Law and Economics Commons^™

Restating Capitalization Standards And Rules: The Case For "Rough Justice" Regulations (Part Two), John W. Lee, Eldridge Blanton, Veena Luthra, Glenn Walberg, Darryl Whitesell

Faculty Publications

No abstract provided.

Lifestyles Of The Not-So-Rich Or Famous: The Role Of Choice And Sacrifice In Bankruptcy, A. Mechele Dickerson

Faculty Publications

No abstract provided.

Law And Economic Development: A New Beginning?, Lan Cao

Faculty Publications

No abstract provided.

Tyrannous Lex, Thomas E. Baker

Faculty Publications

Professor Baker presents a fundamentally unique question. Including all of the legal opinions, statutes and administrative rules, how much law do we have? Is there way to calculate a “Gross Legal Product” for the United States and what effect does this “GLP” have on the U.S. economy? What about all of the secondary legal sources? What do they add, if anything, to our ability to understand all of the law that is constantly being produced? All these and more are the subject of Professor Baker’s article.

Guidance Rules And Enforcement Rules: A Better View Of The Cathedral, Dale A. Nance

Faculty Publications

Contemporary economic analysis of law is a product of the confluence of standard microeconomics with a legal tradition heavily influenced by American Legal Realism. The effect of this merger has been an analysis of legal institutions from the perspective of the Holmesian "bad man," who sees predicted legal actions as merely various expected material costs or benefits to be taken into account. This might be illuminating for the purposes of an "outsider," such as a sociological behaviorist or perhaps even a legal advisor alerting her "bad man" client to the risks of adverse legal consequences. But it produces bizarre results …

Appendix To Guest Editor's Observations: A Proposal For A Consolidated Theft/Fraud Guideline, Frank O. Bowman Iii

Faculty Publications

Professor Frank Bowman proposed the following consolidated theft/fraud guideline to the U.S. Sentencing Commission in October 1997. The proposal is explained in detail in a forthcoming law review article, Coping With Loss”: A Re-Examination of Federal Economic Crime Sentencing Under the Guidelines, 51 Vanderbilt L. Rev. -- (April 1998).

Child Care Policy And The Welfare Reform Act, Peter R. Pitegoff

Faculty Publications

This article sketches the 1996 Welfare Reform Act's major changes with particular attention to federally subsidized child care for low-income families.

Guest Editor's Observations: Back To Basics: Helping The Commission Solve The "Loss" Mess With Old Familiar Tools, Frank O. Bowman Iii

Faculty Publications

Roughly one-quarter of all convicted federal defendants are sentenced for some kind of economic crime.1 There is an emerging consensus that the provisions of the federal sentencing guidelines devoted to economic crime do not work very well, a consensus that has created a powerful momentum for significant change. This Issue of FSR is about whether the guidelines concerning economic offenses, principally §2B1.1 (Theft) and §2F1.1 (Fraud), should be materially altered, and if so, how. The debate that has been joined over this question is technically complex and philosophically challenging. There are disagreements over issues as particular as when collateral posted …

Environmental Inequity: Economic Causes, Economic Solutions, Thom Lambert, Christopher Boerner

Faculty Publications

The article examines one such shortcoming: namely, that existing research fails to account for the dynamic nature of the housing market. Analyzing data from the St. Louis metropolitan area, this study finds that economic factors--not siting discrimination--are behind many claims of environmental racism. This phenomenon suggests the need to develop public policies that fit the economic nature of the problem. In particular, a policy that compensates individuals living near industrial sites is the key to securing environmental justice.

Restating Capitalization Standards And Rules: The Case For "Rough Justice" Regulations (Part One), John W. Lee, Eldridge Blanton, Veena Luthra, Glenn Walberg, Darryl Whitesell

Faculty Publications

No abstract provided.

Price Theory And Vertical Restraints: A Misunderstood Relation, Alan J. Meese

Faculty Publications

The Chicago School of antitrust analysis has exerted a strong influence over the law of vertical restraints in the past two decades, leading the Supreme Court to abandon much of its traditional hostility toward such agreements. Chicago's success has provoked a vigorous response from Populists, who support the traditional approach. Chicago, Populists claim, has improperly relied upon neoclassical price theory to inform the normative and descriptive assumptions that drive its analysis of trade restraints generally and of vertical restraints in particular. This reliance is misplaced, Populists assert, because the real world departs from that portrayed by price-theoretic models and, at …

Critique Of Current Congressional Capital Gains Contentions, John W. Lee

Faculty Publications

No abstract provided.

The Cat That Catches Mice: China's Challenge To The Dominant Privatization Model, Lan Cao

Faculty Publications

No abstract provided.

Chapter 5: Unions, Finance, And Labor's Capital, Peter R. Pitegoff

Faculty Publications

Events in recent decades have dramatized the need for labor attention beyond narrow issues of wages and working conditions. In the face of widespread industrial disinvestment, unions have been hard-pressed to protect the job status or employment, or the future of their members. At the same time, the developing labor law has narrowed the range of bargaining opportunities for unions to affect corporate decisions-the very decisions that result in job dislocations and corporate transformations. The effectiveness of strikes has been undermined by growing use of permanent replacement workers.

To thrive in the coming decades, unions must carve out a new …

Urban Revitalization And Community Finance: An Introduction, Peter R. Pitegoff

Faculty Publications

"In his 1933 poem Burn the Cities, Nathanael West, the iconoclastic American novelist and urban radical, portrays the city as a focal point of discontent and of anguish for the world's predicament.2 From Jerusalem to Paris and finally to London, the poem winds through distressing urban imagery with scant opportunity for escape. The implicit modicum of hope is an overthrow of the present order. From older cities abroad, West imports an apocalyptic vision of cities at home."

Looking For Default Rule Legitimacy In All The Wrong Places: A Critique Of The Authority Of Contract Model And The Coordination Principle Proposed By Professor Burto, Juliet P. Kostritsky

Faculty Publications

A central question of contract law remains: when should the law supply a term not expressly agreed to? Many scholars have addressed that question, yet the justification for law- supplied terms often remains unconvincing. Because many proposals to supply terms do not incorporate a comparative frameworkfor assessing the costs and benefits of legal interventions, they are incompletely justifled. This Article proposes that a comparative net benefit approach (developed in institutional economics to explain private arrangements) be adapted and expanded to resolve fundamental issues of legal intervention. This Article uses that framework to critique the (1) hypothetical bargain and (2) Ayres/Gertner …

Child Care Enterprise, Community Development, And Work, Peter R. Pitegoff

Faculty Publications

Child care enterprise can be a vehicle for community-based economic development. Beyond the critical goal of child care service, day care as an enterprise can help build capacity for job creation and entrepreneurship in the inner city and in disadvantaged communities. Stable child care institutions with quality jobs can sound a counterpoint to the feminization of poverty. The demand for child care services is substantial and growing. In single parent families and in households with two working parents, day care is essential to enable parents to work or go to school. Further, high quality early childhood programs can have a …

Appropriations Redux: A Critical Look At The Fiscal Year 1988 Continuing Resolution, Neal Devins

Faculty Publications

No abstract provided.

Contingent Income Items And Cost Basis Corporate Acquisitions: Correlative Adjustments And Clearer Reflection Of Income, John W. Lee, Mark S. Bader

Faculty Publications

No abstract provided.

Basing-Point Pricing Establishes Illegal Vertical Agreements, Elmer J. Schaefer

Faculty Publications

No abstract provided.

Book Review Of The New Industrial Order: Concentration Regulation And Public Policy And Property, Markets, And Government Intervention: A Textbook In Microeconomic Theory And Its Current Application, Charles H. Koch Jr.

Faculty Publications

No abstract provided.

Competition In Legal Services Under The War On Poverty, Eric Wright

Faculty Publications

The creation of the legal services programs of the war on poverty has focused attention on the deficiencies in the legal treatment of the poor. Despite general agreement that the poor need legal services, however, there has been a continuous debate over the control of the legal programs and the proper role of the poor in administering them. Behind the dispute over control is a difference of opinion about the goals of the legal services programs. Because these programs were established to help fulfill the policy of the Economic Opportunity Act of I964 "to eliminate the paradox of poverty in …