Eric A. Posner
Review
A Review
The Court and the World: American Law and the New Global Realities BY STEPHEN BREYER, ALFRED A. KNOPF, 2015 author. Kirkland & Ellis Distinguished Service Professor, University of Chicago Law School. Thanks to Will Baude and Curt Bradley for helpful comments, Kathrine Gutierrez f…
Forum
Cost-Benefit Analysis of Financial Regulations: A Response to Criticisms
In two recent articles, we urged financial regulators to use cost-benefit analysis (CBA) to evaluate financial regulations.1 John Coates has emerged as a leading critic of this view.2 In this essay, we respond to his objections. We make several points. First, Coates conflates two separate …
Forum
What the Efficient Performance Hypothesis Means for Contracts Scholarship
The standard contract remedy of expectation damages treats a promissory obligation as an option: the promisor has the option to breach or pay damages equal to the difference between the value of performance and the contract price. In his interesting essay recently published in this Journal, Richard …
Debate
Chevronizing Foreign Relations Law
116 Yale L.J. 1170 (2007)
A number of judge-made doctrines attempt to promote international comity by reducing possible tensions between the United States and foreign sovereigns. For example, courts usually interpret ambiguous statutes to conform to international law and understand them not to appl…
Essay
Economic Analysis of Contract Law After Three Decades: Success or Failure?
112 Yale L.J. 829 (2003)
Modern economic analysis of contract law began about thirty years ago and, many scholars would agree, has become the dominant academic style of contract theory. Traditional doctrinal analysis exerts less influence than it did prior to 1970 and enjoys little prestige. Philosop…
Essay
Legislative Entrenchment: A Reappraisal
111 Yale L.J. 1665 (2002)
There is a principle of constitutional law holding that "one legislature may not bind the legislative authority of its successors." The Supreme Court recently discussed that principle at length in United States v. Winstar, and although the case was decided on other grounds,…