An interesting and influential passage, most recently quoted by Judge Posner in United States v. Phillips (7th Cir. Sept. 4, 2013), but long discussed in the legal interpretation literature (some paragraph breaks added): Let us take an instance of the simplest kind, to show in what degree we are continually obliged to resort to interpretation. […]
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Coase on Contemporary Economics
One of Ronald Coase’s last essays was a short co-authored piece in the Harvard Business Review lamenting the current state of academic economics. Here’s a snippet: In the 20th century, economics consolidated as a profession; economists could afford to write exclusively for one another. At the same time, the field experienced a paradigm shift, gradually […]
Duquesne Invites Geraldo Rivera to Be on Panel, then Revokes the Invitation …
because Rivera had posted a picture of himself shirtless on Twitter. No, really, he had, and Duquesne did. Duquesne had invited Rivera to participate in a symposium on the 50th anniversary of President Kennedy’s assassination, apparently because Rivera was the first to air (in 1975) the Zapruder film of the assassination. Then it disinvited him, […]
Can the Police Go to the Front Door of a Home Marked With “No Trespassing” Signs?
In Florida v. Jardines, 133 S.Ct. 1409 (2013), the Supreme Court indicated that a police officer’s right to walk up to a front door of a person’s home is subject to an implied license based on existing social norms. Going on to the property and approaching the front door is a physical intrusion onto the […]
Henderson on Coase
In Wednesday’s WSJ economist David Henderson has an op-ed on Ronald Coase’s legacy. As henderson notes, the primary thrust of Coase’s work was a rejection of “Blackboard economics” in favor of careful examinations of the real world, with a particular focus on institutions. This was the theme that unified his work across various subjects. Although […]
Introducing Guest Blogger Josh Blackman
I wish to welcome Josh Blackman as a guest blogger this week Josh is an Assistant Professor of Law at the South Texas College of Law, and author of Unprecedented: The Constitutional Challenge to Obamacare. It is a marvelous book describing the constitutional challenge to the Affordable Care Act based on extensive interviews with all the major players. […]
Forbes.com Column on the Credit Card Interchange Fee Antitrust Litigation Settlement
I have a column at Forbes.com today on the upcoming hearing on the preliminary settlement of the longstanding litigation regarding credit card interchange fees: “Set Visa, MasterCard and Markets Free: Approve the Credit Card Interchange Fee Settlement.” (My apologies: My original post had both a glitch in my syntax and a bad link. I hope […]
Ellickson’s “Case for Coase”
One of my favorite articles about the work of Ronald Coase is Robert Ellickson’s “The Case for Coase and Against Coaseanism.” Here is a portion of the introduction: Poor Ronald Coase. In an introductory essay to a recently published collection of his articles, Coase laments his lack of influence among economists. “My point of view […]
Coase
I wanted to add a few words on the passing of Ronald Coase. “The Problem of Social Cost” is the most frequently-cited law review article of all time (another count)–and its not even close. That pretty much says it all in terms of his well-deserved fame and influence. But the amazing thing to me is […]
Ronald Coase R.I.P.
I am stunned and saddened to learn that Nobel Laureate economist Ronald Coase has died. As the author of such seminal works as “The Lighthouse in Economics,” “The Nature of the Firm, ” and “The Problem of Social Cost,” Coase was one of the most influential thinkers of his generation. (See also Brian Leiter’s comment […]
Events in Salt Lake City and Chicago Next Week
If you’re in Salt Lake City, you might be interested in this event: Next Thursday at noon, I’ll be speaking at a CLE luncheon for the Constitutional Law Section of the Utah Bar. I’ll be joined by co-conspirator and University of Utah law professor Paul Cassell, as well as professors Carissa Hessick and Amy Wildermuth, […]
“Nine Questions About Syria You Were Too Embarrassed To Ask”
A very helpful explanation from Max Fisher at The Washington Post. From the introduction: The United States and allies are preparing for a possibly imminent series of limited military strikes against Syria, the first direct U.S. intervention in the two-year civil war, in retaliation for President Bashar al-Assad’s suspected use of chemical weapons against civilians. […]
Pawn Shops Boom as Consumer Retail Banking Retreats
Well, its not like I didn’t predict that a boom time for pawn shops would be coming in the wake of the Durbin Amendment, Credit Card Act, restrictions on overdraft protection, CFPB, etc. And now the New York Times reports that the past few years have in fact boomed as an increasing number of consumers, […]
It’s a Been a Hard Day for Distinguishing the Satirical Pieces from the Real Ones
So says my friend Walter Olson. Here are two examples: (1) Slate: If You Send Your Kid to Private School, You Are a Bad Person “Reading Walt Whitman in ninth grade changed the way you see the world? Well, getting drunk before basketball games with kids who lived at the trailer park near my house […]
John Taylor On Preserving the Rule of Law in Times of Crisis
John Taylor of the Hoover Institution has a short post linking to an interview and his new book on rules-based economic policy. One of his 5 principles is the importance of preserving the rule of law in times of crisis, with some kind words for my article on that theme. Click through to the interview, […]