Conventional wisdom predicts that international law must proceed through a “state pathway” before regulating corporations: it binds national governments who then bind corporations through enactment and enforcement of domestic laws and regulations. But recent corporate practices confound this...

Courts responded to COVID-19 by going remote. In early 2020, as lockdown orders swept through the country, virtual hearings—which once were rare—became common. This shift generated fierce debate about how video trials differ from in-person proceedings. Now, though, most courts have reopened,...

The Supreme Court held, in Bob Jones University v. United States, that violations of fundamental public policy—including race discrimination in education—disqualify an entity for tax exemption. The holding of the case was broad, and its results cohered with the ideals of progressive society:...

In 2007, Congress promised student loan forgiveness to our teachers, public defenders, nurses, and other public servants. The bargain was simple: spend ten years in public service and your debt will be eliminated. Unfortunately for borrowers, the program turned out to be a disaster, with loan...

Money is, always and everywhere, a legal phenomenon. In the United States, the vast majority of the money supply consists of monetary liabilities — contractually enforceable promises — issued by commercial banks and money market funds. These private financial institutions are subject to...

According to statute, securities exchanges play an essential role in ensuring compliance with applicable laws and industry standards. Long imagined as unique in their institutional capacity to bring traders together, collect information and exclude problem participants from the marketplace,...

Retirement investing in the United States has changed dramatically. The classic defined-benefit (DB) plan has largely been replaced by the defined contribution (DC) plan. With the latter, individual employees' decisions about how much to save for retirement and how to invest those savings...

Calls for breaking up monopolies — especially Amazon, Facebook, and Google — have largely focused on proving that past acquisitions of companies like Whole Foods, Instagram, and YouTube were anti-competitive. But scholars have paid insufficient attention to another major obstacle that also...

In recent times, there has been an unprecedented shift in power from managers to shareholders, a shift that realizes the long-held theoretical aspiration of market control of the corporation. This Article subjects the market control paradigm to comprehensive economic examination and finds it...

Not atypically, the Supreme Court in Horne interprets the canonical Nollan narrowly as a case about developer exactions. Viewed that way, Nollan does not speak to the issue in Horne: the raisins that the government took from the owners were not surrendered in exchange for explicit permission to...