Law Commons^™

Introduction: Access To Healthcare Symposium, Yvonne F. Lindgren

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The four Articles in this Access to Healthcare symposium edition address the different ways that the U.S. healthcare delivery system is failing marginalized communities, including individuals who are disabled, who are birthing, who are women of color or represent another marginalized group, or who live in poverty. The result is a rich conversation that uncovers the complex systems that contribute to unequal access to health care and unjust disparities in health outcomes in the United States.

Why Illinois Should Reevaluate Its Video Tolling (V-Toll) Subsidy, Randall K. Johnson

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Tolls are levies with a limited base. This base is made up of drivers that pay user fees, in cash or via electronic transponder, in exchange for access to state-administered roads. In Illinois, every single toll is a function of three factors: vehicle characteristics, tollway entry point, and how far a driver goes on state-administered roads.

It is commonly assumed that any toll violation, i.e., any failure to pay, results in a traffic ticket, administrative fees and state-imposed sanctions. Such an assumption, however, is only partly true due to overly forgiving Illinois state policies. Examples include the Traffic Ticket Exemption, …

The Problem With Predators, June Carbone, William K. Black

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Both corporate theory and sex discrimination law start with presumptions that CEOs seek to advance legitimate ends and design the internal organization of business enterprises to achieve such ends. Yet, a growing literature questions why CEOs and boards of directors nonetheless select for Machiavellianism, narcissism, psychopathy, and toxic masculinity, despite the downsides associated with these traits. Three scholarly literatures—economics, criminology, and gender theory—draw on advances in psychology to shed new light on the construction of seemingly dysfunctional corporate cultures. They start by questioning the assumption that CEOs—even CEOs of seemingly mainstream businesses—necessarily seek to advance “legitimate” ends. Instead, they suggest …

Community Economic Development Is Access To Justice, Anthony J. Luppino, Scott L. Cummings, Edward W. De Barbieri, Christyne Vachon, Steven Henry Hobbs, Brian Kingsley Krumm, Anika Singh Lemar, Brandon M. Weiss, Robert J. Miller, K. Sabeel Rahman, Alexandra Sickler, Paul R. Tremblay

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What gaps exist in the justice system that result in a need for services provided by community economic development attorneys? What is the evidence that those gaps actually exist? How do we know that community economic development practitioners fill those gaps, and in what way? These are merely a few of the questions addressed in this collection. At the Association of American Law Schools (AALS) annual meeting in San Diego in January 2018, legal scholars gathered to discuss this evolution as part of the discussion group, “Community Economic Development Is Access to Justice.” The goal of the discussion group was …

Corporate Governance As Privately-Ordered Public Policy: A Proposal, Lynn A. Stout, Sergio Alberto Gramitto Ricci

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In this Article, we show how our society can use corporate governance shifts to address, if not entirely resolve, a number of currently pressing social and economic problems. These problems include: rising income inequality; demographic disparities in wealth and equity ownership; increasing poverty and income insecurity; a need for greater innovation and investment in solving problems like disease and climate change; the “externalization” of many costs of corporate activity onto third parties such as customers, employees, creditors, and the broader society; the corrosive influence of corporate money in politics; and discontent and loss of trust in the capitalist system among …

How The United States Postal Service (Usps) Could Encourage More Local Economic Development, Randall K. Johnson

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No abstract provided.

The Death Of The Firm, June Carbone, Nancy Levit

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This Article maintains that the decision in Burwell v. Hobby Lobby, which referred to the corporation as a legal fiction designed to serve the interests of the people behind it, signals the “death of the firm” as a unit of legal analysis in which business entities are treated as more than the sum of their parts and appropriate partners to advance not just commercial, but public ends. The Hobby Lobby reference to the firm as a fiction is a product of a decades-long shift in the treatment of corporations. This shift reflects both an ideological embrace of the free-market-oriented “agency-cost” …

Economic Ideology And The Rise Of The Firm As Criminal Enterprise, June Carbone, William K. Black

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No abstract provided.

Book Review: Lawless Capitalism: The Subprime Crisis And The Case For An Economic Rule Of Law, William K. Black

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No abstract provided.

How Tax Increment Financing (Tif) Districts Correlate With Taxable Properties, Randall K. Johnson

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This article deals with Tax Increment Financing (TIF), which is a popular economic development tool. TIF borrows against future tax revenues to subsidize current development projects. In Illinois, this economic development tool is justified by its promise to expand the local tax base: by increasing tax revenues, increasing the number of tax payers or increasing the number of taxable properties in the area. However, it is not clear that TIF delivers on its promise. A new dataset, which is introduced in this article, helps to clarify the issue. It does so by providing information about the number of TIF Districts …

To Return From Where We Started: Revisioning Of Property, Land Use, Economy, And Regulation In America, John W. Ragsdale Jr

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No abstract provided.

A License To Grow: Ending State, Local, And Some Federal Barriers To Innovation And Growth In Key Sectors Of The U.S. Economy, Brian J. Broughman, Brink Lindsey, Anthony J. Luppino, Karl S. Okamoto, Mark C. Suchman, Robert E. Litan, Larry E. Ribstein

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This white paper outlines some of the remaining state barriers and a few federal ones and how they prevent disruptive innovations by entrepreneurs and established firms alike that potentially could bring new and more efficient business models to the market. In the case of the legal sector, the barriers we identify not only adversely affect legal innovation, but also impede innovation in other sectors of the economy. Similarly, in health care, pharmaceuticals, K-12 education, the financing of growth businesses, and many consumer services, legal obstructions hinder innovation and the provision of efficient, affordable, high-quality services and products. We conclude by …

The Department Of Justice Chases Mice While Lions Roam The Campsite: Why The Department Has Failed To Prosecute The Elite Frauds That Drove The Financial Crisis, William K. Black

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No abstract provided.

Those Who Ignore The Successes Of The Past Suffer Recurrent, Intensifying Crises, William K. Black

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No abstract provided.

Neo-Classical Economic Theories, Methodology, And Praxis Optimize Criminogenic Environments And Produce Recurrent, Intensifying Crises, William K. Black

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Control frauds” are seemingly legitimate entities controlled by persons that use them as a fraud “weapon.” A single control fraud can cause greater losses than all other forms of property crime combined. This article focuses on the role of neo-classical economic theory, methodology, and praxis is optimizing criminogenic environments that hyper-inflate financial bubbles and produce recurrent, intensifying financial crises. Financial control frauds’ “weapon of choice” is accounting. Neoclassical theory, which dominates law & economics, is criminogenic because it assumes that control fraud cannot exist while recommending legal policies that optimize an industry for control fraud. Its hostility to regulation, endorsement …

Testimony Before The Financial Crisis Inquiry Commission, Miami, Florida September 21, 2010, William K. Black

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"Control frauds" are seemingly legitimate entities controlled by persons that use them as a fraud "weapon." (The person that controls the firm is typically the CEO, so that term is used in this testimony.) A single control fraud can cause greater losses than all other forms of property crime combined. Neo-classical economic theory, methodology, and praxis combine to optimize criminogenic environments that hyper-inflate financial bubbles and produce recurrent, intensifying financial crises. A criminogenic environment is one that creates such perverse incentives that it leads to widespread crime. Financial control frauds’ "weapon of choice" is accounting. Neoclassical theory, which dominates law …

Misplaced Fears In The Legislative Battle Over Affordable Biotech Drugs, David E. Adelman, Christopher M. Holman

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Much like tort reform, the debate over recently enacted legislation on biotech drugs — and particularly regulatory supplements to patent protection — has taken on a significance that dwarfs its impact on prescription drug expenditures. Under the Health Care Reform legislation, Congress enacted two major reforms: First, creation of an abbreviated Food and Drug Administration (FDA) approval process for follow-on biologics (FOBs), which are the analogues of generics for biotech drugs. Second, establishment of a twelve-year “data exclusivity” period in which clinical testing data collected by brand-name innovators cannot be used by producers of FOBs to satisfy FDA testing requirements. …

How Trust Is Abused In Free Markets: Enron’S 'Crooked 'E’', William K. Black

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A market can have a lemon's problem when one party to the transaction has far superior information to the other and defects are not obvious. The classic bad car, the "lemon" led to the name for this theory. A lemon's market is inefficient. Both consumers and reputable sellers of high quality goods are harmed by the consumer's inability to distinguish superior goods. Frauds, who sell poor quality goods by misrepresenting quality are the only winners. Markets beset by lemon's problems may be improved by government intervention, which can aid both consumers and honest sellers.

In his article "How Trust is …

Introduction: The Sustainability Principle, Irma S. Russell

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No abstract provided.

Those Who Forget The Regulatory Successes Of The Past Are Condemned To Failure, William K. Black

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This paper shows that the reregulation of the savings & loan (S&L) industry was successful because the regulators correctly identified the primary cause of the second phase of the debacle as an epidemic of “accounting control fraud” and took effective measures to contain such frauds. Control frauds occur when the persons controlling a seemingly legitimate organization use it as a “weapon” to defraud. In the financial sector, accounting control fraud is the “weapon of choice.” The regulators’ primary insights were (1) that lenders optimize accounting fraud by engaging in a distinctive operational pattern that would be irrational for any honest …

The Sustainability Principle In Energy, Irma S. Russell

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No abstract provided.

Measure For Measure: Cost Benefit Analysis And Environmental Policy, Irma S. Russell

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No abstract provided.

Introduction: Umkc Sports Law Symposium: Emerging Legal Issues Affection Amateur & Professional Sports, Kenneth D. Ferguson

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Introduction to the 2007 University of Missouri-Kansas City Law School’s inaugural Sports Law Symposium. The symposium created a forum that contributed to developing intellectual synergies among national sports law scholars, practicing sports law attorneys, athletic directors, coaches, sports industry professionals, and, importantly, student-athletes. The engagements created revolved around the theme of emerging legal issues affecting amateur and professional sports. The symposium featured scholarly presentations in the amateur and professional sports areas. Scholarly inquiry focused on a range of topics, from the economic and legal issues affecting the coaching profession to balancing gender and minority gender equity under Title IX. The …

Conflicts Of Interest, Ellen Y. Suni

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No abstract provided.

The Internet, Regulation And The Market For Loyalties: An Economic Analysis Of Transborder Information Flow, Paul D. Callister

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As the Internet has gained prevalence, attention has turned to its regulation. Indeed, regulation proves to be a unique and complex problem, given the Internet's lack of traditional borders and boundaries. Highlighting possible avenues of regulation, the author discusses neo-classical economic theory, specifically Monroe E. Price's market for loyalties theory. Although originally applied to the regulation of broadcasting, the author contends that the market for loyalties theory can also be applied to the Internet. Building on Professor Price's pioneering analysis, the article extends the theory to examine market elasticity's effect on the loss of monopoly control over information flow (as …

Law And Economics: Nexus Of Science And Belief, Robert C. Downs

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No abstract provided.

Introduction: The Value-Added Tax - A Symposium, Edwin T. Hood

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On October 22, 1979, Representative Al Ullman, Chairman of the House Ways and Means Committee, introduced H.R. 5665, the Tax Restructuring Act of 1979. Representative Ullman proclaimed the bill, which contains a ten percent value-added tax, as the "largest adjustment in U.S. taxation since 1913." In his statement accompanying the introduction of H.R. 5665, Chairman Ullman states that the overall purpose for the imposition of a value-added tax coupled with reductions in social security and income taxes, is to correct major flaws in the United States economy-namely double digit inflation, declining productivity, inadequate capital formation, and lag­ging competition with foreign …

Ecology, Growth And Law, John W. Ragsdale Jr

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No abstract provided.

Ecology And The Role Of The Federal Courts, John W. Ragsdale Jr

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No abstract provided.

Income Averaging, M. Carr Ferguson, Edwin T. Hood

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No abstract provided.