Rate regulation today is often conceived of as an exotic topic of interest only to a select group of pointy-headed specialists. But the truth is quite the opposite. The history of rate regulation raises some of the most fundamental challenges to the organization of a free society.
The question of how to structure and package the residential experience is a deeply interesting and difficult one. How physically large or small should residential holdings be? How densely should they be clustered? Should spaces for working, recreating, cooking, and bathing be contained within the private residential unit, shared with other households, or procured a la carte?
Two Chicago Law professors are now Directors of the American Law and Economics Association (ALEA), joining three of their Law School colleagues already in leadership roles with the field-leading organization.
A popular type of consumer transaction is called "No Contract." Businesses lure consumers with the "no contract" assurance - a promise that consumer can walk away anytime, without any commitment. This scheme is increasingly common in cable and phone services, health clubs, security services, and other transactions that used to require minimum duration. What is a “No Contract” contract?
The past several weeks have given rise to two First Amendment cases of great interest, each of which involves the extent to which the state can seek to control the messages that ordinary people and firms deliver to the public at large.
Constitutional lawyers tend to study constitutions as sets of legal rules and judicial decisions. But written constitutions are also products, with different design features: they can be more or less detailed, innovative, or ambitious; they can be produced in a more or less inclusive manner; and they can have a short-term expiration date or be designed for the long haul.
My last column for Defining Ideas, “Franklin Delano Obama,” stressed the dangers of Franklin Roosevelt’s “Second Bill of Rights,” which was long on rights but short on any articulation of their correlative duties.
A treaty satisfies what we call International Paretianism if it advances the interests of all states that join it, so that no state is made worse off. The principle might seem obvious, but it rules out nearly all the major proposals for a climate treaty, including proposals advanced by academics and by government officials.