Law and Economics Commons^™

Social Security, Taxation Law, And Redistribution: Directions For Reform, Alison Mcclelland, Rick Krever

Osgoode Hall Law Journal

While it is now generally accepted that some redistribution of economic power is a legitimate goal of government, there is no consensus as to the type of redistribution that should be pursued. In the absence of a clear redistributive goal, it is impossible to evaluate critically current law, or make recommendations. for change. In the first part of this article, we examine alternative models of redistribution and advocate a preferred model, namely, redistribution to promote equality of opportunity and to recognize periods of vulnerability. We then evaluate the operation of Australian social security law and taxation law in light of …

Sex, Reason, And A Taste For The Absurd, Robin West

Georgetown Law Faculty Publications and Other Works

Like much of Richard Posner's best work, Sex and Reason does many things, and for that reason will no doubt attract a large and diverse readership. This heavily footnoted, exhaustively researched, and imminently accessible book is a welcome introduction to the interdisciplinary study of sex. For the lay reader it presents an arresting set of speculations about human sexuality, drawn from the author's evident familiarity with a sizeable library of studies representing at least half a dozen scientific and social scientific disciplines, assembled in a readable and lively way. Of more interest, perhaps, to academicians and social scientists familiar with …

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 …

Panhandlers At Yale: A Case Study In The Limits Of Law, Brandt Goldstein

Articles & Chapters

No abstract provided.

Chaos Theory And The Justice Paradox, Robert E. Scott

Faculty Scholarship

"[T]he laws have mistakes, and you can't go writing up a law for everything that you can imagine."

"When you reach an equilibrium in biology you're dead."

As we approach the Twenty-First Century, the signs of social disarray are everywhere. Social critics observe the breakdown of core structures – the nuclear family, schools, neighborhoods, and political groups. As these traditional social institutions have disintegrated, the law has expanded to fill the void. There are more laws, more lawyers, and more use of legal mechanisms to accomplish social goals than at any other time in history. The custodians and interpreters of …

Two Sherman Act Section 1 Dilemmas: Parallel Pricing, The Oligopoly Problem, And Contemporary Economic Theory, Jonathan Baker

Scholarly Articles in Law Reviews & Journals

No abstract provided.

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 …

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).

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 …

Sex Stories: A Review Of Sex And Reason, Margaret Chon

Faculty Articles

In this review of Sex Stories-A Review Of Sex And Reason by Richard A. Posner, Professor Chon explores the implications of Posner’s exuberant faith in bioeconomic reasoning, unalloyed by any of the late modernist or postmodernist challenges to the nature and limits of science and its transformative potential. In doing so, Professor Chon attempts three things. First, she discusses some of his sociobiological assertions in order to demonstrate that evolutionary biology consists of a much richer and more contradictory set of assertions than Posner would have us believe. Even within the empiricist framework, therefore, Posner leaves out many stories that …

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 …

Challenges To The Doctrine Of Free Trade, Jagdish N. Bhagwati

Faculty Scholarship

The doctrine of free trade is facing new challenges today. As one surveys the policy arena, questions are raised about free trade by those who worry about Japan (and today this includes many more than the "revisionists") and who argue that free trade with Japan is not gainful. Several environmentalists as well oppose free trade with passion. These concerns relate to what now is called the absence of "level playing fields": "fair trade" as a precondition of free trade is the battle cry.

There is also the fear that free trade, even if efficient, hurts the unskilled and thus immiserizes …

Norms Of Pride And Resistance: Psychology, Virtue, And The Blackmail Puzzle - Draft - 12-31-1992, Wendy J. Gordon

Scholarship Chronologically

Blackmail law can impact on the belief structures (moralisms) and behaviors of both the potential criminal and the potential victim; it also can affect the conceptual and value structures of lawyers and other societal onlookers. These issues surrounding what one might call the "symbolic" virtues of outlawing the act of blackmail may help to explain why blackmail law seems relatively unconcerned with the well-being of the victim.

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 …

The Economics And Politics Of Emergency Health Care For The Poor: The Patient Dumping Dilemma, Maria O'Brien Hylton

BYU Law Review

No abstract provided.

Keiretsu: Their Effect On Business And How American Government And Business Can Confront Them, Jonathan E. Johnson Iii

BYU Law Review

No abstract provided.

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.

The Gains From Faith In An Unfaithful Agent: Settlement Conflicts Between Defendants And Liability Insurers, Michael J. Meurer

Faculty Scholarship

A pervasive problem in the settlement of liability litigation arises because liability insurers bundle their promise to indemnify the insured with a promise to represent the insured in settlement and litigation [see, e.g., Beckwith Machinery Co. v. Travelers Indemnity Co., 638 F.Supp. 1179 (W.D. Pa. 1986)]. Standard policies not only require the insurer to pay for legal representation but, more importantly, give the insurer the privilege of controlling the litigation and settlement process. The problem is how to resolve the conflict of interest between the insurer and the insured that may arise during settlement negotiations. This conflict is manifest when …

Judicial Choice And Disparities Between Measures Of Economic Values, David Cohen, Jack L. Knetsch

Osgoode Hall Law Journal

An important idea, which characterizes law in society, is a reluctance to move from the status quo. In general, one can argue that legal institutions and legal doctrine are not engaged in the redistribution of wealth from one party to another. This paper explores a possible explanation for that principle. The authors' research suggests that, across a wide range of entitlements and in a variety of contexts, individuals value losses more than foregone gains. The paper argues, as a matter of efficiency, that law and social policy might have developed in a manner consistent with this valuation disparity. Furthermore, this …

Three Attorney Fee-Shifting Rules And Contingency Fees: Their Impact On Settlement Incentives, Bradley L. Smith

Michigan Law Review

This Note seeks to predict the direction and magnitude of the change in settlement frequency under the three fee-shifting rules: American, British, and the British rule as modified by the PCC. Part I analyzes the proposed rule using the theoretical model of litigation and settlement developed by Hause. Part II examines the impact of fee-shifting when the plaintiff's lawyer receives reimbursement via a contingency fee. Analysis of indemnification in a contingency fee context raises several policy issues which section II.A addresses. Section II.B discusses the terms and assumptions made in adjusting Hause's model to reflect the standard contingency fee arrangement, …

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

Law And Public Choice: A Critical Introduction, William Dubinsky

Michigan Law Review

A Review of Law and Public Choice: A Critical Introduction by Daniel A. Farber and Philip P. Frickey

African Economic Community And The Promotion Of Intra-African Trade, Muna Ndulo

Cornell Law Faculty Publications

No abstract provided.

A Law & Economics Perspective On A "Traditional" Torts Case: Insights For Classroom And Courtroom, Robert H. Lande

All Faculty Scholarship

This article is from a symposium, "Five Approaches to Legal Reasoning in the Classroom: Contrasting Perspectives on O'Brien v. Cunard S.S. Co. Ltd.," 57 Missouri L. Rev. 345 (1992). The symposium contains five articles that analyze this case from, respectively, traditionalist, Law & Economics, Critical Legal Studies, Feminist, and Critical Race Theories perspectives.

This article analyzes the O'Brien case from a Law & Economics perspective. It does so in a manner suitable for presentation in a Torts class or a Law & Economics class. It explains the basic terminology and approach. It analyzes the economics underlying the vaccination requirement, whether …

Legal Services: Has It Succeeded?, Alan W. Houseman

University of the District of Columbia Law Review

No abstract provided.

Tax Expenditure Budgets: A Critical View, Jeffrey S. Lehman, Douglas A. Kahn

Cornell Law Faculty Publications

No abstract provided.

Regulating Public Pension Fund Investment: The Role Of Federal Legislation, Sharon Reece, Richard Morrissey, Mary Beth Navin

Brigham Young University Journal of Public Law

No abstract provided.

Institutional Reform In Eastern Europe: Evolution Or Design?, Roman Frydman, Andrzej Rapaczynski

BYU Law Review

No abstract provided.

Aviation Law And Regulation, Robert M. Hardaway, Paul Stephen Dempsey, William E. Thoms

Sturm College of Law: Faculty Scholarship

We sought to write a comprehensive reference book for aviation lawyers and practitioners, and airline and aircraft manufactuing executives in need of vital information regarding law and government regulation in the field of commercial and general aviation. We envision this book as an aid for the neophyte and experienced practitioner alike.

Post-Revolutionary Law And Economics:A Foreword To The Symposium, Anthony D'Amato

Faculty Working Papers

The Lanec (short for Law and Economics) movement of the 1970s hit the legal landscape like a nuclear device and permanently irradiated it. A couple of decades later, as we sift through the fallout, we are entitled to ask whether anything fundamental has changed. Every contributor to this Symposium seems to answer yes. Maybe they're like the book reviewer who believes deep in her heart that the book is worthless, but if she reveals it the editor will conclude that there is no point in printing her review. Let me put my own biases on the table. In general I …