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For many firms, the opening-up of trade barriers meant unwelcome exposure to tough international competition. In order to protect themselves, many turned to local and national environmental regulations, forming coalitions which enabled them to force out their opponents, even though they were often ...

For many firms, the opening-up of trade barriers meant unwelcome exposure to tough international competition. In order to protect themselves, many turned to local and national environmental regulations, forming coalitions which enabled them to force out their opponents, even though they were often contravening international environmental agreements in doing so. With the recent emergence of international trade and environment regimes wielding substantial powers, however, comes the opportunity for outward-facing and innovative firms to utilize these regimes and so challenge the discriminatory obstacles which have been becoming ever more common. This adherence to environmental regulations has promoted a broad array of corporate strategies; a fact most visible in North America where firms are making use of the North American Free Trade Agreement (NAFTA). In Environmental Regulations and Corporate Strategy, the authors develop a model of complex institutional responsiveness and demonstrate how this can guide firms through this new era of opportunities for international regulatory capture. They apply the model within North America, identifying the implications for Europe and Asia. Their work is based on 300 confidential interviews with senior executives and officials in North American and European companies, national governments, and North American institutions, and analyses 24 cases of firms who have either benefited or suffered from involvement with international institutions.

What does economics have to do with law? Suppose legislators propose that armed robbers receive life imprisonment. Editorial pages applaud them for getting tough on crime. Constitutional lawyers raise the issue of cruel and unusual punishment. Legal philosophers ponder questions of justness. An ...

What does economics have to do with law? Suppose legislators propose that armed robbers receive life imprisonment. Editorial pages applaud them for getting tough on crime. Constitutional lawyers raise the issue of cruel and unusual punishment. Legal philosophers ponder questions of justness. An economist, on the other hand, observes that making the punishment for armed robbery the same as that for murder encourages muggers to kill their victims. This is the cut-to-the-chase quality that makes economics not only applicable to the interpretation of law, but beneficial to its crafting.Drawing on numerous commonsense examples, in addition to his extensive knowledge of Chicago-school economics, David D. Friedman offers a spirited defense of the economic view of law. He clarifies the relationship between law and economics in clear prose that is friendly to students, lawyers, and lay readers without sacrificing the intellectual heft of the ideas presented. Friedman is the ideal spokesman for an approach to law that is controversial not because it overturns the conclusions of traditional legal scholars--it can be used to advocate a surprising variety of political positions, including both sides of such contentious issues as capital punishment--but rather because it alters the very nature of their arguments. For example, rather than viewing landlord-tenant law as a matter of favoring landlords over tenants or tenants over landlords, an economic analysis makes clear that a bad law injures both groups in the long run. And unlike traditional legal doctrines, economics offers a unified approach, one that applies the same fundamental ideas to understand and evaluate legal rules in contract, property, crime, tort, and every other category of law, whether in modern day America or other times and places--and systems of non-legal rules, such as social norms, as well.This book will undoubtedly raise the discourse on the increasingly important topic of the economics of law, giving both supporters and critics of the economic perspective a place to organize their ideas.