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Full-Text Articles in Law
Predicting The Future Of Employment Law: Reflecting Or Refracting Market Forces?, Stewart J. Schwab
Predicting The Future Of Employment Law: Reflecting Or Refracting Market Forces?, Stewart J. Schwab
Cornell Law Faculty Publications
In this Article I predict how employment law will change in the future. My task is positive rather than normative. I will not argue that the developments I foresee are good ones to be applauded. Rather, they arise "inevitably" from the way the law will react to changes in labor markets.
Of course, as Professor Ronald Dworkin emphasizes, in developing a theory of law one cannot sharply distinguish between the positive and normative. Dworkin points out that even in describing the current legal framework, one must choose what to highlight and what to ignore, a process based on values. When …
Pensions And Passivity, Gregory S. Alexander
Pensions And Passivity, Gregory S. Alexander
Cornell Law Faculty Publications
This article discusses how modem fiduciary law has extended equity's tradition of constructing ownership as passive through the corporate pension system. It examines how the corporate pension system as a mode of owning pooled capital is a new stage of passive ownership. This stage creates a different aspect of the familiar problem of separating control from beneficial ownership. Berle and Means argued that the problem that the separation of control from ownership created was economic. The interests of managers and shareholders in the modern corporation diverge, and, they argued, this divergence diminishes the overall efficiency of the modern economy, dominated …