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Full-Text Articles in Law
The Need For A Law Of Church And Market, Nathan B. Oman
The Need For A Law Of Church And Market, Nathan B. Oman
Nathan B. Oman
This Essay uses Helfand and Richman’s fine article to raise the question of the law of church and market. In Part I, I argue that the question of religion’s proper relationship to the market is more than simply another aspect of the church-state debates. Rather, it is a topic deserving explicit reflection in its own right. In Part II, I argue that Helfand and Richman demonstrate the danger of creating the law of church and market by accident. Courts and legislators do this when they resolve questions religious commerce poses by applying legal theories developed without any thought for the …
Markets As A Moral Foundation For Contract Law, Nathan B. Oman
Markets As A Moral Foundation For Contract Law, Nathan B. Oman
Nathan B. Oman
No abstract provided.
Doux Commerce, Religion, And The Limits Of Antidiscrimination Law, Nathan B. Oman
Doux Commerce, Religion, And The Limits Of Antidiscrimination Law, Nathan B. Oman
Nathan B. Oman
Recent cases involving religious businesses owners who object to providing services for same-sex weddings and resulting lawsuits have generated a vigorous academic and popular debate. That debate centers in part on the proper role of religion in the market. This article develops three theories of the proper relationship between commerce and religion and applies them to these conflicts. The first approach would apply the norms of liberal democratic governments to market actors. The second approach posits that any market outcome is legitimate so long as it results from voluntary contracts. These approaches yield contradictory and indeterminate advice on the conflicts …
Resolving Economic Disputes In Russia's Market Economy, Karen Halverson
Resolving Economic Disputes In Russia's Market Economy, Karen Halverson
Karen Halverson Cross
The purpose of this paper is to examine the recent transformation of state arbitrazh into economic courts along with the development of commercial arbitration in Russia, and to consider the relative utility of these mechanisms for resolving disputes in Russia's evolving market economy. Part I describes state arbitrazh and details its evolution into the existing system of economic courts. Part II discusses the past and recent development of commercial arbitration in Russia as an alternative to litigating domestic disputes. Part III considers various social and historic factors that hinder genuine reform.
More Information, More Ripoffs: Experiments With Public And Private Information In Markets With Asymmetric Information, Bart Wilson
Bart J Wilson
No abstract provided.
Forward: Advances In The Behavioral Analysis Of Law: Markets, Institutions, And Contracts, Avishalom Tor
Forward: Advances In The Behavioral Analysis Of Law: Markets, Institutions, And Contracts, Avishalom Tor
Avishalom Tor
No abstract provided.
Emissions Trading Schemes: Markets, States And Law, Sanja Bogojevic
Emissions Trading Schemes: Markets, States And Law, Sanja Bogojevic
Sanja Bogojević
Over the past four decades emissions trading schemes have enjoyed a high profile in environmental law scholarship and environmental law and policy. Much of this regulatory discussion has promoted the use of emissions trading on the basis of its alleged straightforwardness in terms of construction and operation and wide applicability across different jurisdictions and environmental settings. This book challenges the common understanding of emissions trading by offering a more nuanced prism through which to view this regulatory choice. As such, it shows how different regulatory goals are entrusted to emissions trading, each having as its corollary particular governance structures, which, …
Google Law?, F.E. Guerra-Pujol
Google Law?, F.E. Guerra-Pujol
F.E. Guerra-Pujol
In this paper, we discuss the details of our proposed "Google law" or "turing trial" experiment and offer a tentative proof of concept for our alternative model for trying cases and resolving disputes; that is, we tentatively specify the conditions under which our alternative model of justice would work in practice. In addition, we assume the role of a justice entrepreneur and propose the creation of a competitive justice market in place of state-owned courts and the existing government monopoly over the supply of justice. To this end, we explain why a competitive market for justice is not only feasible …
Law, Development And The Socio-Economic Rights Of Chinese Women, Margaret Woo
Law, Development And The Socio-Economic Rights Of Chinese Women, Margaret Woo
Margaret Y. K. Woo
How has the complex interaction of markets, law and development added or subtracted to the well-being of ordinary Chinese citizen? Specifically, this article examines how the development of a private market and accompanying legal structure resulted in Chinese women’s greater sense of rights entitlement and rights assertion. But abstract rights and the implementation of legal codes do not always mean rights adoption and neither does formal equality always translate into substantive equality. Through an analysis of 64 questionaires collected from legal aid litigants collected between the fall of 2002 and spring of 2003. The questionnaires unravel the complicated legal attitudes …
Where Did Mill Go Wrong?: Why The Capital Managed Firm Rather Than The Labor Managed Enterprise Is The Predominant Organizational Form In Market Economies, Justin Schwartz
Justin Schwartz
In this Article, I propose a novel law and economics explanation of a deeply puzzling aspect of business organization in market economies. Why are virtually all firms are organized as capital managed and owned (capitalist) enterprises rather than as labor managed and owned cooperatives? Over 150 years ago, J.S. Mill predicted that efficiency and other advantages would eventually make worker cooperatives predominant over capitalist firms. Mill was right about the advantages but wrong about the results. The standard explanation is that capitalist enterprise is more efficient. Empirical research, however, overwhelmingly contradicts this. But employees almost never even attempt to organize …
The Federal Reserve We Need: It’S The Fed We Once Had, Timothy A. Canova
The Federal Reserve We Need: It’S The Fed We Once Had, Timothy A. Canova
Timothy A. Canova
This article considers the empirical record of the 1942-1951 period of Federal Reserve history when the Fed was more politically accountable and more independent of private financial interests. During the 1940s, federal spending was nearly twice as high as today, and federal borrowing was more than three times higher. Yet, from 1942 to 1951, the Federal Reserve was directed by the White House and Treasury to peg interest rates at 3/8 of one percent on short-term Treasury borrowing and 2.0 to 2.5 percent on long-term borrowing. The U.S. economy grew at a real annual rate of 15 to 20 percent …
Government Prediction Markets: Why, Who, And How, Tom W. Bell
Government Prediction Markets: Why, Who, And How, Tom W. Bell
Tom W. Bell
This paper describes how prediction markets can make governments smarter, cheaper, and more responsive to changing conditions. A prediction market resembles a stock exchange where traders buy and sell not shares of companies, but claims about future events. Academic and commercial use of prediction markets suggests that they offer a useful tool for encouraging, collecting, and quantifying widely scattered expertise. Government administrators have begun experimenting with prediction markets, too. Many questions remain, however, about the proper way to implement government prediction markets. This paper opens with a brief survey of the costs and benefits of government prediction markets. It then …
Essay: The Curious Case Of Greening In Carbon Markets, James Salzman, William Boyd
Essay: The Curious Case Of Greening In Carbon Markets, James Salzman, William Boyd
James Salzman
Over the last several years, so-called “carbon markets” have emerged around the world. These markets trade different types of greenhouse gas credits. In this essay, we take a close look at an unexpected and unprecedented development – premium “green” currencies have emerged alongside and even displaced standard compliance currencies. Past experiences with other environmental compliance markets, such as the sulfur dioxide and wetlands mitigation markets, suggest the exact opposite should be occurring. Indeed, buyers in such markets should only be interested in buying compliance, not in the underlying environmental integrity of the compliance unit. In carbon markets, however, higher quality …
“We, The Paparazzi”: Developing A Privacy Paradigm For Digital Video, Jacqueline Lipton
“We, The Paparazzi”: Developing A Privacy Paradigm For Digital Video, Jacqueline Lipton
Jacqueline D Lipton
In January 2009, the Camera Phone Predator Alert bill was introduced into Congress. It raised serious concerns about privacy rights in the face of digital video technology. In so doing, it brought to light a worrying gap in current privacy regulation – the lack of rules relating to digital video privacy. To date, digital privacy regulation has focused on text records that contain personal data. Little attention has been paid to privacy in video files that may portray individuals in inappropriate contexts, or in an unflattering or embarrassing light. As digital video technology, including inexpensive cellphone cameras, is now becoming …
Financial Market Failure As A Crisis In The Rule Of Law: From Market Fundamentalism To A New Keynesian Regulatory Model, Timothy A. Canova
Financial Market Failure As A Crisis In The Rule Of Law: From Market Fundamentalism To A New Keynesian Regulatory Model, Timothy A. Canova
Timothy A. Canova
This article considers the financial panic of 2008 in historical context by analyzing the institutional and regulatory factors that contributed to the financial and economic crisis. The move away from a Keynesian regulatory model was a function of larger institutional flaws. The Keynesian regime of command-and-control regulation focused on macroeconomic policy objectives designed to achieve full employment, more equitable distributions of wealth and income, greater transparency in the regulatory process, and reduction in monopoly exploitation of consumers. Central to this regime was a model of central banking that required greater accountability to elected branches of government and the use of …
Lincoln’S Populist Sovereignty: Public Finance Of, By, And For The People, Timothy A. Canova
Lincoln’S Populist Sovereignty: Public Finance Of, By, And For The People, Timothy A. Canova
Timothy A. Canova
This article considers Lincoln’s system of public finance in a broad historical perspective. In the weeks prior to Lincoln‘s inauguration, the financial markets were swept by panic, the hoarding of gold, and a crisis perhaps more dangerous than other classic Keynesian liquidity traps, such as in March 1933 and September 2008. In 1861, there was no central bank with the authority to issue currency and inject liquidity into the financial system to try to restrain the psychology of hoarding. The Lincoln administration was able to break the downward spiral and provide the resources to mobilize for war, as well as …
Show Me The Money: Making Markets In Forbidden Exchange, Kimberly D. Krawiec
Show Me The Money: Making Markets In Forbidden Exchange, Kimberly D. Krawiec
Kimberly D. Krawiec
As your parents doubtless told you, money can’t buy everything. Nearly all cultures reserve certain items, activities, and entitlements as inalienable for profit. It would be incorrect to assume, however, that the individual mental accounting, social norms, and laws regarding the proper scope of commercial activity are universal, preordained, or inflexible. In fact, researchers across disciplines have demonstrated both the malleability and context-dependency of individual mental accounting, and the socially constructed nature of relational boundaries and the accepted means of exchange within them, which vary across time and cultures. Moreover, technological innovation, social or political change, or other developments may …
An Experimental Analysis Of The Effects Of Automated Mitigation Procedures On Investment And Prices In Wholesale Electricity Markets, Bart Wilson, Lynne Kiesling
An Experimental Analysis Of The Effects Of Automated Mitigation Procedures On Investment And Prices In Wholesale Electricity Markets, Bart Wilson, Lynne Kiesling
Bart J. Wilson
No abstract provided.
Spam Works: Evidence From Stock Touts And Corresponding Market Activit, Jonathan Zittrain
Spam Works: Evidence From Stock Touts And Corresponding Market Activit, Jonathan Zittrain
Jonathan Zittrain
We assess the impact of spam that touts stocks upon the trading activity of those stocks and sketch how profitable such spamming might be for spammers and how harmful it is to those who heed advice in stock-touting e-mails. We find convincing evidence that stock prices are being manipulated through spam. We suggest that the effectiveness of spammed stock touting calls into question prevailing models of securities regulation that rely principally on the proper labeling of information and disclosure of conflicts of interest as means of protecting consumers, and we propose several regulatory and industry interventions. Based on a large …