{"title":"Reimagining Governance Through the Role of Law","authors":"L. López-Calva","doi":"10.7591/cornell/9781501759383.003.0011","DOIUrl":"https://doi.org/10.7591/cornell/9781501759383.003.0011","url":null,"abstract":"This chapter looks at the ideas presented in the previous chapters through the lens of the “functionalist” approach to law developed in the World Development Report 2017 on Governance and the Law (World Bank 2017). That report had attracted a huge amount of attention from both policymakers and the academic community. The chapter argues that although we use the word “law” in a rather generic fashion, in reality, there are various types of laws, and it is important to classify them. It shows that laws often have a hierarchy. They can be ground-level rules pertaining to how individuals relate to one another, and at the other extreme, they can be rules about how rules are to be created and enforced. The chapter also draws special attention to understanding the role of law as an instrument for resolving disputes and contestation. During major shifts in technology, such as the one the world is witnessing now, this becomes key to the peaceful resolution of conflict.","PeriodicalId":159015,"journal":{"name":"Law, Economics, and Conflict","volume":"32 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-08-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124502153","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"10. Reimagining Governance through the Role of Law: A Perspective from the World Development Report 2017","authors":"L. López-Calva, K. Bolch","doi":"10.1515/9781501759284-011","DOIUrl":"https://doi.org/10.1515/9781501759284-011","url":null,"abstract":"","PeriodicalId":159015,"journal":{"name":"Law, Economics, and Conflict","volume":"111 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-08-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124109499","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"New Technology, Increasing Returns, and the End of the Antitrust Century","authors":"K. Basu","doi":"10.7591/cornell/9781501759383.003.0007","DOIUrl":"https://doi.org/10.7591/cornell/9781501759383.003.0007","url":null,"abstract":"This chapter argues that the changing modalities of production, inspired by the digital revolution, are fundamentally altering our capacity to use antitrust laws and nurture competition without severely damaging productivity. It develops the idea of “vertically serrated” markets. The chapter then characterizes the equilibrium of these vertically serrated industries. It shows how there will be a tendency for all surplus to collect in few hands and for a possible exacerbation of price discrimination. The chapter also demonstrates how, thanks to increasing returns to scale, it is difficult to use antitrust laws to curb these inequities. It closes with a discussion of how we may have to use other kinds of laws, including those pertaining to dispersed shareholdings and profit sharing to take on this new challenge of our times.","PeriodicalId":159015,"journal":{"name":"Law, Economics, and Conflict","volume":"64 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-08-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115903626","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Fighting Corruption in China","authors":"Cheryl X. Long","doi":"10.7591/cornell/9781501759383.003.0004","DOIUrl":"https://doi.org/10.7591/cornell/9781501759383.003.0004","url":null,"abstract":"This chapter investigates law and economics in contemporary China. Under Xi Jinping, there has been a bigger effort to control corruption than has been witnessed in a very long time in China. More government officials were arrested on charges of corruption during the four years preceding 2018 than in the four decades before that. However, the number of arrests in itself cannot automatically be treated as an indicator of success. In countries with complex laws and regulations, where virtually everybody, knowingly or unwittingly, infringes some laws, corruption control can easily become an instrument for silencing dissent and opposition. There is the further problem of corruption control damaging legitimate business and trade, because people become overly cautious and desist from making decisions. This can drive some of the corrupt activities deeper underground and create the illusion of greater success than is warranted. It can also slow down growth.","PeriodicalId":159015,"journal":{"name":"Law, Economics, and Conflict","volume":"7 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-08-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123710145","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Why Economics is a Moral Science","authors":"G. Giraud","doi":"10.7591/cornell/9781501759383.003.0009","DOIUrl":"https://doi.org/10.7591/cornell/9781501759383.003.0009","url":null,"abstract":"This chapter addresses the role our moral preferences play in our choices. Specifically, what is the relation between economics and moral science? At first sight, there seems to be a sharp contrast between the way human beings make moral choices and the way in which homo oeconomicus makes individual choices. The former is meant to be made from behind the veil of ignorance or with the objectivity of impartial spectator and is subject to contestation, whereas the latter is a person's personal preference and not a matter of contestation. However, there are connections between ethical preferences behind the veil of ignorance and personal preferences. The chapter then shows how our ethical preferences can affect our personal preferences and choices. By this intertwining of ethical and personal choices, it focuses on some of the earliest concerns of economics and tries to rehabilitate economics as a moral science.","PeriodicalId":159015,"journal":{"name":"Law, Economics, and Conflict","volume":"116 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-08-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121958854","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"9. Exchange Configurations and the Legal Framework","authors":"P. Cornelisse, E. Thorbecke","doi":"10.1515/9781501759284-010","DOIUrl":"https://doi.org/10.1515/9781501759284-010","url":null,"abstract":"","PeriodicalId":159015,"journal":{"name":"Law, Economics, and Conflict","volume":"47 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-08-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127217156","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"6. New Technology, Increasing Returns, and the End of the Antitrust Century","authors":"K. Basu","doi":"10.1515/9781501759284-007","DOIUrl":"https://doi.org/10.1515/9781501759284-007","url":null,"abstract":"","PeriodicalId":159015,"journal":{"name":"Law, Economics, and Conflict","volume":"516 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-08-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116226610","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"1. The Interim Balance Sheet of Democracy: A Machiavellian Memo","authors":"Célestin Monga","doi":"10.1515/9781501759284-002","DOIUrl":"https://doi.org/10.1515/9781501759284-002","url":null,"abstract":"","PeriodicalId":159015,"journal":{"name":"Law, Economics, and Conflict","volume":"5 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-08-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"117030400","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Law, Economics, and Conflict: An Introduction","authors":"K. Basu, R. Hockett","doi":"10.1515/9781501759284-001","DOIUrl":"https://doi.org/10.1515/9781501759284-001","url":null,"abstract":"","PeriodicalId":159015,"journal":{"name":"Law, Economics, and Conflict","volume":"19 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-08-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124133872","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}