Law and Economics Commons^™

Trust Planning And The Washington State Capital Gains Tax, Jadrian M. Coppieters

Seattle University Law Review Online

On April 25, 2021, the Washington state legislature enacted a new state capital gains tax. Prior to the enactment of the new state capital gains tax, Washington had been one of the few states that did not impose a tax on either income or capital gains. The limitations imposed by the Washington state constitution have forced the legislature to characterize the tax as an excise tax, rather than treat it as an income tax as would the federal government and every other state. Based on the statute’s structure and its presentation as an excise tax, whether intentionally or unintentionally, the …

The New International Tax Regime, Reuven S. Avi-Yonah

Law & Economics Working Papers

On October 8, 2021, over 130 countries committed themselves to the most far-reaching changes in the international tax regime since its inception in 1923. Slated to begin on the anniversary year of 2023, this new regime (ITR 2.0) adopts significant changes from the old one (ITR 1.0). Specifically, ITR 2.0 eliminates the physical presence requirement and the arm’s length standard for a significant portion of the profits of large multinationals that have been essential elements of ITR 1.0 since the 1930s, in a way that is more consistent with ITR 1.0’s Benefits Principle (BP). ITR 2.0 also explicitly implements the …

Corruption And Its Manifestations In The Field Of Public Education At The Present Stage Of Development Of The Republic Of Uzbekistan, Abdullayeva Malikabonu Erkin Qizi

ProAcademy

The article deals with the concept and signs of corruption in national and international legislation. Based on the analysis of legal definitions of the concept of corruption, lists of acts of corruption in conjunction with the provisions of the most significant international legal acts that laid the foundations for understanding corruption, an attempt is made to determine the list and content of essential features of this social and legal phenomenon. As significant signs of corruption, the author singled out: social harm (danger), sphere of existence, subject of corruption, subjects, use by the subject of corruption of official (official) powers or …

Funding Global Governance, Kristina B. Daugirdas

Law & Economics Working Papers

Funding is an oft-overlooked but critically important determinant of what public institutions are able to accomplish. This article focuses on the growing role of earmarked voluntary contributions from member states in funding formal international organizations such as the United Nations and the World Health Organization. Heavy reliance on such funds can erode the multilateral governance of international organizations and poses particular risks for two kinds of undertakings: normative work, such as setting standards and identifying best practices; and evaluating the conduct of member states and holding those states accountable, including through public criticism, when they fall short. International organizations have …

The Euclid Proviso, Ezra Rosser

Washington Law Review

This Article argues that the Euclid Proviso, which allows regional concerns to trump local zoning when required by the general welfare, should play a larger role in zoning’s second century. Traditional zoning operates to severely limit the construction of additional housing. This locks in the advantages of homeowners but at tremendous cost, primarily in the form of unaffordable housing, to those who would like to join the community. State preemption of local zoning defies traditional categorization; it is at once both radically destabilizing and market responsive. But, given the ways in which zoning is a foundational part of the racial …

Copyrighting Tiktok Dances: Choreography In The Internet Age, Ali Johnson

Washington Law Review

TikTok is a video-sharing social media application that launched in 2018 and has grown wildly since its inception. Many users are drawn to the platform by “dance challenges”—short dance routines of varying complexity set to popular songs that are recreated by other users, eventually going “viral” (i.e., recreated on a massive scale by other users) on the app. Going viral can provide young dancers and choreographers an opportunity to break into the highly competitive entertainment industry. However, there is a problem: due to TikTok’s interface and community practices, the original creators of a dance (who, significantly, are often young women …

Fiscal Decolonization-Indigenous Fiscal Autonomy And Tax Jurisdiction, Riad Kherallah

LLM Theses

This thesis focuses on the relationship between Indigenous fiscal autonomy and self-determination. Indigenous nations’ ability to achieve self-determination is dependent upon their ability to autonomously finance self-government. Unfortunately, Canada’s colonial policies have weakened Indigenous economies and rendered them dependent upon the Crown. Due to Indigenous nations’ lack of fiscal autonomy, Crown policies designed to promote Indigenous self-government have proven inadequate. This thesis argues for using the United Nations Declaration on the Rights of Indigenous Peoples as a blueprint for developing more equitable economic relations. While there are various elements to Crown-Indigenous economic relations, this thesis focuses on the distribution of …

The Federal Option: Delaware As A De Facto Agency, Omari Scott Simmons

Washington Law Review

Despite over 200 years of deliberation and debate, the United States has not adopted a federal corporate chartering law. Instead, Delaware is the “Federal Option” for corporate law and adjudication. The contemporary federal corporate chartering debate is, in part, a referendum on its role. Although the federal government has regulated other aspects of interstate commerce and has the power to charter corporations and preempt Delaware pursuant to its Commerce Clause power, it has not done so. Despite the rich and robust scholarly discussion of Delaware’s jurisdictional dominance, its role as a de facto national regulator remains underdeveloped. This Article addresses …

Inflation In The 21st Century: Taking Down The Inflationary Straw Man Of The 1970s, Daniel Alpert, Cornell Research Academy Of Development, Law, And Economics, Mario Einaudi Center For International Studies

Cornell Law Faculty Publications

This overview of the history of, and future prospects for, undesirable levels of price inflation in the U.S. economy concludes that concerns raised in 2021 by several well-known economists and analysts – regarding the prospects for accelerating levels of inflation as a result of pandemic-era and post-pandemic fiscal and monetary policy (enacted and proposed) – is misplaced. The wisdom of continuing expanded fiscal policy from late 2021 onwards is supported by an analysis of the prospects for future inflation in terms of both (i) the shortfall in aggregate domestic demand relative to existing endogenous and exogenous supply; and (ii) the …

Marginal Benefits Of The Core Securities Laws, Kevin S. Haeberle

Faculty Publications

To every thing there is a season. In the area of securities regulation in the United States, it is the season for expansion. This article shows why such expansion should not involve use of the core issuer disclosure, fraud, and insider trading laws to reduce information asymmetry in the stock market in the name of investor protection. I argue that any expansion of these laws focused on this secondary market should therefore be justified by distinct concerns (namely, efficiency ones). Moreover, any push to better serve and protect investors should be focused on other areas of securities law (such as …

Hamiltonian Shifts In State Aid And The Coming Breakdown Of The Internal Market: Can The European Union Survive Its Covid-19 Response?, Richard Dacher

Cardozo International & Comparative Law Review

This Note analyzes the consequences of the COVID-19 pandemic to the legal structure of the EU and its path forward. The EU's and the member states' actions to combat the pandemic have brought the political and economic union to the precipice of a breakdown of the Internal Market. Fiscal policies mirroring those of the United States will likely rise in its place. Recent tax court decisions, acquiescence to federal debt-sharing schemes, and deregulated state aid policies highlight the federalization of the EU as a unified economic structure, and also foreshadow its diminished influence over the member states' state aid policies. …

Replicability In Empirical Legal Research, Jason M. Chin, Kathryn Zeiler

Faculty Scholarship

As part of a broader methodological reform movement, scientists are increasingly interested in improving the replicability of their research. Replicability allows others to perform replications to explore potential errors and statistical issues that might call the original results into question. Little attention, however, has been paid to the state of replicability in the field of empirical legal research (ELR). Quality is especially important in this field because empirical legal researchers produce work that is regularly relied upon by courts and other legal bodies. In this review article, we summarize the current state of ELR relative to the broader movement towards …

State Energy Cartels, James W. Coleman

Cardozo Law Review

Fracking has made America the center of global oil production and the engine of the world’s economy. But haste makes waste. America’s new oil wells are releasing natural gas as well, which is prized as a clean and reliable fuel around the world but must be simply burned off or “flared” if there are no pipelines to bring it to the customers that need it. The pace of the oil boom and the challenges of building new pipelines have forced oil companies to flare staggering quantities of natural gas. Texas and North Dakota are now flaring—that is, wasting—more gas than …

Copyright Through The Prism Of The Law And Economics Movement: A Scientific Approach, Nikos Koutras, Marinos Papadopoulos

Research outputs 2014 to 2021

This paper discusses aspects of economic analysis of law developed because of the status quo existing on the Internet and of the evolution of legal theory on copyright. It also explores the massive increase of interest in the law and economics of intellectual property during the first decade of twenty-first century. The paper argues that law and economics discourse on copyright foregrounds policymaking with a focus on copyright’s economic ramifications. This paper also examines Coase’s theorem and its influence on considerations about copyright regulatory frameworks and potential reform to keep abreast of ongoing technological advancements and their impact on copyright …

The Last Call For Civil Rights: Toward Economic Equality, Steve Lee

Georgia State University Law Review

Over six decades have passed since the civil rights movement began in the mid-1950s, but American society has not yet fully realized the promise of the civil rights movement, which at its core embodies the protection and promotion of equity and dignity of all people. Despite the historic improvements that accord the legal protection of equal rights among different races, genders, and ethnic groups, significant economic disparity among racial and regional lines persists. The Reverend Martin Luther King, Jr. declared, “Now our struggle is for genuine equality, which means economic equality.” However, the pursuit of economic equality has not been …

Forms Of International Legal And Organizational Interaction In The Field Of Counteraction Illicit Drug Trafficking, Psychotropic Substances And Precursors, Musaev Djamaliddin Kamalovich

ProAcademy

The author raises the problem of international cooperation of states in the field of illicit trafficking in narcotic drugs and psychotropic substances. References are given to the main conventions related to this problem, signed in different years. The mechanisms of adoption and the form of practical application of these conventions are disclosed, as well as an analysis of the situation in the world in relation to drug trafficking is given, options for resolving the problem by strengthening the international system for controlling drug trafficking are proposed. A comprehensive analysis of international cooperation on legal and organizational approaches to combating the …

Freedom Without Opportunity: Using Medicare Policy And Cms Mechanisms To Anticipate The Platform Economy’S Pitfalls And Ensure Healthcare Platform Workers Are Fairly Paid, Kim A. Aquino

Brooklyn Law Review

The rapidly aging population, along with the demand for innovative Medicare delivery models such as bundled payment programs have incentivized the use of technology in healthcare because of its potential to cut costs and improve quality of care. Like many industries embracing technological strides to automate and digitize services, the healthcare industry has welcomed new labor markets like the platform economy to facilitate connections between patients and workers with ease. Along with streamlining connections, the platform economy also promises workers flexibility and autonomy over their own schedule. The platform economy’s promise of freedom, however, is not enough to prevent the …

The Debate Over Disclosure In Third-Party Litigation Finance: Balancing The Need For Transparency With Efficiency, Alec J. Manfre

Brooklyn Law Review

The market for third-party litigation financing (TPLF) in the United States is facing unprecedented growth and popularity. The ever-increasing complexity and cost of legal disputes, especially in the commercial context, has made third-party financing an invaluable resource for both litigants in need of capital and investors seeking to diversify their portfolios with nontraditional assets. However, as the market continues to boom, so does the risk that TPLF will be used unethically. Critics of the industry are calling on regulators at both the state and federal levels to implement comprehensive disclosure requirements for TPLF at the outset of all civil litigation …

Federal-State Partnership: How The Federal Government Should Better Support Its State Unemployment Insurance Offices In Times Of Crisis, Maddie Mcfee

University of Michigan Journal of Law Reform

In March 2020, the COVID-19 pandemic caused millions of people to lose their jobs and become dependent on unemployment benefits. State unemployment offices were not prepared for this sudden onslaught of claims. Offices could not increase staffing levels because they were not given money by the federal government to do so. As offices were overwhelmed, a scammer group named Scattered Canary took this opportunity to fraudulently claim millions of dollars from several states. Because the federal government supplies administrative funds to states based on average previous need, the system is not designed to support states’ increased needs during sudden economic …

Emergency Money: Lessons From The Paycheck Protection Program, Susan C. Morse

University of Michigan Journal of Law Reform

The Paycheck Protection Program, or PPP, was huge. Between April 2020 and May 2021, it provided almost $800 billion to more than 11 million businesses—about a third of all U.S. businesses with 500 employees or fewer. The PPP was also flawed. Treasury and the Small Business Administration faced incomplete statutory instructions and a challenging tradeoff between speed and accuracy in distributing PPP funds.

These flaws make the PPP a realistic and valuable case study; the PPP reveals tools that can be applied to similar distributions of emergency funds. One tool is back-end adjustments, meaning that funds are first distributed and …

Securing Secrets: The Need For A Treaty Addressing State-Sponsored Economic Espionage, Jaylin Johnson

West Virginia Law Review

No abstract provided.

Finding A Rule-Based Solution To The Appellate Body Crisis: Looking Beyond The Multiparty Interim Appeal Arbitration Arrangement, Henry S. Gao

Research Collection Yong Pung How School Of Law

The WTO dispute settlement system is in crisis due to the persistent blockage of the appointment of Appellate Body members by the United States. This paper reviews the US criticisms against the Appellate Body and argues that its allegations are unfounded and its approach is wrong. To deal with the US blockage, various proposals have been made, with the most popular being the Multiparty Interim Appeal Arbitration Arrangement (MPIA) set up by several key Members including the European Union and China. After a thorough analysis of the key features of the MPIA from both theoretical and practical perspectives, this paper …

International Tax Law- Status Quo, Trends And Perspectives, Reuven S. Avi-Yonah

Law & Economics Working Papers

This chapter will argue that developments in the past decade have significantly bolstered the International Tax Regime, so that it does a much better job in protecting PIT and CIT from erosion due to cross-border tax evasion and avoidance than it did before 2010. Specifically, the adoption of FATCA and the consequent development of Automatic Exchange of Information (AEI) and the Common Reporting Standard (CRS) have significantly protected PIT, while the OECD BEPS project has significantly improved CIT, especially if the current BEPS 2.0 effort is successfully concluded.

The International Tax Regime At 100: Reflections On The Oecd's Beps Project, Reuven S. Avi-Yonah

Law & Economics Working Papers

This essay will consider the outcome of Pillars One and Two in light of the history of international taxation since the foundation of the international tax regime in 1923. Specifically, it will consider how Pillar One fits with efforts to redefine the source of active income in light of the digital revolution, and the ways in which Pillar Two implements the single tax principle, which can be traced back to the first model treaty from 1927. Both of those ideas were already articulated and developed in my own early writing on international taxation from the 1990s, when the Internet was …

The Case For Banning (And Mandating) Ransomware Insurance, Kyle D. Logue, Adam B. Shniderman

Law & Economics Working Papers

Ransomware attacks are becoming increasingly pervasive and disruptive. Not only are they shutting down (or at least “holding up”) businesses and local governments all around the country, they are disrupting institutions in many sectors of the U.S. economy — from school systems, to medical facilities, to critical elements of the U.S. energy infrastructure as well as the food supply chain. Ransomware attacks are also growing more frequent and the ransom demands more exorbitant. Those ransom payments are increasingly being covered by insurance. That insurance offers coverage for a variety of cyber-related losses, including many of the costs arising out of …

Autonomy And The Folk Concept Of Valid Consent, Joanna Demaree-Cotton, Roseanna Sommers

Law & Economics Working Papers

Consent governs innumerable everyday social interactions, including sex, medical exams, the use of property, and economic transactions. Yet little is known about how ordinary people reason about the validity of consent. Across the domains of sex, medicine, and police entry, Study 1 showed that when agents lack autonomous decision-making capacities, participants are less likely to view their consent as valid; however, failing to exercise this capacity and deciding in a nonautonomous way did not reduce consent judgments. Study 2 found that specific and concrete incapacities reduced judgments of valid consent, but failing to exercise these specific capacities did not, even …

Noise Pollution, Patrick Barry

Law & Economics Working Papers

The authors of Noise: A Flaw in Human Judgment are a trio of intellectual heavy hitters: Nobel-prize winner Daniel Kahneman, constitutional law scholar Cass Sunstein, and former McKinsey consultant (and current management professor) Olivier Sibony. As prolific as they are prominent, the three of them have collectively produced over fifty books and hundreds of articles, including some of the most cited research in social science. If academic publishing ever becomes an Olympic sport, they’ll be prime medal contenders, particularly if they get to compete as a team or on a relay. Their combined coverage of law, economics, psychology, medicine, education, …

Tindak Pidana Pencucian Uang, Yunus Husein

Indonesian Journal of International Law

Money laundering is considered as a transnational organized crime. The logic of elimination money laundering is to omit the criminal’s motivation to enjoy their proceed of crime. The efforts to eliminate money laundering is much related to the issues of national jurisdiction. Thus, it requires international cooperation among countries, where international law is needed. Eventhough there is still no specific convention about money laundering, but regulation about money laundering is partially arranged in some conventions such as Vienna Convention 1988 and in UN Convention on Transnational Organized Crimes 2000. Indonesia has enacted a regulation is amended by UU No. 25 …

Enhancing Maritime Security In The Malacca Strait: Cooperation Against Piracy And Maritime Terrorism, Rheny Wahyuni Pulungan

Indonesian Journal of International Law

The Malacca Strait, together with the Singapore Strait, are two of the most important straits in the world and consequently there is significant traffic through them, reported to be approximately 60,000 vessels a year. The rising number of violent and well-coordinated attacks on transiting ships in these straits has become a very serious problem, such as threats of unauthorized boarding; theft of personal property, cargo and the ships themselves; and violence against, and the kidnapping or murder of, seafarers. One effort which is likely to enhance security in the Malacca Straits is the establishment of 'joint patrol areas', where more …

Preventing Retaliation In Trade By Harmonizing The Measures, Muhammad Putra Iqbal

Indonesian Journal of International Law

Sanitary and Phytosanitary Measures (SPS) Agreement as a globally-accepted legal document within the World Trade Organization (WTO) is very important in ensuring food traded across the boundaries is safe for consumers and also protecting animal and plant from diseases and pests. Therefore, SPS Agreement's role within the international trade is very crucial. This paper evaluates "Indonesia-China candy case" that closely related to the implementation of the SPS Agreement. It is concluded that Indonesia as a member of WTO has declared and proven that Indonesia national regulations on food safety comply with international standard. On the other hand, China should show …