Law Commons^™

The Social And Political Challenge Of Inflation: An Economist's View, Harold T. Shapiro

University of Michigan Journal of Law Reform

This Special Issue of the Journal of Law Reform has been nourished, at least in an emotional sense, by this same concern. The editors of the Journal apparently share the widespread frustration regarding what seem to increasing numbers of citizens as the largely intractable nature of the country's current economic ills. There is a certain apprehension that we may not be able to develop solutions to our lagging productivity, to our continuing inflation and unemployment, to our energy "problem," or to a host of other "economic" issues currently outstanding on the national agenda: unemployment of young people and minorities, environmental …

Preface, Journal Of Law Reform

University of Michigan Journal of Law Reform

This Special Issue of the Journal of Law Reform explores the relationship between law and a troubled United States economy. Persistent inflation, declining productivity, plant closings in basic industries, and a host of other economic ills have forced the legal system to respond in at least two fundamental ways. First, the law has been called upon to solve economic crises. Wage-price controls and aggressive antitrust enforcement present two examples of this more activist role. Secondly, the law has had to adapt to a fluctuating economic landscape. In areas such as antitrust, pension, and bankruptcy law, courts and legislatures have had …

Tax-Based Incomes Policy (Tip) As A Alternative To Wage And Price Controls, Steven R. Hunsicker

University of Michigan Journal of Law Reform

Part I of this article will evaluate the major arguments opposing such policies against the background of the recent American experience with wage and price controls. Part II, in light of the applicability of these arguments to TIPs, will consider whether some variant of TIP could realize the claimed benefits while minimizing the economic and administrative costs usually associated with wage and price controls.

Failing Companies And The Antitrust Laws, Janet L. Mcdavid

University of Michigan Journal of Law Reform

This article will examine two areas in which the courts have given financially-troubled companies special treatment under the antitrust laws. Part I discusses the acquisition of a failing company, which may constitute a judicially-created exemption from section 7 of the Clayton Act. Part II considers certain cases involving failing companies whose conduct is challenged under section 1 of the Sherman Act.

Antitrust Law, Competition, And The Macroeconomy, Peter C. Carstensen

University of Michigan Journal of Law Reform

This article examines the links between antitrust law-one possible tool for dealing with economic ills-and macroeconomic structure. It analyzes the current policy and economic assumptions underlying the importance of antitrust enforcement in reaching a healthy, competitive economy and concludes that such enforcement does contribute to the increased effectiveness of macroeconomic tools.

Part I explores the current macroeconomic theories and their policy implications. Part II discusses the related concepts of market power and competition and concludes that dissipation of market power is preferable, but that the regulation of market power may yield significant social and economic benefits in the short run, …

Advance Notice Of Plant Closings: Toward National Legislation, Joseph A. Cipparone

University of Michigan Journal of Law Reform

This article advocates the adoption of national legislation requiring advance notice for plants closed or relocated for ostensibly economic reasons. Part I discusses the magnitude of the plant closing problem, focusing upon the costs associated with such closings, the types of assistance available for terminated workers, and the inadequacies of current relief efforts. Parts II and III examine the arguments for and against requiring advance notice of plant closings, and conclude that such a requirement represents sound public policy. Part IV proposes a complete model advance notice statute. The model statute establishes minimum requirements for a viable advance notice system, …