Traditionalists believe that foreign policy is forged by conflict between the legislature and the executive, with the judiciary acting as referee. We reject that paradigm, and make the case that the country's independent agencies, exemplified by its central bank, have become significant and...

The Trump administration has promised to pursue policy through deals with the private sector, not as an extraordinary response to extraordinary events, but as part and parcel of the ordinary work of government. Jobs would be onshored through a series of deals with employers. Infrastructure would...

How should we understand the federal government's response to the financial crisis? The government's team, largely staffed by investment bankers, pushed the limits of its statutory authority to authorize an ad hoc series of deals designed to mitigate that crisis. It then decided to seek...

The dramatic events of the financial crisis led the government to respond with a new form of regulation. Regulation by deal bent the rule of law to rescue financial institutions through transactions and forced investments; it may have helped to save the economy, but it failed to observe a...

In traditional administrative law, agencies pass rules and courts review them. But what if agencies stopped acting by rule and started leading by example? With best practices rulemaking - a theoretically voluntary way of coordinating administrative action both within and across agencies -...

This paper offers a scholarly review of the international relations and international law literature on regulatory networks. Although generalizations are necessarily imprecise, we suggest that the international relations oeuvre has proved particularly attentive to the way that power is wielded...

How does global financial regulation work? I propose six principles that organize its current practice: 1) a national treatment principle, 2) a most favored nation principle, 3) a preference for rulemaking over adjudication, 4) a subsidiarity principle of enforcement, 5) a peer review model of...

This article adds an empirical perspective to the debate over the use of foreign authority by federal courts. It surveys sixty years of federal court practice in citing opinions from foreign high courts, through a citation count analysis. The data reveals that federal courts rarely cite to...

The global financial crisis was a challenge to three of the most promising, and seemingly effective, institutions of international law - the World Trade Organization, the International Monetary Fund, and the international network of regulatory agencies - and it was a challenge they failed to...

This article argues that the complex doctrine of judicial review of administrative action - containing no less than six separate tests depending on the sort of agency action to be reviewed - both descriptively is and normatively should be simplified into a “reasonable agency” standard....