Open Access. Powered by Scholars. Published by Universities.®
- Publication
Articles 1 - 2 of 2
Full-Text Articles in Law
The Law Of Society: Governance Through Contract, Peter Zumbansen
The Law Of Society: Governance Through Contract, Peter Zumbansen
Peer Zumbansen
This paper focuses on contract law as a central field in contemporary regulatory practice. In recent years, "governance by contract" has emerged as the central concept in the context of privatization, domestic and transnational commercial relations, and law-and-development projects. Meanwhile, as a result of the neo-formalist attack on contract law, "governance of contract" through contract adjudication, consumer protection law, and judicial intervention into private law relations has come under severe pressure. Building on early historical critique of the formalist foundations of an allegedly private law of the market, the paper assesses the current justifications for contractual governance and posits that …
Contract Theory And The Failures Of Public-Private Contracting, Wendy Netter Epstein
Contract Theory And The Failures Of Public-Private Contracting, Wendy Netter Epstein
Wendy Netter Epstein
The market for public-private contracting is huge and flawed. Public-private contracts for services such as prisons and welfare administration tend to result in cost savings at the sacrifice of quality service. For instance, to cut costs, private prisons skimp on security. Public law scholars have studied these problems for decades and have proposed various public law solutions. But the literature is incomplete because it does not approach the problem through a commercial lens. This Article fills that gap. It considers how economic analysis of contract law, in particular efficiency theory and agency theory, bear upon the unique problems of public-private …