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Articles 31 - 54 of 54
Full-Text Articles in Law
Reducing Carbon Emissions From The Developing World Through Compensated Moratoria: Ecuador’S Yasuní Initiative And Beyond, Thomas M. Gremillion
Reducing Carbon Emissions From The Developing World Through Compensated Moratoria: Ecuador’S Yasuní Initiative And Beyond, Thomas M. Gremillion
Thomas M Gremillion
This articles suggests that a proposed alternative for reducing greenhouse gas (GHG) emissions—paying developing countries to forego fossil fuel exploitation in tropical forests, or “compensated moratoria”—could serve an important role in future climate change regulation. The article details Ecuador’s proposal to impose a moratorium on oil exploration in the Amazon rainforest—the Yasuní Initiative—and looks at the implications for broader climate change policy. The article briefly explores the shortcomings of prevailing policy mechanisms for mitigating GHG emissions in developing countries, and discusses how compensated moratoria could help to improve on these shortcomings. The article concludes that compensated moratoria should receive serious …
The Evolution Of Regulation: 20th Century Lessons And 21st Century Opportunities, John W. Mayo
The Evolution Of Regulation: 20th Century Lessons And 21st Century Opportunities, John W. Mayo
John W Mayo
Abstract: Reflections on the evolution of regulatory policies over the past half-century afford the ability to not only identify important drivers to this evolution, but also to identify elements of regulation and deregulation that have been most successful in practice. The common element of these successes has been that they are "results-based." Based on these successes, this paper develops a model of "results-based regulation" through the identification of a set of principles that can used to guide 21st century regulatory practice. A consideration of regulation in the modern telecommunications industry serves as a proof of concept for the model of …
The Global Shadow Bank--Systemic Risk And Tax Policy Objectives: The Uncertain Case Of Foreign Hedge Fund Lending In The United States, Julie A.D. Manasfi
The Global Shadow Bank--Systemic Risk And Tax Policy Objectives: The Uncertain Case Of Foreign Hedge Fund Lending In The United States, Julie A.D. Manasfi
Julie A.D. Manasfi
ABSTRACT: THE GLOBAL SHADOW BANK-- SYSTEMIC RISK AND TAX POLICY OBJECTIVES: THE UNCERTAIN CASE OF FOREIGN HEDGE FUND LENDING IN THE UNITED STATES With the recent financial crisis in the U.S. starting in 2007, much attention has been drawn to the issue of whether and to what extent financial regulation should keep pace with financial innovation and the shadow banking system. However, often ignored is the Internal Revenue Code’s failure to adequately keep pace with this financial innovation. One example of how the tax laws lag behind financial innovation can be found in the taxation of lending into the U.S. …
Republican Revolutionaries And Tea Party Patriots: A Public Choice Analysis Of Congressional Term Limits, Keith J. Larson Jd
Republican Revolutionaries And Tea Party Patriots: A Public Choice Analysis Of Congressional Term Limits, Keith J. Larson Jd
Keith J Larson JD
James Madison warned that constitutional amendments rooted in the fleeting passions of the people, not their prudence, could undermine the stability of the Republic. Yet, between 1990 and 1994, short-lived anti-incumbent sentiment stirred the voters of twenty-two states to amend their constitutions by imposing term limits on members of Congress. Many legal scholars consider it to be the largest grassroots movement in recent American history. Then, in 1995, a narrow five to four majority of the United States Supreme Court derailed the movement, holding that state-initiated term limits are unconstitutional. The movement appeared to have lost its momentum until it …
Transparent And Commercialized?: Managing The Public-Private Model For Data Production And Use, Shubha Ghosh
Transparent And Commercialized?: Managing The Public-Private Model For Data Production And Use, Shubha Ghosh
Shubha Ghosh
This Article examines the relationship between two trends: the move towards transparency in government data and information and the increasing commercialization of data through social network and other sites. The author presents a normative framework for reconciling these two trends, analyzes the legal implications of this normative framework, and examines three case studies: the private use of government real estate assessment records, the creation of websites like data.gov, and governmental protection of databases. The Article concludes with a proposal for an open source licensing model for data and information.
Credit Card Ills: Reducing Racial Disparities In Debt, Andrea Freeman
Credit Card Ills: Reducing Racial Disparities In Debt, Andrea Freeman
Andrea Freeman
Credit card debt, particularly in conjunction with the subprime lending crisis and severe economic recession, jeopardizes the ability of many African American and Latino households to maintain financial viability. The credit card industry’s business model relies on the payment of fees and high interest rates by the poorest consumers to generate profits and subsidize credit card use by the richest. Documented racial disparities in credit card debt represent and perpetuate structural inequities that require regulatory intervention. Both increased consumer protection and structural reform are necessary to reduce credit card debt disparities arising from present and past discrimination and subordination. The …
The Role Of Individual Substantive Rights In A Constitutional Technocracy, Abigail R. Moncrieff
The Role Of Individual Substantive Rights In A Constitutional Technocracy, Abigail R. Moncrieff
Abigail R. Moncrieff
This article presents a novel theory of substantive constitutional rights and of the role that they play in an increasingly technocratic legal world. The central descriptive assertion is that substantive rights serve as presumptions in favor of private ordering, which protect a limited set of regulatory regimes from technocratic tinkering, and that the characteristic that defines the set of protected regimes is a high degree of economic and moral uncertainty. Decisions to engage in speech, religion, association, reproduction, and parenting—the decisions that receive substantive constitutional protection under modern doctrine—are decisions that are of unusually uncertain individual and social value. The …
Beyond The Board Of Directors, Kelli A. Alces
Beyond The Board Of Directors, Kelli A. Alces
Kelli A. Alces
The law of corporate governance places the board of directors at the top of the corporate decisionmaking structure. So, accountability for corporate decisions rests primarily on the shoulders of part-time employees who lack the time and thorough knowledge of the firm necessary to perform the board’s duties effectively. Corporate governance scholarship is similarly preoccupied with the board of directors. Scholars have debated whether to enhance or diminish the board’s authority within the firm, but all accept that a board of directors should preside over corporate decisionmaking. This Article argues that scholars on both sides of the debate have missed the …
Does Tort Law Deter?, W. Jonathan Cardi, Randy Penfield, Albert H. Yoon
Does Tort Law Deter?, W. Jonathan Cardi, Randy Penfield, Albert H. Yoon
W. Jonathan Cardi
For nearly four decades, economic analysis has dominated academic discussion of tort law. Courts also have paid increasing attention to the potential deterrent effects of their tort decisions. But at the center of each economic model and projection of cost and benefit lies a widely-accepted but grossly under-tested assumption that tort liability in fact deters tortious conduct. This article reports the results of a behavioral science study that tests this assumption as it applies to individual conduct. Surveying over 700 first-year law students, the study presented a series of vignettes, asking subjects to rate the likelihood that they would engage …
Reconsidering The Separation Of Banking And Commerce, Mehrsa Baradaran
Reconsidering The Separation Of Banking And Commerce, Mehrsa Baradaran
Mehrsa Baradaran
This Article examines the long-held belief that banking and commerce need to be kept separate in order to ensure a stable banking system. Specifically, the Article criticizes the Bank Holding Company Act (BHCA), which prohibits non-banking entities from owning banks. The recent banking collapse has caused and exacerbated several problematic trends in U.S. banking, especially the conglomeration of banking entities and the homogenization of assets. The inflexible and outdated provisions of the BHCA are a major cause of this movement toward conglomeration and homogenization. Since the enactment of the BHCA, the landscape of U.S. banking has changed dramatically. The strict …
Derivatives: A Twenty-First Century Understanding, Timothy E. Lynch
Derivatives: A Twenty-First Century Understanding, Timothy E. Lynch
Timothy E. Lynch
Derivatives are commonly defined as some variation of the following: a financial instrument whose value is derived from the performance of a secondary source such as an underlying bond, commodity or index. But this definition is both over-inclusive and under-inclusive. Thus, not surprisingly, derivatives are largely misunderstood, including by many policy makers, regulators and legal analysts. It is important for interested parties such as policy makers to understand derivatives, because the types and uses of derivatives have exploded in the last few decades, and because these financial instruments can provide both social benefits and cause social harms. This Article presents …
Gambling By Another Name? The Challenge Of Purely Speculative Derivatives, Timothy E. Lynch
Gambling By Another Name? The Challenge Of Purely Speculative Derivatives, Timothy E. Lynch
Timothy E. Lynch
Derivatives contracts can be used to hedge pre-existing risks, but they can also be used to speculate. This Article focuses on derivatives contracts in which both counterparties are speculators. These “purely speculative derivatives (PSD) contracts” have become increasingly common over the last several years and have notably resulted in the transfer of many tens of billions of dollars from institutions that had invested in the US subprime housing market to a handful of speculators who foresaw the market’s collapse, as well as many billions of dollars in fees to PSD brokers. PSD contracts are problematic. PSD contracts are less-than-zero-sum transactions …
Credit Card Ills: Reducing Racial Disparities In Debt, Andrea Freeman
Credit Card Ills: Reducing Racial Disparities In Debt, Andrea Freeman
Andrea Freeman
Credit card debt, particularly in conjunction with the subprime lending crisis and severe economic recession, jeopardizes the ability of many African American and Latino households to maintain financial viability. The credit card industry’s business model relies on the payment of fees and high interest rates by the poorest consumers to generate profits and subsidize credit card use by the richest. Documented racial disparities in credit card debt represent and perpetuate structural inequities that require regulatory intervention. Both increased consumer protection and structural reform are necessary to reduce credit card debt disparities arising from present and past discrimination and subordination. The …
Credit Card Ills: Reducing Racial Disparities In Debt, Andrea Freeman
Credit Card Ills: Reducing Racial Disparities In Debt, Andrea Freeman
Andrea Freeman
Credit card debt, particularly in conjunction with the subprime lending crisis and severe economic recession, jeopardizes the ability of many African American and Latino households to maintain financial viability. The credit card industry’s business model relies on the payment of fees and high interest rates by the poorest consumers to generate profits and subsidize credit card use by the richest. Documented racial disparities in credit card debt represent and perpetuate structural inequities that require regulatory intervention. Both increased consumer protection and structural reform are necessary to reduce credit card debt disparities arising from present and past discrimination and subordination. The …
Beyond The Board Of Directors, Kelli A. Alces
Beyond The Board Of Directors, Kelli A. Alces
Kelli A. Alces
The law of corporate governance places the board of directors at the top of the corporate decisionmaking structure. So, accountability for corporate decisions rests primarily on the shoulders of part-time employees who lack the time and thorough knowledge of the firm necessary to perform the board’s duties effectively. Corporate governance scholarship is similarly preoccupied with the board of directors. Scholars have debated whether to enhance or diminish the board’s authority within the firm, but all accept that a board of directors should preside over corporate decisionmaking. This Article argues that scholars on both sides of the debate have missed the …
Beyond The Board Of Directors, Kelli A. Alces
Beyond The Board Of Directors, Kelli A. Alces
Kelli A. Alces
The law of corporate governance places the board of directors at the top of the corporate decisionmaking structure. So, accountability for corporate decisions rests primarily on the shoulders of part-time employees who lack the time and thorough knowledge of the firm necessary to perform the board’s duties effectively. Corporate governance scholarship is similarly preoccupied with the board of directors. Scholars have debated whether to enhance or diminish the board’s authority within the firm, but all accept that a board of directors should preside over corporate decisionmaking. This Article argues that scholars on both sides of the debate have missed the …
Beyond The Board Of Directors, Kelli A. Alces
Beyond The Board Of Directors, Kelli A. Alces
Kelli A. Alces
The law of corporate governance places the board of directors at the top of the corporate decisionmaking structure. So, accountability for corporate decisions rests primarily on the shoulders of part-time employees who lack the time and thorough knowledge of the firm necessary to perform the board’s duties effectively. Corporate governance scholarship is similarly preoccupied with the board of directors. Scholars have debated whether to enhance or diminish the board’s authority within the firm, but all accept that a board of directors should preside over corporate decisionmaking. This Article argues that scholars on both sides of the debate have missed the …
Private Ordering In Light Of The Law: Achieving Consumer Protection Through Payment Card Security Measures, Edward A. Morse
Private Ordering In Light Of The Law: Achieving Consumer Protection Through Payment Card Security Measures, Edward A. Morse
Edward A. Morse
A private ordering regime has developed within the payment card industry to define appropriate security practices and to monitor compliance by network participants. Market demands for trustworthy systems upon which consumers and merchants could rely provide incentives for security, which are supplemented by privately-designed fines and sanctions imposed through contract by the card brands. Although private ordering has functioned sufficiently well to make payment cards a trusted payment method, the system is not completely secure, as data security breaches have continued to occur. This is not surprising, as complete security is not a feasible goal. Nevertheless, some have questioned whether …
Predicting Violence, Shima Baradaran
Predicting Violence, Shima Baradaran
Shima Baradaran
The last several years have seen a marked rise in state and federal pretrial detention rates. There has been very little scholarly analysis of whether increased detention is reducing crime, and the discussion that has taken place has largely relied on small scale local studies with conflicting results. This article asks whether the United States is making substantially mistaken judgments about who is likely to commit crimes while on pretrial release and whether we are detaining the right people. Relying on the largest dataset of pretrial defendants in the U.S., this article determines what factors, if any, are relevant in …
Corruption As Institution In Niger's Business Sector, Thomas A. Kelley Iii
Corruption As Institution In Niger's Business Sector, Thomas A. Kelley Iii
Thomas A Kelley III
Suddenly it seems that US-funded international aid programs are all about building rational, predictable institutions to stimulate business in poor countries. The Millennium Challenge Corporation (MCC), a relatively new and increasingly important US aid organization, and the more venerable United States Agency for International Development (USAID), are initiating programs in poor countries around the world based on the assumption that their future stability and prosperity depends on unleashing and guiding the entrepreneurial spirit of small and medium-sized enterprises, and that this can be accomplished by improving the institutions – most particularly the laws and legal enforcement mechanisms – that regulate …
“Globalization Of Islamic Finance: Myth Or Reality?”, Frederick V. Perry
“Globalization Of Islamic Finance: Myth Or Reality?”, Frederick V. Perry
Frederick V. Perry
“ Globalization of Islamic Finance: Myth or Reality?” This paper investigates the question of whether the phenomenon of Islamic finance or Islamic Banking 1 is truly globalizing, that is, spreading as a universal alternative to conventional finance and banking or whether the proponents of such a view are spreading a myth or are themselves simply deluded by their own enthusiasm. The paper addresses various aspects of the globalization of Islamic finance, among others, the issue of the rise of Islamic banking in the West, Islamic jurisprudence and finance, global standards and integration of Islamic finance, and obstacles facing Islamic finance’s …
Deferred Prosecution Agreements: Prosecutorial Balance In Times Of Economic Meltdown, Sharon Oded
Deferred Prosecution Agreements: Prosecutorial Balance In Times Of Economic Meltdown, Sharon Oded
Sharon Oded
At times when the American economy faces enormous challenges, traditional prosecutorial measures that involve high public spending and immense collateral risks may hamper economic recovery. Economic meltdowns, such as the one we have been experiencing in recent years, call for a refreshment of the prosecutorial toolkit aimed at controlling corporate misconduct. This paper discusses the newly emerged enforcement mechanism, Deferred Prosecution Agreements (DPAs), in light of the current national goal of economic recovery. It portrays the evolution of DPAs and the stimulus for its expansion that followed recent Corporate America scandals. Based on the evaluation of the major promises and …
American Biglaw Lawyers And The Schools That Produce Them: A Profile And Rankings, Paul Oyer, Scott Schaefer
American Biglaw Lawyers And The Schools That Produce Them: A Profile And Rankings, Paul Oyer, Scott Schaefer
Paul Oyer
We profile the lawyers that work at the largest 300 American law firms as of the Summer of 2008. We show how gender, years of experience, prestige of law school, and other qualities vary across lawyers of different rank and firms of different prestige. Geography is an important determinant of where lawyers work, with many going to undergraduate school and law school near where they ultimately practice. Geography is less important, however, at more prestigious firms and for graduates of higher ranked firms. We then go on to rank law firms based on the prestige of the law schools they …
Can The Success Of Carbon Emission Cap-And-Trade Market Be Predicted Based On The Epa’S Acid Rain Program?, Parisa S. Smith
Can The Success Of Carbon Emission Cap-And-Trade Market Be Predicted Based On The Epa’S Acid Rain Program?, Parisa S. Smith
Parisa S smith
Can the Success of Carbon Emission Cap-and-Trade Market be Predicted Based on the EPA’s Acid Rain Program? This paper explores the carbon market policy solution to the global warming phenomenon. It analyses why the Acid Rain Program (ARP) cap-and-trade model implemented in the U.S., by itself, falls short in achieving similar results for carbon emission control objectives. Toward that end, a comparison is made to analyze why the carbon market differs greatly from the acid rain market on certain essential elements, and how these differences can explain the expected differing outcomes of implementing the cap-and-trade scheme within the two problem …