we find that each group would enjoy …

Pre-Conference Statement For The Session On: “Lessons In Water Allocation: Roles For Government And Markets", Charles Howe, Helen Ingram

Allocating and Managing Water for a Sustainable Future: Lessons from Around the World (Summer Conference, June 11-14)

23 pages.

Contains references (page 23).

Economic Efficiency And/Or Political Innovation? Institutions And Markets In Trans-Boundary Water Management: Lessons From Lake Constance, Joachim Blatter

Allocating and Managing Water for a Sustainable Future: Lessons from Around the World (Summer Conference, June 11-14)

12 pages.

Includes footnotes.

United States V General Dynamics: A Reappraisal, Anthony Wylie

University Avenue Undergraduate Journal of Economics

The purpose of this paper is to examine the reasons behind Material Services’ acquisitions, the reasons why the Government contested the mergers, and how the Government erred in analyzing the case. We wish to show that the combination of the three coal firms—Material Services, Freeman Coal, and United Electric—occurred for reasons of economic efficiency and practicality, not based on any atavistic desire to monopolize and damage social welfare.

The Endangered Species Act—Economic Impacts: The Perception And The Numbers, Jon A. Souder

Biodiversity Protection: Implementation and Reform of the Endangered Species Act (Summer Conference, June 9-12)

13 pages (includes illustrations).

Contains 2 pages of references.

Corporate Governance And Economic Efficiency: When Do Institutions Matter?, Ronald J. Gilson

Faculty Scholarship

Until the 1980s, corporate governance was largely the province of lawyers. It was a world of specific rules – more or less precise statutory requirements governing shareholder meetings, the election of directors, notice requirements and the like – that were essentially unrelated to what corporations actually do. From this perspective, the corporation's productive activity was simply a black box onto which standard governance structures were superimposed with little effect on what took place within. Corporate law was "trivial" or, as Bayless Manning so evocatively portrayed it, simply "great empty corporation statutes – towering skyscrapers of rusted girders internally welded together …

Privatizing Public Lands: A Bad Idea, Scott Lehmann

Challenging Federal Ownership and Management: Public Lands and Public Benefits (October 11-13)

8 pages.

Contains references.

The Regulatory Takings Doctrine: A Critical Overview, J. Peter Byrne

Regulatory Takings and Resources: What Are the Constitutional Limits? (Summer Conference, June 13-15)

15 pages.

A Simple Solution For The Thorny Problem Of Park Protection: Focusing On Alternatives, David Mastbaum

External Development Affecting the National Parks: Preserving "The Best Idea We Ever Had" (September 14-16)

116 pages (includes illustrations).

Contains footnotes and references.

Contains 3 attachments:

1) Article titled, "No Park Is an Island: A Simple Solution for the Thorny Problem of Park Protection," by David Mastbaum, from Resource Law Notes, Natural Resources Law Center.

2) Paper titled, "National Park Service War Work: December 7, 1941 to June 30, 1944" prepared by National Park Service.

3) Paper titled, "An Alternative to the Allen-Warner Valley Energy System: A Technical and Economic Analysis," by The Environmental Defense Fund, July 1980.

The Politics Of The Coase Theorem And Its Relationship To Modern Legal Thought, Donald H. Gjerdingen

Articles by Maurer Faculty

No abstract provided.

The Coase Theorem And The Psychology Of Common-Law Thought, Donald H. Gjerdingen

Articles by Maurer Faculty

The Coase Theorem is a simple proposition-in the absence of transaction costs, a Pareto optimal result will occur regardless of the initial placement of legal liability. Despite this apparent simplicity, however, Coase's economic parable has provoked intense debate in the legal community. Why does the theorem grate on the hardened intuitions of so many lawyers? The thesis of this Article is that a connection exists between the adoption or rejection of a given school of legal thought and the use of certain psychological constructs. Specifically, this Article argues that the constructs underlying the Coase Theorem are incompatible with those underlying …