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Full-Text Articles in Law
Equality And The Forms Of Justice, Susan Sturm
Equality And The Forms Of Justice, Susan Sturm
Faculty Scholarship
Justice and equality are simultaneously noble and messy aspirations for law. They inspire and demand collective striving toward principle, through the unflinching comparison of the "is" and the "ought." Yet, law operates in the world of the practical, tethered to the realities of dispute processing and implementation. The work of many great legal scholars and activists occupies this unstable space between principle and practice. Owen Fiss is one such scholar, attempting to straddle the world of the here-and-now and the imagined and then deliberately constructed future, the contours of which have been established during the founding moments of our constitutional …
Groping And Coping In The Shadow Of Murphy's Law: Bankruptcy Theory And The Elementary Economics Of Failure, James W. Bowers
Groping And Coping In The Shadow Of Murphy's Law: Bankruptcy Theory And The Elementary Economics Of Failure, James W. Bowers
Michigan Law Review
Part I briefly examines the conventional explanation for bankruptcy's defining characteristic, its default distributional rule. It concludes that the conventional explanation is insufficiently informative for us to tell whether the Bankruptcy Code (Code) is actually working or not. Part II argues that the only existing systematic attempt to explain bankruptcy law, the so-called "Creditors' Bargain" Theory, is inadequate for two reasons. First, the predictions it generates are belied by real-world events. Second, it is mistaken on theoretical grounds, primarily because it ignores how debtors are likely to manage their assets. Part III presents the Murphian theory of failing behavior, the …