Law and Economics Commons^™

Chasing The American Dream: Young Adults In Financial Crisis, A. Mechele Dickerson

Brooklyn Journal of Corporate, Financial & Commercial Law

For nearly two decades, I have written about housing and I have chronicled why it is so hard for middle-class Americans to become homeowners. More recently, I have explored the concept of the “traditional” household (husband, wife and 2.5+ children) and stressed that, notwithstanding the substantial federal and state subsidies this household formation receives, it is no longer the norm. While the housing crisis persists, it has now metastasized into a widespread and sweeping financial and social breakdown. In my forthcoming book, The Middle-Class New Deal: Restoring Upward Mobility and the American Dream, I more broadly explore the challenges adults …

Interdisciplinary Research Is Hard And Other Lessons From Debt’S Grip, Pamela Foohey, Robert M. Lawless, Deborah Thorne

Brooklyn Journal of Corporate, Financial & Commercial Law

This symposium spotlights recent book-length treatments of household finance. Its organizers asked us to write an essay that would add to our recently published book, Debt’s Grip. At first, we were at a loss. The book documents what it means to live in financial precarity after decades of risk shifting onto households in the United States. We had spent a couple of years writing the book, which in turn is built on over a decade of teamwork in data collection. If we had something more to say, we would have said it in the book. For those looking for new …

Surviving The Post–Biafran War By Navigating The Igbo People's Igba-Boi Apprenticeship Model Of Entrepreneurship, Chiemela Victor Amaechi, Ugo Pascal Onumonu, Salmia Binti Beddu, Ikechi Mgbeoji

Articles & Book Chapters

After the Nigerian Civil War, the Biafrans started from scratch through trades, mostly adopting the igba-boi apprenticeship system in Nigeria. This paper examines the impact of the igba-boi entrepreneurship system in post-Biafra for the survival of the Igbo identity. Historical–analytical and documentary methods were adopted in this investigation, through primary and secondary sources. This study found different phases of the igba-boi- apprenticeship model, which was adopted in entrepreneurship by the Igbos to survive after the war. This study found that economic towns in Eastern Nigeria, like Aba, Owerri, Enugu, Nnewi, Onitsha and Awka, have enhanced economic development. Also, it found …

Limits Of Contingent Convertible Bonds: Evidence From The Credit Suisse Collapse, Albert H. Choi, Jacob Gerszten, Jeffery Y. Zhang

Law & Economics Working Papers

In the aftermath of the Global Financial Crisis, regulators encouraged banks to issue contingent convertible bonds ("CoCos") to improve the issuing bank's stability. Banks around the world have issued more than $1 trillion worth of CoCos to date. Yet it is unclear whether CoCos have achieved their intended goal of improving stability. Leveraging the unexpected banking panic in March 2023, we show that issuing banks fared worse-as measured by abnormal equity returns and probabilities of default. We also examine market dynamics after 2023 and find that the largest banks have continued to issue CoCos with similar contractual terms, though issuer …

Malapportionment: A Murder Mystery, Daniel Wodak

Northwestern University Law Review

Malapportionment—electoral districts with divergent ratios of people to representation—was ruled to be unconstitutional in a widely venerated series of cases before the Warren Court. Those cases held that a principle of political equality, one person, one vote, is required by the Constitution. But what is the content of that principle? Many Justices and commentators declare that it is vague, empty, circular, or meaningless. This creates a murder mystery. Malapportionment was killed, but by what exactly? This Article seeks an answer by focusing on the Supreme Court’s commitments about the scope and strictness of one person, one vote: it …

Torts And Pesticide Drift: Amending Right-To-Farm Acts In The Wake Of Widespread Dicamba Drift By Nicholas Brown** And Matt Roessing*

Journal of Legal Studies in Business

When crops die in a field prior to harvest, a farmer loses a portion of his salary for that year. When the cause of the crop loss is natural, farmers can usually seek compensation through crop insurance and government commodity support programs. When the crops were lost as a result of pesticide drift, these forms of compensation are not usually available to farmers.1 In order to make up for their losses, farmers can seek damages through judicial redress. For many decades, various state and federal laws have combined to complicate and at times prevent farmers adversely affected by pesticide drift …

Cover Page & Table Of Contents - Volume 23

Journal of Legal Studies in Business

JLSB vol. 23 Title Page & Table of Contents

Incorporating Tax Law Into Legal And Regulatory Environment Of Business Courses

Journal of Legal Studies in Business

No abstract provided.

Too Much, Too Little, Or Just Right? Beyond The Perception (Or Reality) Of Law School Rigor In Teaching Undergraduate Copyright Law

Journal of Legal Studies in Business

No abstract provided.

How Corporate Individualism Challenges Modern Tort Theory, Daniel Harris

University of Miami Business Law Review

According to the modern tort theory, that dominates in the legal academy, deep pocket entities that profit from facilitating harmful activity must compensate those foreseeably injured by that activity. The rationale is that allowing enterprises to externalize the costs they impose on others encourages excessively risky behavior. Therefore, cost internalization must be mandated to achieve the twin goals of tort law: compensation of tort victims and deterrence of potentially harmful conduct.

The thesis of this Article is that the academic model is misleading and incomplete. The concerns of the tort system are not limited to compensation and deterrence. Our legal …

West Flagler And The Future Of Sports Betting: Navigating Tribal Sovereignty And The Need For Consumer Protection In A Growing Market, Jake Granese

University of Miami Business Law Review

Sports betting in the United States has exploded in recent years, with a record–breaking $11 billion in revenue in 2023. This growth has inspired state governments to try to leverage this lucrative business. One recent development is the 2021 Gaming Compact between the Seminole Tribe of Florida and the state of Florida. The Compact represents a milestone towards exclusivity in mobile gaming for Native American tribal nations. Under the Compact, the Seminole Tribe receives sports betting exclusivity, for both retail sports wagering and online sports wagering across the state of Florida, in exchange for a revenue sharing arrangement—unlike any other …

The Cost Of Waiting: Navigating The Ftc’S Noncompete Ban And The Risks Of Inaction, Cameron Weiss

University of Miami Business Law Review

This Comment critically examines the Federal Trade Commission’s (FTC) now–abandoned rule that sought to ban noncompete clauses in employment contracts, emphasizing the limitations of advice provided by attorneys, legal scholars, and experts who advocate for a “wait–and–see” approach during its development and subsequent litigation. Noncompetes, while serving as a tool for employers to safeguard proprietary interests and limit competition, also restrict employee mobility and bargaining power. The FTC’s proposed rule, which aimed to ban most noncompete clauses, faced immediate and substantial legal challenges under the major questions and nondelegation doctrines.

Although the FTC ultimately ceased defending the rule and acceded …

Cryptocurrencies And Financial Crimes: The Role Of Decentralized Cryptocurrency In Facilitating Money Laundering And The Challenges Posed On Anti–Money Laundering Regulations, Jeffry A. Collins

University of Miami Business Law Review

This research examines the role of decentralized cryptocurrencies in facilitating money laundering and the challenges they pose to Anti–Money Laundering (AML) regulations through literature review and regulatory analysis. The study reveals that the decentralized, anonymous, and borderless nature of cryptocurrency enables illicit activities via cryptocurrency ATMs, mixing services, and decentralized exchanges (DEXs). For over a decade, the same regulatory problems persist today as were present at the inception of cryptocurrencies. Current AML frameworks, such as the Bank Secrecy Act and the Money Laundering Control Act, are inadequate for this decentralized ecosystem. The analysis critiques the fragmented efforts of U.S. regulatory …

Finding Law When There Is None: An Analysis Of Litigation Concerning Non–Fungible Tokens (Nfts), Shelby T. Roberts, O. Hayden Griffin, Iii

University of Miami Business Law Review

The development of new technologies tends to give rise to the same quandary: how can these technologies flourish while also protecting citizens from any collateral consequences? How much latitude and freedom should innovators be given in pursuing these technologies is often debated. Non–fungible tokens (NFTs) are one of several products that utilize blockchain technology. NFTs have been hailed by some as the future of commerce while others have derided NFTs as a scam–ridden fad. With virtually no legislation or regulations specifically designed to govern NFTs, a content analysis of litigation involving NFTs was conducted as an effort to help determine …

Crony Stakeholder Capitalism, Stefan J. Padfield

Kentucky Law Journal

No abstract provided.

Why Color-Blind Solutions Won't Solve The Racial Wealth Gap: How We Can Overcome The Constitutional Hurdles To Race Conscious Remedies In Addressing The Wealth Gap, Malik Edwards, William A. Darity Jr.

Kentucky Law Journal

No abstract provided.

The Racial Wealth Gap Is A Racial Health Gap, Aurora J. Grutman

Kentucky Law Journal

No abstract provided.

Interest Convergence And The Racial Wealth Gap: Defusing Racism's Divide-And-Conquer Via Universal Basic Income, Palma Joy Strand, Nicholas A. Mirkay

Kentucky Law Journal

No abstract provided.

Wage Enslavement: How The Tax System Holds Back Historically Disadvantaged Groups Of Americans, Goldburn P. Maynard Jr., David Gamage

Kentucky Law Journal

No abstract provided.

Inequality By Unnatural Selection: The Impact Of Tax Code Bias On The Racial Wealth Gap, Phyllis C. Tate

Kentucky Law Journal

No abstract provided.