Law and Economics Commons^™

Book Review, Lakshman D. Guruswamy

Publications

No abstract provided.

Trends. International Trade And The Subversion Of Justice: Japan, The European Union, And Iraq, Ibpp Editor

International Bulletin of Political Psychology

The author discusses the moral philosophy, the psychology of moral judgment, and treatises on law often suggest that justice subsumes some combination of behavioral and intentional accountability and equity.

Labor And The Supreme Court: Review Of The 1996-1997 Term, Keith N. Hylton

Faculty Scholarship

The U.S. Supreme Court's 1996-1997 Term will surely not be remembered among lawyers for its decisions in the employment area. Most of these decisions involved narrow questions of statutory interpretation, and for the most part the Court has handed down opinions consistent with existing case law. There was not one National Labor Relations Act (NLRA) decision this Term and the two employment discrimination cases involved fairly technical issues of statutory interpretation. The feeling of a quiet year is put across by simply reading the statutes at issue other than Title VII: the Federal Employers' Liability Act (FELA) (one case), the …

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.

Book Review: Has Globalization Gone Too Far? By Dani Rodrik. Washington, D.C, Paul B. Stephan

Northwestern Journal of International Law & Business

To this debate comes Dani Rodrik, an economist on the faculty of Har- vard's John F. Kennedy School of Government. In his brief and intriguing book, Has Globalization Gone Too Far?,2 he seeks to make the race-to-the- bottom story respectable for those who take economics seriously. Rather than preaching radical opposition to globalization, however, he proposes moderate and incremental resistance. He outlines policy responses to what he argues are legitimate concerns about the growth of the world economy, encouraging targeted trade barriers based on a demonstrated national con- sensus about legitimate and illegitimate means of production. I will begin by …

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.

Economics And Sociology: The Prospects For An Interdisciplinary Discourse Of Law, Kenneth G. Dau-Schmidt

Articles by Maurer Faculty

My purposes in this essay are two-fold. First, I provide some background on the disciplines of economics and sociology as a basis for the discussion at this Symposium and for my own discussion of the potential for an interdisciplinary discourse on law. In this regard, in the first section of the essay I provide a brief history of the relationship between the two disciplines, a brief outline of the basic characteristics of each disciplinary perspective, and a brief discussion of the emerging opportunities for useful exchange between the two disciplines. Second, I examine the prospects that the economic analysis of …

The Problem With Baker Hughes And Syufy: On The Role Of Entry In Merger Analysis, Jonathan Baker

Scholarly Articles in Law Reviews & Journals

No abstract provided.

Unilateral Competitive Effects Theories In Merger Analysis, Jonathan Baker

Scholarly Articles in Law Reviews & Journals

No abstract provided.

The Factional Foundations Of Competition Policy In America 1888-1992, James May

Scholarly Articles in Law Reviews & Journals

No abstract provided.

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 …

Lending Discrimination: Economic Theory, Econometric Evidence, And The Community Reinvestment Act, Keith N. Hylton, Vincent D. Rougeau

Faculty Scholarship

Although it has been settled law for almost two decades, there has been a heightened interest in the Community Reinvestment Act (CRA) over the last several years. One factor driving this interest is the continuing economic decline of the inner cities and the consequent widening of the wealth gap between cities and surrounding suburbs in many areas of the country. A second factor is the consolidation of the banking industry, which has encouraged expansion-oriented banks to improve their CRA ratings to gain the approval of regulators. A recent effort to enhance enforcement of the statute, in part the result of …

Positivism And The Separation Of Law And Economics, Avery Wiener Katz

Michigan Law Review

The goal of this essay is to explain this problem and to translate the meaning of positivism between legal and economic cultures, in order to show economists and lawyers why much of the debate about the jurisprudential merits of law and economics misses the mark. My thesis is that it is positivism, and the way economic culture treats the positive-normative distinction, that is responsible for much of the gulf between law and economics - but that it is also positivism that makes economics so appealing to so many lawyers and legal scholars. For a positivist approach can be useful to …

The Economics Of Copyright, Robert G. Bone, Wendy J. Gordon

Scholarship Chronologically

Copyright law protects works of creative expression. At its relatively uncontroversial core lie songs, plays, novels, paintings, and other works of aesthetic value. But copyright is not confined solely to aesthetic subject matter; in many countries, it extends to works of fact, such as biographies, maps, and telephone directories, and to works with practical value. For example, one of the most controversial issues in copyright law today is whether and how much copyright should protect computer programs.

Takings From Freund To Fischel." Review Of Regulatory Taking: Law, Economics, And Politics, By W. A. Fischel, James E. Krier

Reviews

The regulatory takings problem is easy to describe but difficult to resolve. The government enacts restrictions on land use that reduce the market value of the targeted parcels by a considerable amount. The restrictions are couched in terms of the police power, but actually they might amount to a taking that requires compensation, not because any of the land has been wrested away (it hasn't), but because much of the value has. Through the police power the government gets to govern for free, whereas with takings it's pay as you go. On what does the distinction-police power or taking-depend?

A Missing Markets Theory Of Tort Law, Keith N. Hylton

Faculty Scholarship

This Article provides a framework for reconciling the tension between tort doctrine and economic theory, and for addressing the general failure of economically oriented theories to come to grips with doctrine at a detailed level. My claim is that tort doctrine should be viewed as a response to the incompleteness of markets, or more generally the problem of missing markets. Because of market incompleteness, some of the benefits as well as costs associated with activities will be shifted or "externalized" to third parties. Tort doctrine reflects sensitivity to the externalization of benefits and costs. It can therefore be understood only …

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

Faculty Publications

No abstract provided.

Risk Regulations And Its Hazards, Stephen F. Williams

Michigan Law Review

A Review of Breaking the Vicious Circle: Toward Effective Risk Regulation by Stephen Breyer

The Economics Of Canadian National Railway V. Norsk Pacific Steamship (The Jervis Crown), David S. Cohen

Elisabeth Haub School of Law Faculty Publications

Economic analysis of legal doctrine assumes, indeed its relevance largely depends upon the assumption, that judicial decisions will have an instrumental impact on the future behaviour of firms and individuals who are not themselves parties to the litigation which resulted in the specific doctrinal development being analysed. In other words, economic analysis assumes that the decisions of courts - and particularly, for what should be obvious reasons, the decisions of the Supreme Court of Canada - have a direct influence upon the manner in which non-litigants will choose to order their affairs following that decision. Thus, the focus of a …

Law And Economics, Michael J. Trebilcock

Dalhousie Law Journal

Prior to 1960, most North American law schools paid attention only to anti-trust, public utility regulation, and perhaps tax policy from a law and economics perspective (sometimes referred to as the "old" law and economics). However, beginning in the early 1960's with pioneering articles by Guido Calabresi on tort law and Ronald Coase (the 1991 recipient of the Nobel Prize in Economics) on property rights, followed by prolific writings and a comprehensive text by Richard Posner on a vast range of legal issues, the field of law and economics has burgeoned with many lawyers and economists around the world now …

The Economic Causes And Consequences Of Constitutional Reform In Eastern Europe, Robert C. Juelke

William & Mary Law Review

No abstract provided.

Truth And Consequences: The Force Of Blackmail's Central Case - Draft - 1/11/1993, Wendy J. Gordon

Scholarship Chronologically

Blackmail commentary continues to multiply. The purpose of this paper is to show what we agree on. Its primary tool will be to define what I call the "central case" of the blackmail literature, and to supply the connecting links that will allow us to see how the various theories converge where central-case blackmail is involved. Among other things, I will show how the deontological and consequentialist (economic) approaches converge in condemning central-case blackmail, and I will defend the criminalization of such blackmail.

Getting The Political Architecture Right, Richard Cullen, Peter Hanks

Osgoode Hall Law Journal

As Australia approaches the twenty-first century, it finds itself, like a number of other Anglo-centred countries in the western world, including Canada, in the grip of continuing economic trauma. There has been a marked relative (and absolute) slip in general economic performance. This paper focuses on the linkages between this phenomenon and Australia's basic political architecture. It argues that, although renovation of Australian federalism is no panacea for these problems, there are linkages between Australia's aged, formal, political structure and its recent economic performance. Lack of attention to the task of serious, systematic renovation is allowing the present outdated political …

Book Review, G. Marcus Cole

Journal Articles

G. Marcus Cole provides a thorough review of Towards a Post-Apartheid Future: Political & Economic Relations in Southern Africa by Gavin Maasdorp & Alan Whiteside (New York: St. Martin's Press, 1992).

Books Received, Law Review Staff

Vanderbilt Journal of Transnational Law

SYSTEMS OF CONTROL IN INTERNATIONAL ADJUDICATION AND ARBITRATION

By W. Michael Reisman

Durham and London: Duke University Press, 1992. Pp. 174.

LEGISLATIVE RESPONSES TO TOBACCO USE

By World Health Organization Dordrecht, The Netherlands: Martinus Nijhoff Publishers, 1991.Pp. 226.

IMPORT AND CUSTOMS LAW HANDBOOK

By Michael J. Horton

New York, New York: Quorom Books, 1992. Pp. 308. $55.00.

THE LAW AND ECONOMIC DEVELOPMENT IN THE THIRD WORLD

Edited by P. Ebow Bondzi-Simpson

New York, New York: Praeger Publishers 1992. Pp. 200. $49.95.

Scholarship Of The Absurd: Bob Bork Meets The Bald Soprano, Alex Kozinski

Michigan Law Review

A Review of Antitrust Economics on Trial: A Dialogue on the New Laissez-Faire by Walter Adams and James W. Brock

Efficiency And Individualism, Gary S. Lawson

Faculty Scholarship

Law and economics-the systematic application of neoclassical price theory to legal problems has dominated the legal academy in recent years. One recent study found that law and economics "for several decades appears to have pervaded about one quarter of scholarship in elite law reviews," and that figure may seriously

understate the theory's influence. A number of justifiably well regarded scholarly journals devote themselves almost exclusively to economic analysis of law, and the subject is now a regular part of law school curricula.' Perhaps most importantly, law and economics is a pervasive and influential presence in informal academic discussions. Even legal …

Book Review, Hugh H. Gibbons

RISK: Health, Safety & Environment (1990-2002)

Reviews of the following books: K. S. SHRADER-FRECHETTE, Risk AND RATIONALITY (U. California Press 1991) [312 pp.] Index of Names, Index of Subjects, Notes. CIP 91-3294; ISBN 0-520-07287-1 (Cloth $39.95); ISBN 0-520-07289-8 (Pbk. $15.95). [2120 Berkeley Way, Berkeley, CA 94720.] W. KIP VisCusi, REFORMING PRODUCTS LIABILITY (Harvard U. Press 1991). [270 pp.] Appendices, bibliography, index, notes. CIP 90-23161, ISBN 0-674-75323-2 (Cloth $39.95). [79 Garden Street Cambridge, MA 02138.]