The Failure Of Judges And The Rise Of Regulators

Author : Andrei Shleifer
Publisher : MIT Press
ISBN 13 : 0262529521
Total Pages : 0 pages
Book Rating : 4.25/5 ( download)

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Download or read book The Failure of Judges and the Rise of Regulators written by Andrei Shleifer and published by MIT Press. This book was released on 2016-03-25 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: A noted economist argues that the ubiquity of regulation can be explained by its greater efficiency when compared to litigation. Government regulation is ubiquitous today in rich and middle-income countries—present in areas that range from workplace conditions to food processing to school curricula—although standard economic theories predict that it should be rather uncommon. In this book, Andrei Shleifer argues that the ubiquity of regulation can be explained not so much by the failure of markets as by the failure of courts to solve contract and tort disputes cheaply, predictably, and impartially. When courts are expensive, unpredictable, and biased, the public will seek alternatives to dispute resolution. The form this alternative has taken throughout the world is regulation. The Failure of Judges and the Rise of Regulators gathers Shleifer's influential writings on regulation and adds to them a substantial introductory essay in which Shleifer critiques the standard theories of economic regulation and proposes “the Enforcement Theory of Regulation,” which sees regulation as the more efficient strategy for social control of business. Subsequent chapters present the theoretical and empirical case against the efficiency of courts, make the historical and theoretical case for the comparative efficiency of regulation, and offer two empirical studies suggesting circumstances in which regulation might emerge as an efficient solution to social problems. Shleifer does not offer an unconditional endorsement of regulation and its expansion but rather argues that it is better than its alternatives, particularly litigation. Contributors Nicola Gennaioli, Anthony Niblett, Richard A. Posner, Simeon Djankov, Rafael La Porta, Florencio Lopez-de-Silanes, Edward L. Glaeser, Simon Johnson, Casey B. Mulligan

Author : Daniel P. Kessler
Publisher : University of Chicago Press
ISBN 13 : 0226432181
Total Pages : 344 pages
Book Rating : 4.82/5 ( download)

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Download or read book Regulation Versus Litigation written by Daniel P. Kessler and published by University of Chicago Press. This book was released on 2011-02 with total page 344 pages. Available in PDF, EPUB and Kindle. Book excerpt: The efficacy of various political institutions is the subject of intense debate between proponents of broad legislative standards enforced through litigation and those who prefer regulation by administrative agencies. This book explores the trade-offs between litigation and regulation, the circumstances in which one approach may outperform the other, and the principles that affect the choice between addressing particular economic activities with one system or the other. Combining theoretical analysis with empirical investigation in a range of industries, including public health, financial markets, medical care, and workplace safety, Regulation versus Litigation sheds light on the costs and benefits of two important instruments of economic policy.

Author : Aziz Z. Huq
Publisher : Oxford University Press
ISBN 13 : 0197556817
Total Pages : 193 pages
Book Rating : 4.18/5 ( download)

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Download or read book The Collapse of Constitutional Remedies written by Aziz Z. Huq and published by Oxford University Press. This book was released on 2021 with total page 193 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This book describes and explains the failure of the federal courts of the United States to act and to provide remedies to individuals whose constitutional rights have been violated by illegal state coercion and violence. This remedial vacuum must be understood in light of the original design and historical development of the federal courts. At its conception, the federal judiciary was assumed to be independent thanks to an apolitical appointment process, a limited supply of adequately trained lawyers (which would prevent cherry-picking), and the constraining effect of laws and constitutional provision. Each of these checks quickly failed. As a result, the early federal judicial system was highly dependent on Congress. Not until the last quarter of the nineteenth century did a robust federal judiciary start to emerge, and not until the first quarter of the twentieth century did it take anything like its present form. The book then charts how the pressure from Congress and the White House has continued to shape courts behaviour-first eliciting a mid-twentieth-century explosion in individual remedies, and then driving a five-decade long collapse. Judges themselves have not avidly resisted this decline, in part because of ideological reasons and in part out of institutional worries about a ballooning docket. Today, as a result of these trends, the courts are stingy with individual remedies, but aggressively enforce the so-called "structural" constitution of the separation of powers and federalism. This cocktail has highly regressive effects, and is in urgent need of reform"--

Author : Luke Garrod
Publisher : MIT Press
ISBN 13 : 0262046202
Total Pages : 303 pages
Book Rating : 4.06/5 ( download)

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Download or read book Hub-and-Spoke Cartels written by Luke Garrod and published by MIT Press. This book was released on 2021-11-16 with total page 303 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first comprehensive economic and legal analysis of hub-and-spoke cartels, with detailed case studies. A cartel forms when competitors conspire to limit competition through coordinated actions. Most cartels are composed exclusively of firms that would otherwise be in competition, but in a hub-and-spoke cartel, those competitors (“spokes”) conspire with the assistance of an upstream supplier or a downstream buyer (“hub”). This book provides the first comprehensive economic and legal analysis of hub-and-spoke cartels, explaining their formation and how they operate to create and sustain a collusive environment. Sixteen detailed case studies, including cases brought against toy manufacturer Hasbro and the Apple ebook case, illustrate the economic framework and legal strategies discussed. The authors identify three types of hub-and-spoke cartels: when an upstream firm facilitates downstream firms to coordinate on higher prices; when a downstream intermediary facilitates upstream suppliers to coordinate on higher prices; and when a downstream firm facilitates upstream suppliers to exclude a downstream rival. They devote a chapter to each type, discussing the formation, coordination, enforcement, efficacy, and prosecution of these cartels, and consider general lessons that can be drawn from the case studies. Finally, they present strategies for prosecuting hub-and-spoke collusion. The book is written to be accessible to both economists and lawyers, and is intended for both scholars and practitioners.

Author : Eric C. Ip
Publisher : Edward Elgar Publishing
ISBN 13 : 1788110242
Total Pages : 192 pages
Book Rating : 4.42/5 ( download)

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Download or read book Judging Regulators written by Eric C. Ip and published by Edward Elgar Publishing. This book was released on 2020-10-30 with total page 192 pages. Available in PDF, EPUB and Kindle. Book excerpt: Drawing insights from economics and political science, Judging Regulators explains why the administrative law of the US and the UK has radically diverged from each other on questions of law, fact, and discretion.

Author : Simeon Djankov
Publisher : World Bank Publications
ISBN 13 : 9780821353417
Total Pages : 222 pages
Book Rating : 4.11/5 ( download)

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Download or read book Doing Business in 2004 written by Simeon Djankov and published by World Bank Publications. This book was released on 2004 with total page 222 pages. Available in PDF, EPUB and Kindle. Book excerpt: A co-publication of the World Bank, International Finance Corporation and Oxford University Press

Author : John Braithwaite
Publisher : Edward Elgar Publishing
ISBN 13 : 1848441266
Total Pages : 261 pages
Book Rating : 4.62/5 ( download)

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Download or read book Regulatory Capitalism written by John Braithwaite and published by Edward Elgar Publishing. This book was released on 2008 with total page 261 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this sprawling and ambitious book John Braithwaite successfully manages to link the contemporary dynamics of macro political economy to the dynamics of citizen engagement and organisational activism at the micro intestacies of governance practices. This is no mean feat and the logic works. . . Stephen Bell, The Australian Journal of Public Administration Everyone who is puzzled by modern regulocracy should read this book. Short and incisive, it represents the culmination of over twenty years work on the subject. It offers us a perceptive and wide-ranging perspective on the global development of regulatory capitalism and an important analysis of points of leverage for democrats and reformers. Christopher Hood, All Souls College, Oxford, UK It takes a great mind to produce a book that is indispensable for beginners and experts, theorists and policymakers alike. With characteristic clarity, admirable brevity, and his inimitable mix of description and prescription, John Braithwaite explains how corporations and states regulate each other in the complex global system dubbed regulatory capitalism. For Braithwaite aficionados, Regulatory Capitalism brings into focus the big picture created from years of meticulous research. For Braithwaite novices, it is a reading guide that cannot fail to inspire them to learn more. Carol A. Heimer, Northwestern University, US Reading Regulatory Capitalism is like opening your eyes. John Braithwaite brings together law, politics, and economics to give us a map and a vocabulary for the world we actually see all around us. He weaves together elements of over a decade of scholarship on the nature of the state, regulation, industrial organization, and intellectual property in an elegant, readable, and indispensable volume. Anne-Marie Slaughter, Princeton University, US Encyclopedic in scope, chock full of provocative even jarring claims, Regulatory Capitalism shows John Braithwaite at his transcendental best. Ian Ayres, Yale Law School, Yale University, US Contemporary societies have more vibrant markets than past ones. Yet they are more heavily populated by private and public regulators. This book explores the features of such a regulatory capitalism, its tendencies to be cyclically crisis-ridden, ritualistic and governed through networks. New ways of thinking about resultant policy challenges are developed. At the heart of this latest work by John Braithwaite lies the insight by David Levi-Faur and Jacint Jordana that the welfare state was succeeded in the 1970s by regulatory capitalism. The book argues that this has produced stronger markets, public regulation, private regulation and hybrid private/public regulation as well as new challenges such as a more cyclical quality to crises of market and governance failure, regulatory ritualism and markets in vice. However, regulatory capitalism also creates opportunities for better design of markets in virtue such as markets in continuous improvement, privatized enforcement of regulation, open source business models, regulatory pyramids with networked escalation and meta-governance of justice. Regulatory Capitalism will be warmly welcomed by regulatory scholars in political science, sociology, history, economics, business schools and law schools as well as regulatory bureaucrats, policy thinkers in government and law and society scholars.

Author : Catherine Mitchell
Publisher : Cambridge University Press
ISBN 13 : 1009084909
Total Pages : 259 pages
Book Rating : 4.01/5 ( download)

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Download or read book Vanishing Contract Law written by Catherine Mitchell and published by Cambridge University Press. This book was released on 2022-09-01 with total page 259 pages. Available in PDF, EPUB and Kindle. Book excerpt: English contract law provides the invisible framework that underpins and enables much contracting activity in society, yet the role of the law in policing many of our contracts now approaches vanishing point. The methods by which contracts come into existence, and notionally create binding obligations, have transformed over the past forty years. Consumers now enter into contracts through remote and automated processes on standard terms over which they have little control. This book explores the substantive weakening of the institution of contract law in a society heavily dependent on contracts. It considers significant areas of contracting activity that affect many people, but that escape serious and sustained legal scrutiny. An accessibly written and succinct account of contract law's past, present and future, it assesses the implications of a diminished contract law, and the possibilities, if any, for its revival.

Author : George Joseph Stigler
Publisher :
ISBN 13 :
Total Pages : 216 pages
Book Rating : 4.26/5 ( download)

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Download or read book The Theory of Competitive Price written by George Joseph Stigler and published by . This book was released on 1946 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Author : Daniel Carpenter
Publisher : Cambridge University Press
ISBN 13 : 1107036089
Total Pages : 531 pages
Book Rating : 4.86/5 ( download)

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Download or read book Preventing Regulatory Capture written by Daniel Carpenter and published by Cambridge University Press. This book was released on 2014 with total page 531 pages. Available in PDF, EPUB and Kindle. Book excerpt: Leading scholars from across the social sciences present empirical evidence that the obstacle of regulatory capture is more surmountable than previously thought.