Author: Peter J. Boettke
Publisher: Cambridge University Press
ISBN: 110884619X
Category : Business & Economics
Languages : en
Pages : 213
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Book Description
Contemporary monetary institutions are flawed at a foundational level. The reigning paradigm in monetary policy holds up constrained discretion as the preferred operating framework for central banks. But no matter how smart or well-intentioned are central bankers, discretionary policy contains information and incentive problems that make macroeconomic stability systematically unlikely. Furthermore, central bank discretion implicitly violates the basic jurisprudential norms of liberal democracy. Drawing on a wide body of scholarship, this volume presents a novel argument in favor of embedding monetary institutions into a rule of law framework. The authors argue for general, predictable rules to provide a sturdier foundation for economic growth and prosperity. A rule of law approach to monetary policy would remedy the flaws that resulted in misguided monetary responses to the 2007-8 financial crisis and the COVID-19 pandemic. Understanding the case for true monetary rules is the first step toward creating more stable monetary institutions.
Author: Peter J. Boettke
Publisher: Cambridge University Press
ISBN: 1108479847
Category : Business & Economics
Languages : en
Pages : 213
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Book Description
A novel argument that shows how rules work better than discretion when implementing monetary policy.
Author: Glenn Furton
Publisher:
ISBN:
Category :
Languages : en
Pages : 32
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Book Description
Contemporary monetary systems permit those in positions of authority to exercise discretionary power in the pursuit of monetary policy objectives. We argue there are strong prima facie reasons why this is normatively problematic. Engaging the literature on the rule of law, we argue that a general and nondiscriminatory rule ought to apply to monetary institutions for the same reasons such a rule ought to apply to other important institutions. We recognize that this prima facie case may be overcome by sufficiently strong consequentialist concerns, but show that these concerns are ungrounded: discretionary monetary authorities, both in theory and practice, perform poorly. We thus affirm the importance of the rule of law for monetary policy as a requisite for both non-arbitrary governance and macroeconomic stability.
Author: American Bar Association. House of Delegates
Publisher: American Bar Association
ISBN: 9781590318737
Category : Law
Languages : en
Pages : 216
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Book Description
The Model Rules of Professional Conduct provides an up-to-date resource for information on legal ethics. Federal, state and local courts in all jurisdictions look to the Rules for guidance in solving lawyer malpractice cases, disciplinary actions, disqualification issues, sanctions questions and much more. In this volume, black-letter Rules of Professional Conduct are followed by numbered Comments that explain each Rule's purpose and provide suggestions for its practical application. The Rules will help you identify proper conduct in a variety of given situations, review those instances where discretionary action is possible, and define the nature of the relationship between you and your clients, colleagues and the courts.
Author: Nick Cheesman
Publisher: Cambridge University Press
ISBN: 1107083184
Category : History
Languages : en
Pages : 337
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Book Description
A striking new analysis of Myanmar's court system, revealing how the rule of law is 'lexically present but semantically absent'.
Author: Gerald Nels Olson
Publisher: Kluwer Law International B.V.
ISBN: 9403509805
Category : Law
Languages : en
Pages : 1052
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Book Description
Standing apart from the swollen stream of writing dealing with financial crises, this much-needed book makes a legal case for enforcement of legal accountability for financial crises and for providing justice for the inestimable and untold human suffering caused by Washington and Wall Street. The extraordinarily detailed analysis comes with the authority of a widely experienced and internationally respected banking and finance lawyer. The book’s driving forces may be summarized as follows: it establishes that persistent and progressive money debasement is at the heart of all serious systemic financial crises; it establishes that the crisis in 2008 was not only simply immoral or wrong but also illegal, the result of intentional violation of the foundational legal requirements of honest, safe, and sound money and banking; it establishes that Washington and Wall Street have intentionally manipulated asset values and liquidity characteristics through proliferation of ineffective banking law and regulation magnified by the rise of structured finance and shadow banking. Basing its analysis on numerous case studies and illustrations, this book enables readers to untangle the web of false narratives wrought by Washington and Wall Street to obscure and misdirect any clear understanding of how fundamental civil, legal and constitutional rights are undermined. Designed to empower readers to effect meaningful legal action against money manipulation and debasement for the benefit of financial elites, this book is essential reading for banking lawyers, bankers, securities firms, lobbyists, government regulators and supervisory institutions. It is also sure to be welcomed by academics in finance and securities law.
Author: Karen G. Turner
Publisher: University of Washington Press
ISBN: 0295803894
Category : History
Languages : en
Pages : 384
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Book Description
In The Limits of the Rule of Law in China, fourteen authors from different academic disciplines reflect on questions that have troubled Chinese and Western scholars of jurisprudence since classical times. Using data from the early 19th century through the contemporary period, they analyze how tension between formal laws and discretionary judgment is discussed and manifested in the Chinese context. The contributions cover a wide range of topics, from interpreting the rationale for and legacy of Qing practices of collective punishment, confession at trial, and bureaucratic supervision to assessing the political and cultural forces that continue to limit the authority of formal legal institutions in the People’s Republic of China.
Author: Katharina Pistor
Publisher: Princeton University Press
ISBN: 0691208603
Category : Business & Economics
Languages : en
Pages : 315
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Book Description
"Capital is the defining feature of modern economies, yet most people have no idea where it actually comes from. What is it, exactly, that transforms mere wealth into an asset that automatically creates more wealth? The Code of Capital explains how capital is created behind closed doors in the offices of private attorneys, and why this little-known fact is one of the biggest reasons for the widening wealth gap between the holders of capital and everybody else. In this revealing book, Katharina Pistor argues that the law selectively "codes" certain assets, endowing them with the capacity to protect and produce private wealth. With the right legal coding, any object, claim, or idea can be turned into capital - and lawyers are the keepers of the code. Pistor describes how they pick and choose among different legal systems and legal devices for the ones that best serve their clients' needs, and how techniques that were first perfected centuries ago to code landholdings as capital are being used today to code stocks, bonds, ideas, and even expectations--assets that exist only in law. A powerful new way of thinking about one of the most pernicious problems of our time, The Code of Capital explores the different ways that debt, complex financial products, and other assets are coded to give financial advantage to their holders. This provocative book paints a troubling portrait of the pervasive global nature of the code, the people who shape it, and the governments that enforce it."--Provided by publisher.
Author: Stephen Breyer
Publisher: Vintage
ISBN: 0307594262
Category : Political Science
Languages : en
Pages : 290
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Book Description
The Supreme Court is one of the most extraordinary institutions in our system of government. Charged with the responsibility of interpreting the Constitution, the nine unelected justices of the Court have the awesome power to strike down laws enacted by our elected representatives. Why does the public accept the Court’s decisions as legitimate and follow them, even when those decisions are highly unpopular? What must the Court do to maintain the public’s faith? How can the Court help make our democracy work? These are the questions that Justice Stephen Breyer tackles in this groundbreaking book. Today we assume that when the Court rules, the public will obey. But Breyer declares that we cannot take the public’s confidence in the Court for granted. He reminds us that at various moments in our history, the Court’s decisions were disobeyed or ignored. And through investigations of past cases, concerning the Cherokee Indians, slavery, and Brown v. Board of Education, he brilliantly captures the steps—and the missteps—the Court took on the road to establishing its legitimacy as the guardian of the Constitution. Justice Breyer discusses what the Court must do going forward to maintain that public confidence and argues for interpreting the Constitution in a way that works in practice. He forcefully rejects competing approaches that look exclusively to the Constitution’s text or to the eighteenth-century views of the framers. Instead, he advocates a pragmatic approach that applies unchanging constitutional values to ever-changing circumstances—an approach that will best demonstrate to the public that the Constitution continues to serve us well. The Court, he believes, must also respect the roles that other actors—such as the president, Congress, administrative agencies, and the states—play in our democracy, and he emphasizes the Court’s obligation to build cooperative relationships with them. Finally, Justice Breyer examines the Court’s recent decisions concerning the detainees held at Guantánamo Bay, contrasting these decisions with rulings concerning the internment of Japanese-Americans during World War II. He uses these cases to show how the Court can promote workable government by respecting the roles of other constitutional actors without compromising constitutional principles. Making Our Democracy Work is a tour de force of history and philosophy, offering an original approach to interpreting the Constitution that judges, lawyers, and scholars will look to for many years to come. And it further establishes Justice Breyer as one of the Court’s greatest intellectuals and a leading legal voice of our time.
Author: Jens Meierhenrich
Publisher: Cambridge University Press
ISBN: 1108620175
Category : Law
Languages : en
Pages : 715
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Book Description
The Cambridge Companion to the Rule of Law introduces students, scholars, and practitioners to the theory and history of the rule of law, one of the most frequently invoked-and least understood-ideas of legal and political thought and policy practice. It offers a comprehensive re-assessment by leading scholars of one of the world's most cherished traditions. This high-profile collection provides the first global and interdisciplinary account of the histories, moralities, pathologies and trajectories of the rule of law. Unique in conception, and critical in its approach, it evaluates, breaks down, and subverts conventional wisdom about the rule of law for the twenty-first century.
