Law and Economics Commons^™

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 …

Chaos And The Law Of Borrowed Servant: An Argument For Consistency, J. Dennis Hynes

Publications

No abstract provided.

Policing Employment Contracts Within The Nexus-Of-Contracts Firm, Katherine V.W. Stone

Cornell Law Faculty Publications

No abstract provided.

An Enriched Economic Model Of Political Patronage And Campaign Contributions: Reformulating Supreme Court Jurisprudence, Richard L. Hasen

Cardozo Law Review

No abstract provided.

Restraints On Alienation Of Human Capital, Stewart E. Sterk

Articles

No abstract provided.

Coase's Twin Towers: The Relation Between The Nature Of The Firm And The Problem Of Social Cost, Stewart J. Schwab

Cornell Law Faculty Publications

Ronald Coase's The Nature of the Firm (The Firm) may well be the second most cited article in law and economics. Usually, calling something second best is a backhanded compliment. But in this case the praise is sincere, for Coase also wrote the most cited article, The Problem of Social Cost (Social Cost). Much ink has been spilled over each article. Both are justly famous, and together they make Coase a richly deserving recipient of the Nobel Prize in Economics.

The Firm, published in 1937, is most often studied by corporate law or industrial organization …

Section 1: Nuts And Bolts, David A. Santacroce

Other Publications

Workers facing plant closing and permanent or long-term layoffs now have a little more legal protection to give them some time to plan for retraining and to look for new jobs.

The Worker Adjustment and Retraining Notification (WARN) Act provides for 60 days advance notice to certain workers affected by a plant closing or mass layoff. This law was passed by the U.S. Congress in 1988 after having been sought for many years by unions and other workers' rights advocates.

Vigorous action by the labor movement and strong public support led to passage of the WARN Act in spite of …

The Prospects Of Pension Fund Socialism, William H. Simon

Faculty Scholarship

A substantial portion of corporate shareholdings in the United States is held by pension funds that secure retirement benefits for broad segments of the workforce. A number of commentators have argued that the assets secured by these pension funds should be used to promote the creation of a more democratic and egalitarian economy. Specifically, pension assets could be invested in projects that are deemed socially worthwhile, wielded in strategic "corporate campaigns" against companies resisting unionization, or directed toward allowing workers to obtain control over their own companies. This program of employing pension assets in the pursuit of a more democratic …

A Bargaining Analysis Of American Labor Law And The Search For Bargaining Equity And Industrial Peace, Kenneth G. Dau-Schmidt

Michigan Law Review

In this article, I present an alternative economic analysis of unions and collective bargaining that utilizes recent advances in labor economics and some simple applications of game theory to address the deficiencies of the traditional monopoly model.

The article proceeds in four parts. In Part I, I provide a brief primer on the economic analysis of unions and collective bargaining. I discuss the various possible sources of union wage increases, possible employer responses to union wage demands, and alternative models of the costs of collective bargaining. In Part II, I outline the traditional monopoly theory of unions by combining the …

A Bargaining Analysis Of American Labor Law And The Search For Bargaining Equity And Industrial Peace, Kenneth G. Dau-Schmidt

Articles by Maurer Faculty

No abstract provided.

Union-Community Relations In Buffalo: A Preliminary Assessment, Lawrence G. Flood

Buffalo Law Review

No abstract provided.

More Lessons From Japan: End Industrywide Collective Bargaining?, Robert H. Lande, Richard O. Zerbe Jr.

All Faculty Scholarship

The number of books and articles discussing Japanese management techniques with an eye to transplanting them to the United States is staggering. Americans understandably are impressed by Japanese efficiency and like to think the adoption of some of their techniques will aid our own industries. Often these proposals seem fanciful and fail to recognize the many differences between the two countries, their economic systems and cultures.

Introduction, Elliott J. Weiss

Cardozo Law Review

No abstract provided.

Collective Bargaining And The Coase Theorem, Stewart J. Schwab

Cornell Law Faculty Publications

The Attainment Of Pay Equity Between The Sexes By Legal Means: An Economic Analysis, George E. Johnson, Gary R. Solon

University of Michigan Journal of Law Reform

The purpose of this Article is to present an analysis of the gap between men's and women's wages with particular emphasis on the likely effects of various existing and proposed legal remedies. Part I sets out a simple "ideal" statistical model of wage determination. Its purpose is to identify carefully the potential impact of alternative legal remedies such as the Equal Pay Act, Title VII, and proposed policies like comparable worth. This model is ideal in the sense that, although it could be estimated in principle, there is no data set currently available with which it could actually be estimated. …

Charting The Future Course For Corporate Management Of Health Risks, Michael S. Baram

Faculty Scholarship

Corporations engage in technological activities of benefit to society, but thereby also create new health risks for workers, consumers, and communities. Government regulatory agencies deal with this chronic problem by conducting risk analyses and imposing various duties on private firms. Despite agency efforts and corporate compliance, health risks continue to arise and take their toll. To what extent will private firms voluntarily assume greater responsibility for preventing these health risks? This question is of increasing social importance, because the limitations of regulatory efforts are now obvious, whereas health risks are now being identified at what appears to be an increasing …

The Unemployment Rate: Time To Give It A Rest?, Stewart J. Schwab, John J. Seater

Cornell Law Faculty Publications

The most overworked figure in our society may be the unemployment rate. Newscasters, politicians, and economists use it in discussing everything from the overall health of the economy to the merits of alternative welfare programs. Despite its widespread use, however, the unemployment rate frequently is criticized for not indicating the true state of the economy’s health or of society’s welfare.

If the unemployment rate falls to 4 percent, for example, some economists will argue that it’s too low and that, even though the rate is greater than zero, the economy is overemployed. Others will argue that unemployment has not fallen …

A Critique Of The Justifications For Employee Suits In Strict Products Liability Against Third Party Manufacturers, Pierre John Schlag

Publications

No abstract provided.

The Right To An Adequate Income And Employment: A Reply To Professor Bernstein, David L. Chambers

Book Chapters

Bernsteins's Paper advances no constitutional arguments for requiring the government to ensure economic security for retarded citizens. His omission is justified not merely by the alternative focus he has chosen, but also by the absence of any sound or vendible constitutional arguments to advance. There remain, however, important roles for attorneys.

The Problem Of Coordinating Price And Wage Programs In 1950- 1953, John H. Kaufmann

Indiana Law Journal

No abstract provided.

The Problem Of Coordinating Price And Wage Programs In 1950-1953, John H. Kaufmann

Indiana Law Journal

No abstract provided.

Job-Seeking Aggression, The Nlra, And The Free Market, Sylvester Petro

Michigan Law Review

Two principles are at war in modem labor relations. One, the principle of free choice of employee representation, underlies all modem labor relations legislation. The other, the principle of absolute proprietary rights in certain work, manifests itself in the traditional jurisdictional dispute but occurs in a broader context as well. The labor relations principle, an attempt to order relations between employers and employees on a civilized basis, requires collective bargaining between employers and the representatives of their employees and further declares that the selection of representatives by employees shall be free of coercive interference by employers. Job-seeking aggression, combatting this …

Hardman & Neufeld: The House Of Labor, Morris D. Forkosch

Michigan Law Review

A Review of THE HOUSE OF LABOR. By J.B. S. Hardman and Maurice F. Neufeld.

Lester And Shister: Insights Into Labor Issues, Michigan Law Review

Michigan Law Review

A Review of INSIGHTS INTO LABOR ISSUES. Edited by Richard A. Lester and Joseph Shister.

Labor Law-Some Developments During The Past Five Years-(A Service For Returning Veterans), Russell A. Smith

Michigan Law Review

It will be helpful in appraising labor relations problems of today to recall that unionism in this country has trodden a rough and thorny path over the past century. Unions were not welcomed by employers, worker inertia itself was a considerable obstacle, and by and large the general public was dubious as to the value of unionism. Facing these difficulties unions from the- beginning felt compelled to resort to self-help--the strike, the picket line, the boycott, etc.--to achieve their aims. In so doing they encountered vigorous and successful opposition in the courts, as injured economic interests, and even the government, …

Aspects Of Wage Stabilization By The National War Labor Board, David Haber

Michigan Law Review

Most economists assume that behind an unrestricted war economy lurk the dangers of inflation. Although national income increases, so much of the country's productive effort is devoted to the manufacture of war goods that the number of articles available for civilian consumption necessarily diminishes. This gap between the available supply and the existing purchasing power has the effect of raising prices. Rising wages aggravate this situation because they increase production costs which are then passed on to the consumer in the form of higher prices, and because, by further increasing the purchasing power of the population, they increase the gap …

Legislation - Wisconsin Unemployment Insurance Act

Michigan Law Review

Culminating years of activity in its state legislature, Wisconsin on January twenty-eighth adopted the Groves Bill (Bill No. 8, A) providing for compulsory unemployment insurance, the first legislation of the sort to be enacted in the United States. For a discussion of unemployment insurance measures introduced at the 1931 legislatures see 30 MICH. L. REV. 410 (January, 1932). The compulsory plan is to become operative July 1, 1933, unless Wisconsin employers employing more than 175,000 workers in the state have by that date established approved voluntary insurance systems.