This discussion between Professor of Law M. Todd Henderson and Richard L. Sandor, (CEO, Environmental Financial Products, LLC, and Lecturer in Law at the University of Chicago Law School) was sponsored by the Law School and Chicago Booth School of Business and was recorded on April 17, 2012.
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?
As the economies of both the United States and the European Union sputter along, political leaders continue to put forward the false choice between austerity and growth, without attending to the serious structural issues that have long plagued both of these major economies.
Rich in unintended commercial irony, Thomas Friedman proudly proclaimed in the New York Times this weekend that “This Column is Sponsored by No One.” He then went on to give a huge publicity boost to his childhood frie