Law Commons^™

Law In Books Versus Law In Action In The Landmark Shenzhen, China, Personal Bankruptcy Regime, Jason J. Kilborn

Emory Bankruptcy Developments Journal

The first personal bankruptcy regime in Mainland China celebrated its second anniversary on March 1, 2023. An empirical assessment of the law in action during these first two years reveals some troubling deviations from the early promises of the new law on the books. In the first year, a handful of judges were charged with an arduous in-person review process for over 1,000 applicants, and they accepted only twenty-five for case initiation. In the second year, initial case review was delegated to an administrative body—an important efficiency enhancement that tripled the number of opened cases. Nonetheless, most debtors continue to …

Introduction: A Tribute To The Honorable Thomas L. Ambro, Z Arima

Emory Bankruptcy Developments Journal

No abstract provided.

Acceptance Remarks For The 2024 Distinguished Service Award For Lifetime Achievement, Thomas L. Ambro

Emory Bankruptcy Developments Journal

No abstract provided.

Access To Justice: A Roadmap To Creating And Launching Consumer Bankruptcy Experiential Programs In Law Schools, Ishaq Kundawala

Emory Bankruptcy Developments Journal

No abstract provided.

Just Consumer Financial Protection: Prevention Or Cure, Andrea J. Boyack

Emory Bankruptcy Developments Journal

No abstract provided.

The Original Meaning Of The Sixteenth Amendment, David Gamage, John R. Brooks

Faculty Publications

The Sixteenth Amendment to the United States Constitution enshrines Congress’s “power to lay and collect taxes on incomes, from whatever source derived.” Challenges to the exercise of that power have typically turned on whether the thing being taxed is “income” or not. In the most recent example, the 2024 Supreme Court case of Moore v. United States, taxpayers argued that the Sixteenth Amendment only authorizes taxation of realized income—that is, that gain from appreciated property can only be taxed as “income” when there has been a sale or conversion of that property.

In this Article we argue—based on the original …

Property Rights In Space: Where Does The Law Stand Now?, Frans Von Der Dunk

Space, Cyber, and Telecommunications Law Program: Faculty Publications

1. Introduction: property rights in outer space?
2. Rights over immovable property and outer space – the discussion on Article II of the Outer Space Treaty
3. National developments contributing to an interpretation of Article II of the Outer Space Treaty
4. Concluding remarks

In discussing the issue of “property rights in outer space,” it should first be clarified that at a general level there might be three categories of property rights at issue.

First, there is the issue of “intellectual property rights,” the rights that individuals or other right-holders might enjoy when it comes to exclusively using, marketing and/or …

Valuing Social Data, Amanda Parsons, Salome Viljoen

Articles

Social data production—accumulating, processing, and using large volumes of data about people—is a unique form of value creation that characterizes the digital economy. Social data production also presents critical challenges for the legal regimes that encounter it. This Article provides scholars and policymakers with the tools to comprehend this new form of value creation through two descriptive contributions. First, it presents a theoretical account of social data, a mode of production that is cultivated and exploited for two distinct (albeit related) forms of value: prediction value and exchange value. Second, it creates and defends a taxonomy of three “scripts” that …

Tying Law For The Digital Age, Daniel A. Crane

Articles

Tying arrangements, a central concern of antitrust policy since the early days of the Sherman and Clayton Acts, have come into renewed focus with re-spect to the practices of dominant technology companies. Unfortunately, tying law’s doctrinal structure is a self-contradictory and incoherent wreck. A con-ventional view holds that this mess is due to errant Supreme Court precedents, never fully corrected, that expressed hostility to tying based on faulty economic understanding. That is only part of the story. Examination of tying law’s origins and development shows that tying doctrine was built on a now-dated paradigm of what constitutes a tying arrangement. …

Use Of Artificial Intelligence In Drug Development, Louise C. Druedahl, Nicholson Price, Timo Minssen, Dipl Jur, Ameet Sarpatwari

Articles

Considerable focus has been placed on the health care applications of artificial intelligence (AI). Already, machine learning, a subset of AI that involves “the use of data and algorithms to imitate the way that humans learn” has been used to predict diseases, while AI-powered smartphone apps have been developed to promote mental health and weight loss. Owing in part to such successes, the market for AI in health care has been forecasted to increase more than 1000% between 2022 and 2029, from $13.8 billion to $164.1 billion. One area of substantial promise is drug development, which is poised to benefit …

Protecting The Sovereign's Money Monopoly, Gary B. Gorton, Jeffery Zhang

Articles

Sovereign states have held a monopoly over the production of circulating money for well over a century. Governments, not private entities, issue circulating money. The advent of stablecoins—privately issued digital money that can circulate—raises the question of the sovereign’s money monopoly from the grave. Should private money circulate alongside sovereign money in the twenty-first century? We argue against coexistence to preserve financial stability and monetary sovereignty.

Through the lens of economic theory, we explore the coexistence question by revisiting the original debates that led to the sovereign’s money monopoly in England, the United States, Canada, and Sweden. In each case, …

The Macroprudential Myth, Jeremy C. Kress, Jeffery Yufeng Zhang

Articles

According to conventional wisdom, the 2008 fnancial crisis fundamen- tally changed how policymakers approach fnancial regulation. Before the crisis, regulators sought to prevent individual fnancial institutions from collapsing, but this “microprudential” strategy proved inadequate to stop the market-wide meltdown. In response, policymakers purportedly turned to a new “macroprudential” approach that prioritizes the stability of the fnancial system as a whole instead of individual institutions in isolation. Regulators in the United States and abroad enthusiastically embraced macroprudential policy, implementing stress tests, capital buffers, liquidity requirements, and other supposed macroprudential tools. As the United States’ top bank regulator declared in 2015, “[W]e …

A Law At War With Itself: Character Evidence And The Doctrine Of Chances, Len Niehoff, Shannon Hickey

Articles

Certain legal principles have raging within them a kind of civil war. Important but abstract policy concerns pull the doctrine in one direction; common sense and practical experience pull it in another. Casualties ensue.

Perhaps no body of legal doctrine better exemplifies this sort of internal conflict than the general ban on character evidence, as embodied in Federal Rule of Evidence 404(a)(1). That rule states: “Evidence of a person’s character or character trait is not admissible to prove that on a particular occasion the person acted in accordance with that character or trait.” The rule has deep roots in the …

The Joy Of The Fight: What Litigators Can Learn From The Martial Arts, Len Niehoff, Tim Lynch

Articles

You walk into a martial arts training studio (in Japanese styles, a dojo) and you scan the room. Everything going on here looks, well, unpleasant. In one corner, you observe a group of students performing kata, choreographed sequences of kicks, punches, and blocks that simulate the experience of fighting multiple opponents. Sweat pours off them. In another corner, you see two students engaged in sparring exercises, or kumite. The sharp, smacking noise of one student striking the protective pads worn by another carries across the room. In a third corner, you notice students doing push-ups, working their muscles until their …

Building The Gateway: Why The Two Pillars Need Each Other., Reuven S. Avi-Yonah, Ajitesh Kir

Articles

There is a reason the OECD proposed two pillars for its gateway to a better tax future. A gateway requires both pillars, and neither can stand without the other. Pillar 2 is a fait accompli, but it needs countries to implement Pillar 1 as well because in the absence of a clear sourcing rule there is no limit to countries implementing the Qualified Domestic Minimum Top-Up Tax (QDMTT), which would turn off the other parts of Pillar 2 and potentially result in double taxation. Pillar 1 is not going forward in the absence of a Multilateral Tax Convention (MLC), but …

Meme Corporate Governance, Dhruv Aggarwal, Albert H. Choi, Yoon-Ho Alex Lee

Articles

Can retail investors revolutionize corporate governance and make public companies more responsive to social concerns? Beginning in 2021, there was a dramatic influx of retail investors into the shareholder base of “meme” stock companies such as GameStop, AMC, and Bed Bath & Beyond. Observing the unprecedented, coordinated trading among retail investors, scholars and practitioners predicted that the influx of retail investors would reduce the power of large institutional investors and democratize corporate governance. These predictions were driven by three factors: generational, with assumptions that millennial and Gen Z investors would challenge corporate management; societal, reflecting growing discontent with slow progress …

Congress And Shifting Sands In Administrative Law., Christopher J. Walker

Articles

In recent years, we have seen an anti-administrativist turn in the federal judiciary, with the Supreme Court limiting agency power in important respects. These shifting sands in administrative law seem to be motivated, at least in part, by the Court’s perception of the rise of presidential administration and decline in legislative activity. As part of the Widener Commonwealth Law Review Judging in Administrative Law Symposium, this Essay assesses how the Court has responded to concerns about over-presidentialism and then sketches out several ways Congress can respond to reassert itself in federal lawmaking.

21st-Century Environmental Challenges And Revitalizing Epa Enforcement, David Uhlmann

Articles

This is a profound moment for environmental protection efforts in our country. Over the past half-century, under presidents of both parties, we have made great progress addressing the challenges that led to the enactment of our environmental laws during the 1970s. Our air is cleaner, our rivers and streams are healthier, and we have far fewer hazardous waste sites. We have achieved those successes because of conscientious companies across America who meet their environmental obligations and the vigilance of the U.S. Environmental Protection Agency (EPA) and the Justice Department when companies break the law and put their profits before the …

Taxation And Corporate Governance, Reuven S. Avi-Yonah, Ariel Siman

Articles

Legal and economic scholars have examined the intersection between corporate governance and taxation; however, recent legal scholarship has generally focused on the interplay between director compensation, management measures in the face of the market for corporate control, and the double taxation of inter-corporate dividends. Other aspects of the relationship between corporate governance and taxation have received limited attention. This article aims to fill this gap in the literature. First, this paper discusses the corporate agency problem and the existing justifications for the corporate tax. Second, this paper argues that the corporate tax can be justified on the ground that it …

Applying Strict Scrutiny In Termination Of Parental Rights Proceedings: Why Alabama’S Jurisprudence Should Reshape Child Protection Practice, Christopher Church, Vivek Sankaran

Articles

“Our decision in [Pierce] holds that parents have a fundamental constitutional right to rear their children . . . . I would apply strict scrutiny to infringements of fundamental rights.” “[S]trict scrutiny leaves few survivors.” Termination of parental rights (TPR) stands as “a unique kind of deprivation” that results in the state irrevocably severing a parent’s fundamental right to care for their child. In The Ties that Bind Us, we scrutinized the child protection system’s overuse of TPR, employing clinical, empirical, and constitutional perspectives. This Article advocates for a constitutionally anchored framework aimed at enforcing strict scrutiny when considering TPR …

Feedback Loops: Fortifying Feedback, Patrick Barry

Articles

Feedback has an Important role to play in the fight against impostor syndrome and its many toxic by-products, including isolation, dread, depression, drops in motivation, and negative self-talk. In 2013, for example, one of the American Psychological Association’s oicial publications, gradPSYCH magazine, ran a cover story called “Feel like a Fraud?” that highlighted the stabilizing power that the right kind of feedback can provide. “he thing that made so much diference was supportive, encouraging supervision,” explained a graduate student interviewed for the story.

Bank Runs During Crypto Winter, Gary B. Gorton, Jeffery Yufeng Zhang

Articles

“Crypto Winter” refers to a systemic event that occurred in the cryptocurrency ecosystem—what we call “crypto space”—in 2022. Crypto space was wracked by plummeting crypto prices, the troubles of a large crypto hedge fund, and runs on many crypto lending platforms. Several large crypto firms went bankrupt. Collectively, everyday people lost billions of dollars. And crypto investors are still feeling the aftershocks.

We begin with two observations: First, despite mass marketing campaigns to the contrary, crypto lending platforms recreated and replicated traditional banking. They were vulnerable to runs because, like all banks, they borrowed short and lent long. This is …

Cognitive Dissonance In The Antebellum South About The Lawfulness Of Slavery, Peter K. Westen

Articles

The institution of slavery, by its nature, was necessarily grounded in law. For whenever a society adjudges one class of persons as free and another as enslaved, law-like norms must exist to identify and distinguish the free from the enslaved. And whenever a society institutionalizes slavery, law-like norms must exist to establish the privileges and disabilities possessed by masters, by the enslaved, and by third persons in relation to masters and slaves. Such master-slave norms may not always be enforced. But, until societies disavow or disremember them, they constitute standards of right and wrong that master-slave societies profess to embrace. …

Channeling A Federal Right To Education Through State Constitutions And Courts, Nicole Sunderlin, Evan Caminker

Articles

Professor Black attributes the ubiquitous adoption of education clauses in state constitutions in the immediate pre- and especially post-Reconstruction era to a “constitutional compromise” struck by Congress and the states. The State Citizenship commitment was designed to enhance the republican nature of both levels of governance by ensuring broader access to political participation through voting and broader access to public education to inform and support democratic deliberation. The education component of this commitment was uniquely secured, argues Black, through a state-federal compromise using two complementary mechanisms: first, by mandating states to embrace a state constitutional obligation to provide basic educational …

Virtual Justice?: An Analysis Of Access To Court For People Experiencing Homelessness, Kaitlin Humer

Theses and Dissertations (Comprehensive)

Homelessness in Canada remains a wicked social problem that often intersects with compounding forms of marginalization. The criminalization of homelessness and living life in the public sphere explain, in part, why this population is likely to interact with the criminal justice system. Following the onset of the pandemic, the courts were forced to modernize and embrace digital technologies to maintain operations. Now four years since these changes, there are no signs of turning back and the court system is continuing forward with a hybrid model. Despite this, there is minimal research on the impact of virtual court proceedings on people …

Toward Best Practices For Trade-Security Measures, Harlan G. Cohen

Faculty Scholarship

The global economy is increasingly being weaponized. Citing security concerns from traditional defence to economic competitiveness, health emergency, and climate crisis, states are turning to sanctions, tariffs, export controls, investment screening, and subsidies. But while economic statecraft is becoming common, rules remain scarce. Questions about notice, duration, proportionality, harm minimization, compensation, retaliation, and/or rebalancing lack clear answers and seem almost theoretical. Once, we might have hoped the World Trade Organization (WTO) would play a role in developing such rules. But in the absence of an Appellate Body and in the face of state rejections of review, WTO’s deliberative processes have …

Punishment And Resources, Mark D. White

Publications and Research

Philosophers of punishment have paid little attention to resource constraints, which have an undeniable impact on how various approaches to punishment work in the real world. It has fallen on economists, with their central focus on scarcity and opportunity cost, to analyze the resource demands of different philosophies of punishment. However, the utilitarian nature of mainstream economics limits the scope of economic theories of punishment to deterrence, which fits naturally into mathematical economic techniques, as opposed to retributivism, the principled nature of which resists quantification. This chapter explores the resource implications of punishment. It starts by identifying shortcomings of the …

Fifty Years Of 'Cut To Grow': How Changing Narratives Around Corporate Tax Policy Have Undermined Child And Family Well-Being, Reuven S. Avi-Yonah, Emily Divito, Niko Lusiani

Articles

What follows in this report is an assessment, though not exhaustive, of the central worldviews and set of assumptions driving key US corporate tax reform moments in history—and their consequences for the well-being of children and families in the US. Though political narratives of all kinds are never cleanly chronological (and this remains true of those pertaining to corporate taxation and well-being policies), we aim to build on existing understanding of how dominant narratives come to be and how they, to the extent that they do, drive corporate tax policy outcomes in the US. Looking back over the past 50 …

Corporate Taxpayers And Frivolous Arguments, Part 2, Reuven S. Avi-Yonah

Articles

In my previous column, I discussed the Liberty Global cases and argued that the taxpayer’s positions were frivolous or lacked economic substance. I also argued that a corporate tax director who knows that a return position is frivolous or that a transaction has no economic substance should “just say no.” Until the day arrives that most tax directors take this view (I am not holding my breath), the IRS must rely on a combination of the uncertain tax position schedule and penalties under section 6662.

Answering The Right Questions In Rawat, Reuven S. Avi-Yonah

Articles

The Rawat case, which is currently before the D.C. Circuit, has generated a huge amount of commentary. The problem is that much of this commentary has focused on the partnership tax issues in the case and not on the international tax issue, which is the source of the relevant income. In my opinion, the international tax issue should be dispositive.