As the Russia-Ukraine conflict continues and the amount of destruction to lives and property grows exponentially, a question that has come up is... MORE
The US Treasury might have made a mistake in its eagerness to trigger a Russian default
Some countries are unable to pay their debts because they don... MORE
My colleague Philip Zelikow has written a thoughtful response to my recent post on this site. I endorse much of what he says. In that post, I had... MORE
An implication of the incompleteness of contracts is that there are going to be gaps and ambiguities that either side can exploit. We ask whether the... MORE
As China reformed its economy during the past 44 years, it experienced the fastest sustained expansion by a major economy in history, with an annual... MORE
People sometimes want to harm other people. This truism points to a blind spot in law and economics scholarship, which generally assumes that people... MORE
The first part of this chapter describes the rise of transborder antibribery law in this century against the background of its twentieth century... MORE
Shareholder derivative litigation is often critiqued as costly to firms Special litigation committees have been devised as a means to dismiss low-... MORE
Lenders are perfectly free to decide for themselves whether, when, how, to whom and on what terms they will extend credit to a sovereign borrower.... MORE
When individuals are arrested or indicted for a crime, governments have legitimate interests in assuring that those individuals show up for future... MORE
In this essay, we review criticisms of both the concept of international tax arbitrage and regulatory responses meant to reduce such arbitrage. We... MORE
We explore how adding pro-social preferences to the canonical precaution model of accidents changes either the efficient damages rule or the harm... MORE
Most environmental statutes passed since 1970 have endorsed a pragmatic or 'precautionary' principle under which the existence of a significant risk... MORE
This paper, published as Chapter 16 in Johnston, Climate Rationality (CUP 2021), explains how the U.S. government has derived its estimates of the... MORE
ESG investing is growing explosively, and the interest in ESG investing by retail investors continues to increase. A substantial proportion of retail... MORE
