More Security Through Jurisdictional Competition

by Don Boudreaux on October 10, 2009

in Competition, Complexity and Emergence, Law, Regulation

My friend, law-school classmate, and long-ago co-author Adam Pritchard – now Professor of Law at the University of Michigan – explains in the new issue of Regulation why London’s once-impressive promise in competing against New York to again become the financial center of the world is fading. (Adam also highlights some ill unintended consequences of Sarbanes-Oxley.)

You can find Adam’s excellent article here, in pdf form, for downloading.

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muirgeo

In my view … it is impossible to understand this crisis without reference to the global imbalances in trade and capital flows that began in the latter half of the 1990s. --Ben S. Bernanke

vidyohs

In my view....it is impossible to understand the depths of socialist stupidity until one has been exposed to the writing of George Balella, the duck. --vidyohs

RL

Don,

You have a law degree as well as an econ degree?

DonBoudreaux

Yep. UVA, '92.

RL

Wow! I don't know whether to be even MORE impressed, or to now hate you passionately... :-)

RL

Actually, given my assumptions about the relative financial compensations one can achieve as an attorney vs an economist (even a Chairman), this is likely strong evidence of just how much Don likes economics.

vikingvista

Be impressed that he avoided the usual temptations of becoming a rent-seeking politician/lobbyist, an loathsome ambulance chaser, or a lying flamboyant criminal defense attorney.

Gil

Yeah, and instead became a rent-seeking economic professor, wow.

SheetWise

Hold on a second. It's defense attorneys that keep the government, judges, and prosecutors semi-honest. I can't think of any specialty in law that has, as a percentage, so many real heroes.

That's about as far as I want to defend lawyering outside of the civil arena. I think you should take your statement back ;)

vidyohs

Bah humbug, Sheetwise!

Defense attorneys are thick as thieves with plaintiff attorneys, they know that if there are no lawsuits to defend they are out of a job. They are all brothers under the skin and to them the lawsuit jungle is just a game in which both get paid. (handsomely in most cases)

SheetWise

I said --

"That's about as far as I want to defend lawyering outside of the civil arena."

I accept your argument -- inside the civil arena.