The alarm raised by the jump in subprime mortgage defaults has deflected attention away from a serious problem that afflicts many homeowners with subprime and prime mortgages alike: a significant share of all outstanding mortgages have adjustable interest rates, and the majority of these will...

This essay presents an extended defense of the general theory of law formulated by the Bolshevik jurist, Evgeny Pashukanis, and published in his Law and Marxism: A General Theory in 1924. The general theory is a theory of the legal form. Although Pashukanis did not name his theory, it has become...

Over the last twenty years, new public management (NPM) has inspired managerial reforms in public sectors worldwide. The US and Italian governments have embraced one of the main tenets of NPM, managing for results. In this study, we assess the introduction of performance management practice in...

Systemic risk - the possibility that an individual firm's failure will result in broad damages to the economy as a whole - is the epitome of financial crisis. Bailouts of troubled firms have long been the standard response to systemic risk. Yet, bailouts suffer from problems of political...