Law and Economics Commons^™

Carceral Bonds, Tyler E. Dougherty

Lewis & Clark Law Review

Over the past 50 years, the U.S. financed a massive physical and fiscal expansion of prisons via the municipal bond market—with devastating results. This project is the first to shine a light on the role of municipal debt in state-level carceral decision making, spotlighting the ways that the municipal bond market affects states’ capacities to incarcerate.

This Article argues that the two primary controls of states’ use of the carceral bond market—(1) market discipline and (2) states’ fiscal constitutions—are particularly ineffective at limiting states’ spending on prisons. This failure to restrain states’ spending through the carceral bond market enables private …

Retirement (In)Security: A Closer Look Into The United States' Retirement Crisis, Josepheen Strauss

Lewis & Clark Law Review

The retirement system in the United States is typically thought to consist of Social Security, pension plans, and personal savings. Despite the availability of various methods to save money, Americans are struggling more than ever to adequately prepare for retirement. This Note examines the current structure of the retirement system in the United States and the shortcomings of the system as it stands today. This Note proposes changes that re-envision the United States’ current retirement system to allow Americans to maximize their retirement savings during their time in the work force, with the hopes of allowing retirees to start their …

Redefining The Relevant Market: Abandonment Or Return To Brown Shoe, Daniel A. Hanley

Dickinson Law Review (2017-Present)

Defining a relevant market is arguably the most important requirement in antitrust litigation. Between the 1890s and the 1940s, defining a relevant market was a simple and generalized process, typically undertaken by courts as a cursory matter. However, in the 1960s, defining relevant markets became a centerpiece of antitrust litigation. The modern method originates from the Supreme Court’s landmark 1962 decision in Brown Shoe v. United States. The method commonly known as the Brown Shoe test requires judges to construct relevant markets by carefully analyzing accessible and understandable qualitative data, such as internal corporate documents and consumer surveys. Since the …

The Deferential Asian American: Low Racial Status And The Invisibility Of Asian Americans In Leadership And The American Narrative, Reginald Oh

Law Faculty Articles and Essays

This Article will proceed in five parts. First, an important caveat. When the Article refers to Asian Americans, it refers to all Asian American subgroups except for South Asian Americans, because South Asian Americans are not perceived to be deferential in the same way as other Asian American subgroups. Consequently, their experience with leadership is unique among Asian Americans, and much of the analysis in this Article does not apply to them.

With that caveat, Part I will discuss the invisibility of Asian Americans generally, but particularly in leadership positions. Part II will discuss the concept of social status bias …

Taxing People, Not Residents, Yariv Brauner

UF Law Faculty Publications

Essentially all states tax their residents’ worldwide income. This norm is difficult to justify beyond vague notions of state provided benefits enjoyed by residents. Recent increased mobility (particularly tax-motivated mobility of wealthy individuals) and the growing importance of remote work and digital nomadism present a serious challenge to this linking of residence and taxing rights. This article examines whether exclusive source taxation of individuals could replace the existing rules which are based on a compromise between residence and source taxation. The article concludes that exclusive source taxation of individuals is both feasible and desirable, mainly due to its fairness and …

On Guido Calabresi, Roger K. Newman

Touro Law Review

Few individuals have had as long and as influential a career in law as Guido Calabresi. Cofounder of the field of law and economics, teacher, dean, and judge, he has inspired (and infuriated) multitudes. On the United States Court of Appeals for the Second Circuit, where he has served for thirty years (while continuing to teach until recently), his creativity and doctrinal innovations continue apace. He has urged the academy, legislature, and bench alike to engage in continuing conversation to improve the law and its effect upon those to whom it acts. One of these areas is certification—the practice of …

Rowling Record 2025, The Robert B. Rowling Center For Business Law & Leadership

Rowling Record

No abstract provided.

The Failings Of Post-War Japanese Antitrust Reforms, Gregory Hayes

Northwestern Journal of International Law & Business

This paper discusses the antitrust reform measures taken during the occupation of Japan following the end of World War II. These antitrust reforms included the dissolution of the zaibatsu business groups and the adoption of the Antimonopoly Act. However, the trust-busting and antitrust measures taken by Japan failed to prevent the eventual rise of keiretsu business groups and lower the concentration of corporate ownership in Japan. The primary reasons behind this failure were the inability of the reformers to fully dismantle the zaibatsu business groups and the changing priorities of the reformers due to the growing threat of the spread …

Judging Judiciaries: How Sticky Defaults, Status Quo Bias, And The Sovereign Prerogative Influence The Perceived Legitimacy Of The New International Commercial Courts, S. I. Strong

Faculty Articles

Forum shopping is routinely criticized as contrary to procedural justice. However, recent years have seen an increasing number of jurisdictions engaged in the process of forum selling, in which countries actively seek to bring lucrative litigation business to their national judicial systems. One of the most common types of forum selling involves the creation of new international commercial courts designed to increase a nation’s competitiveness in the global litigation market.

Most studies of the new international commercial courts have focused on how procedural innovations adopted by different courts are likely to affect party choice. While useful, these analyses assume that …

Patents Used In Patent Office Rejections As Indicators Of Value, Christopher A. Cotropia, David L. Schwartz

Law Faculty Publications

This paper introduces a novel approach to measure a patent's economic value by examining whether the patent's disclosure leads to rejection of another pending US patent application. This approach considers the use of the patent by the US Patent and Trademark Office (USPTO) in office action rejections on the grounds of novelty or obviousness, as well as its citation as an X or Y reference in a European Patent Office (EPO) search report, which provides analogous information. Unlike conventional citation metrics widely employed by economists, the novel metric is arguably more closely tied to private value, as it is centered …

Individual Academic Freedom And The Current Forces Of Economics And Technology, George R. Wright

FIU Law Review

There are always a number of cultural constraints on higher education institutions. Such cultural constraints always matter. But sometimes, as in our day, such constraints are especially severe. These constraints are broadly economic; more specifically market-based; and technological in nature. They operate on public and private universities and on law schools in particular. Our concern herein is for such constraints in the many cases in which a faculty member’s speech on some matter of public interest arguably impairs a legitimate interest of the employer-university or law school. The weight of the educational institution’s interests in such academic speech cases is, …

Under New Management?: Sovereign Wealth Funds And Their Ownership Of U.S. Sports Teams, Benjamin K. Moyer

Dickinson Law Review (2017-Present)

In October 2021, Saudi Arabia’s sovereign wealth fund (“SWF”) successfully purchased the English Premier League soccer team Newcastle United F.C. for $400 million. With this transaction, Saudi Arabia joined fellow Gulf countries, Qatar and the United Arab Emirates, in owning a major European soccer team through one of its state’s SWF. States have long used their SWFs to invest in foreign markets, but recent trends have transformed these originally strictly financial vehicles into political tools. Since the 2007–2008 financial crisis, many states have used their SWFs not only to produce financial gains but also to generate soft power through political …

The Last Line Of A Weak Defense: The Waning Force Of The Ncaa's Procompetitive Defense Of Amateurism In § 1 Compensation Challenges, Morgan Small

American University Law Review

The Supreme Court in NCAA v. Alston determined that the NCAA’s education-related compensation restrictions violated § 1 of the Sherman Act. The Court, however, did not scrutinize the legality of the NCAA’s athletic-related compensation restrictions, begging the question: when will the Supreme Court, if ever, stop presuming the validity of the NCAA’s athletic-related compensation restrictions because they allegedly ensure that college athletics remain amateur?

This Comment examines this question in further detail by cataloging the Court’s antitrust jurisprudence involving § 1 compensation challenges and what this jurisprudence may spell for future litigation in a college athletics landscape increasingly defined by …

Values-Ambiguous Clinics, Willow Tracy

Scholarly Works

As law school clinical programs have grown in recent decades, many of the newer offerings focus on business law, entrepreneurship, intellectualproperty, and technology. It is commonly presumed that social justice values, such as the amelioration ofpoverty or theprotection offundamental rights, are notfoundational goals of these non-traditional clinics. This Article calls these clinics "values-ambiguous" to highlight the frequent uncertainty and skepticism about their relationship to traditional clinical social justice values. Importantly, "values-ambiguous"does not describe a quality of the clinic itself it describes a quality ofperception of the clinic. In other words, "values-ambiguous clinics" are clinics that are typically not perceived as …

Riding The Silver Tsunami In Pursuit Of Economic Democracy, Julie C. Cortes

Akron Law Faculty Publications

The “American Dream,” a national ethos centered on the belief in equal opportunity and upward socio-economic mobility through hard work, has evolved significantly over time. Originally, it embodied ideals of liberty, justice, and economic democracy, opposing excessive wealth accumulation and economic inequality. However, over the 20th century, it became synonymous with individual economic success, particularly represented by Baby Boomers who thrived in the post-World War II economic boom. Today, Americans face an increasingly wide income and wealth gap that echoes the conditions of the late 19th and early 20th centuries, raising questions about the Dream’s accessibility and relevance. This Article …

Introduction, Sydney Gass

FIU Law Review

No abstract provided.

Climate Finance Needs More Market Discipline, Richard Morrison

FIU Law Review

The market for climate and sustainability-driven products and services is potentially very large and thus attractive to many investors and entrepreneurs. However, its current reliance on public subsidies and capital flows is a significant weakness that often goes unacknowledged.

Constitutionalizing Climate Rights, Mark Nevitt

FIU Law Review

No abstract provided.

The Effectiveness Of The Minnesota Buffer Law And Its Impacts On People, Ellen P. Isakson

Journal of Earth and Life Science

In January 2015, the then-governor of Minnesota Mark Dayton announced new legislation that would require 50-foot vegetation buffers along all waterways in Minnesota; this legislation would come to be known as the Minnesota buffer law, exact requirements being “perennial vegetative buffers of up to 50 feet along lakes, rivers, and streams and buffers of 16.5 feet along ditches” (Albert, 2017; MN Board of Water and Soil Resources [MN BWSR] 4 ). A buffer in the context of vegetation and natural resource management is a strip of vegetation around a body of water “designed to intercept stormwater runoff and minimize soil …

Asking The Right Questions About Legal Finance In United States Aggregate Dispute Resolution, J. Maria Glover

Georgetown Law Faculty Publications and Other Works

Third-party legal finance is one of the most controversial modern developments in civil justice, both in the United States and across the globe. It is particularly controversial when mentioned in the same breath as aggregate litigation. Current debate trains on a series of repeated questions: whether and how to ban litigation finance in aggregate litigation; whether the use of litigation finance should be disclosed in discovery; and whether litigation finance is allowed under various (and often ancient) legal doctrines. Obscured from view is what I believe to be the most fundamental question: What is the proper role of litigation finance …