The laggards of the Eurozone pose a novel economic and legal issue. Whereas the Eurozone sorely needs growth in the PIRGS, neither conventional Keynesian stimulus nor devaluations are likely to be productive. This essay proposes that growth be rekindled by forced over-recapitalization of the...

The restructuring of Greece's debt offers a clean case study of the dynamics of sovereign restructuring. This essay discusses the powerlessness of sovereign creditors, Greece's predicament, and its resolution through (a) a two-step refinancing with bond accumulation and value injection and (b)...

Using Indiana Supreme Court data and focusing on tightly split opinions, we develop a method for producing a graphical display of all possible majorities of a five-member supreme court in a circle showing all opinions by ideological slant (liberal and conservative). We apply a similar method to...

After a review of the traditional disclosure justifications, this paper examines the dangers that new technologies are creating in finance, such as flash crashes and the hack of the DAO. Whereas the dangers do require and have received regulatory responses, the environment that is forming does...

Two books on law and development and the law-and-finance literature have produced a major opening for the field of international statistical comparisons of legal systems. This review provides some background from microstructure to help the understanding of the effects the statistical comparisons...

The accepted economic function of bankruptcy law is that it resolves collective action problems between self-interested creditors. This article argues that this collective-action-resolving function is only one of a multitude of expressions of an overarching economic motivation of bankruptcy law....

An overview of adjudication by the Supreme Court reveals three phenomena. In the 1976 term, unanimous decisions switch from being decidedly liberal to even, and in 1990, they switch to greater frequency. Also, during the 1970s and 1980s, the Supreme Court displays greater complexity of coalition...