Suppose a court holds in the context of a habeas petition that a constitutional right is not yet “clearly established.” Can we conclude from this that the right does not exist? The answer, of course, is “no”—it would be error to treat this case as having held that there is no such right.
Our regulation of the stock market is based on an antiquated statute that does not fit well with the realities of modern securities practice. Corporations hoping to access public markets are required to disclose market-moving information without charge and to all investors simultaneously.
Lawmakers respond to constituents, seek higher office, have lofty goals, and even learn from their mistakes. But do they actually make the world a better place? In this lecture, the first of this year’s Chicago’s Best Ideas series, Professor Levmore examines some aspects of lawmaking that do not make their way into the law school curriculum.