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New on SSRN: Kobayashi and Ribstein on private lawmaking
The paper, with Kobayashi, is Law As A Byproduct: Theories Of Private Law Production. Here’s the abstract: Public lawmakers lack incentives to engage in a socially optimal amount of legal innovation. Private lawmaking is a potential solution to this problem. However, private lawmaking faces a dilemma: In order to be effective privately produced laws need ... New on SSRN: Kobayashi and Ribstein on private lawmaking
LLCs vs. corporations: explaining state variations in formations
The literature on the state “market” for LLC law is growing. Bruce Kobayashi and I published what I would modestly call the leading study (K & R) on jurisdictional competition for LLCs. There is also an unpublished study to which our article is in part a response by Dammann & Schündeln (D & S). Now there’s ... LLCs vs. corporations: explaining state variations in formations
The NYT misses the point about law schools
Today’s NYT is among the last news outlets in the universe to discover the story of legal education being overpriced for today’s job market. The article tells the tale of how NYLS’s outgoing Dean Richard Matasar, after years of lecturing about the need to reform legal education to better address its market, succumbs to legal ... The NYT misses the point about law schools
Next Friday: Debating lawyer licensing in L.A.
Here’s the info. Some of my writing is here and here. This is one of the big regulatory issues of our time. It’s not just about who makes how much money, but access to justice. The current system of compulsory licensing for the practice of law is doomed. The question is not whether it will ... Next Friday: Debating lawyer licensing in L.A.
Hot off the press: Fencing Fiduciary Duties
My article, Fencing Fiduciary Duties, has just appeared in a B.U. Law Review symposium. Here’s the abstract: This comment on the work of Professor Tamar Frankel builds on her encyclopedic discussion of the various types of duties that have been classified as “fiduciary.” I argue for a more precise definition and more limited application of ... Hot off the press: Fencing Fiduciary Duties
It’s baaack: The Shareholder Protection Act
The Shareholder Protection Act been reintroduced in Congress, and Lucian Bebchuk still likes it. He and Robert Jackson wrote an article defending the basic idea, which Bebchuk describes as to “establish special corporate-governance rules for deciding when corporate resources may be spent on politics.” He admits “the bill is unlikely to be adopted during this ... It’s baaack: The Shareholder Protection Act
Searching for Antitrust Remedies, Part II
In the last post, I discussed possible characterizations of Google’s conduct for purposes of antitrust analysis. A firm grasp of the economic implications of the different conceptualizations of Google’s conduct is a necessary – but not sufficient – precondition for appreciating the inconsistencies underlying the proposed remedies for Google’s alleged competitive harms. In this post, ... Searching for Antitrust Remedies, Part II
Searching for Antitrust Remedies, Part I
This is part one of a two part series of posts in which I’ll address the problems associated with discerning an appropriate antitrust remedy to alleged search engine bias. The first problem – and part – is, of course, how we should conceptualize Google’s allegedly anticompetitive conduct; in the next part, I will address how ... Searching for Antitrust Remedies, Part I
Josh and I make the big leagues
Cited today by Gordon Crovitz in the Wall Street Journal: Instead of letting consumers choose, other search companies including Microsoft are funding FairSearch.org to lobby regulators and politicians to stop what it calls “Google’s march toward an ‘unregulatable monopoly.'” Legal academics Geoffrey Manne and Joshua Wright wrote a recent article entitled “If Search Neutrality is ... Josh and I make the big leagues
FCC Competition Report is one green light for AT&T-T-Mobile deal
BY LARRY DOWNES AND GEOFFREY A. MANNE The FCC published in June its annual report on the state of competition in the mobile services marketplace. Under ordinary circumstances, this 300-plus page tome would sit quietly on the shelf, since, like last year’s report, it ‘‘makes no formal finding as to whether there is, or is ... FCC Competition Report is one green light for AT&T-T-Mobile deal
The SEC under judicial supervision
You may remember Rajat Gupta, the former GS and P & G director the SEC accused in a March 1 administrative order of tipping inside info to Rajatnaram. I have previously discussed the many peculiarities of that case, including the fact that the SEC chose this as the first insider trading case (and the first ... The SEC under judicial supervision
Impractical law schools
The WSJ reports today on how “some law schools are throwing out decades of tradition by replacing textbook courses with classes that teach more practical skills.” Examples from the article: IU’s courses on “project management” and “emotional intelligence;” NYLS’s courses in “negotiation, counseling and fact investigation;” W & L’s new third year curriculum replacing “lectures ... Impractical law schools
