Tag: Law and Economics

Fred S. McChesney, Rest in Peace »

I first met Fred S. McChesney (1948–2017) at the Federal Trade Commission in the early 1980s. Ronald Reagan had just been elected to the presidency and had appointed James C. Miller III as the FTC’s chairman. Robert D. Tollison had been confirmed as the Director of the FTC’s Bureau of Economics. I am not...
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Nobel Laureate Economist Ronald Coase Turns 101 »

On December 29th, the world-renowned economist Ronald H. Coase celebrated in Chicago his 101st birthday. Professor Coase received the Nobel Prize in Economic Sciences in 1991, and he is the Clifton R. Musser Professor Emeritus of Economics at the University of Chicago Law School and the former, highly influential editor of the prestigious Journal...
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Cy pres in Class Action Lawsuits: Alive and Well? »

Last Friday an Illinois court resurrected a previously overturned $10.1 billion tobacco verdict, sending the case back to Madison County, Ill., for a possible retrial. According to Yahoo! News carrying the AP story: In 2003, now-retired Madison County Circuit Judge Nicholas Byron found that Philip Morris misled customers about “light” and “low tar” cigarettes...
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What is The Pursuit of Justice? »

After returning home to the United States from a trip abroad, I almost always experience a comforting sense of security. The surroundings look familiar, traffic is relatively sane, and I always know where to find a great burger when I need one. But there is something deeper going on as well. Here in the...
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