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Articles 1 - 3 of 3
Full-Text Articles in Law
Property Rules And Liability Rules: The Cathedral In Another Light, James E. Krier, Stewart J. Schwab
Property Rules And Liability Rules: The Cathedral In Another Light, James E. Krier, Stewart J. Schwab
Articles
Ronald Coase's essay on "The Problem of Social Cost" introduced the world to transaction costs, and the introduction laid the foundation for an ongoing cottage industry in law and economics. And of all the law-and-economics scholarship built on Coase's insights, perhaps the most widely known and influential contribution has been Calabresi and Melamed's discussion of what they called "property rules" and "liability rules."' Those rules and the methodology behind them are our subjects here. We have a number of objectives, the most basic of which is to provide a much needed primer for those students, scholars, and lawyers who are …
External Sovereignty And International Law, Ronald A. Brand
External Sovereignty And International Law, Ronald A. Brand
Articles
This essay addresses the need to redefine current notions of sovereignty. It returns to earlier concepts of subjects joining to receive the benefits of peace and security provided by the sovereign. It diverges from most contemporary commentary by avoiding what has become traditional second-tier social contract analysis. In place of a social contract of states, this redefinition of sovereignty recognizes that international law in the twentieth century has developed direct links between the individual and international law. The trend toward democracy as an international law norm further supports discarding notions of a two-tiered social contract relationship between the individual and …
Eti, Phone The Department Of Labor: Economically Targeted Investments, Ib 94-1 And The Reincarnation Of Industrial Policy, Edward A. Zelinsky
Eti, Phone The Department Of Labor: Economically Targeted Investments, Ib 94-1 And The Reincarnation Of Industrial Policy, Edward A. Zelinsky
Articles
In Interpretive Bulletin 94-1 (B 94-1), the Department of Labor defines economically targeted investments (ETIs) as investments which bear risk-adjusted, market rates of return and which also generate collateral economic benefits. lB 94-1 declares ETIs, so defined, to be consistent with the fiduciary provisions of the Employee Retirement Income Security Act of 1974 (ERISA). In his critique of lB 94-1, Professor Edward Zelinsky finds the ET1 concept unsound as a matter of policy and logic and incompatible with ERISA's statutory standards governing pension trustees' investment decisions. Professor Zelinsky views 1B 94-1 as resurrecting the discredited notion of industrial policy. He …