This paper addresses the important question: What is the proper role of the state in the general area of environmental regulation? The subject itself poses certain major difficulties for political theories which, whatever their differences, at least call for both a...

Many modern writers have criticized the notion that property consists of a bundle of rights in some determinate thing as a weak conception that invites increased government control over private property, especially real estate. This article rejects that conception for the following reasons....

The extraordinary influence of Milton Friedman is largely attributable to the passion and clarity he brought to the defense of competitive markets during the New Deal period when the public entrenchment of monopolies and cartels were standard government policy. Friedman wrote at a time when the...

The linkLine price squeeze case pending in the Supreme Court for the Fall 2008 Term is one of the most significant antitrust cases on monopolization law that the Court has taken in years. Amici are professors and scholars in law and economics who have taught, or have conducted research on,...

In the past decade behavioral economics has established itself as a contender to the throne of neoclassical economics in the economic analysis of law. The pros and cons of behavioral as compared to neoclassical economics have been vigorously debated at the general, methodology level. But the...

The work of Ronald Coase is notable for two primary reasons. First, it introduced the notion of transaction costs to explain the formation and maintenance of firms, Second, it advanced our understanding of the critical topic of social costs. Yet, while transaction costs are key to understanding...

The previous issue of Regulation contains a provocative attempt by University of California, Berkeley law professor Peter Menell to discredit what he calls the property rights movement (PRM) for its supposed "absolutist" stance on intellectual property. As part of the article, he asserts that I...