"We find that the benefits to economic growth are even smaller than those projected with full-employment models, and are negative for Japan and the United States. More important, we find that the TPP will likely lead to losses in employment and increases in inequality," summarize the authors. The report, called "Trading Down: Unemployment, Inequality and Other Risks of the Trans-Pacific […]
In 2006, in the federal government's RICO litigation against major players in the tobacco industry, U.S. District Judge Glady Kessler issued an opinion containing over 4,000 findings of facts. She found that the government had shown by overwhelming evidence that the industry had maintained an unlawful racketeering enterprise and had lied about the health effects […]
This shouldn't be news to regular readers, but last Friday's report reflects the risks associated with for-profit colleges. The report highlights high costs and low job placement rates. The Washington Post has the story.
A recent paper from the National Bureau of Economic Research points to a depressing feature of our society — the economic circumstances of a person's birth exert a pretty strong influence on where they'll end up. Or, as the headline in FiveThirtyEight puts it in its headline describing the trend: "Rich Kids Stay Rich, Poor Kids Stay […]
Raymond H. Brescia of Albany has written Regulating the Sharing Economy: New and Old Insights into an Oversight Regime for the Peer-to-Peer Economy, 95 Nebraska Law Review 2016 (Forthcoming). Here is the abstract: The significant expansion of new, peer-to-peer businesses, supercharged by the internet and mobile technologies, has led to an exploration of the proper […]
David A. Hoffman of Temple has written From Promise to Form: How Contracting Online Changes Consumers. Here is the abstract: I hypothesize that different experiences with online contracting have led some consumers to see contracts — both online and offline — in distinctive ways. Experimenting on a large, nationally representative, sample, this paper provides evidence […]
Elizabeth Chamblee Burch of Georgia and Margaret S. Williams of the Federal Judicial Center have written Repeat Players in Multidistrict Litigation: The Social Network. Here's the abstract: To promote pretrial efficiency, the Judicial Panel on Multidistrict Litigation has transferred 36 percent of the entire federal courts’ civil caseload to transferee judges for coordinated handling. Transferee […]
Here. Excerpt, reporting on a study by Lendedu: When Lendedu talked to 477 undergraduate and graduate students at three Bay Area campuses, it found that just 6 percent of them knew how long they would be repaying the debt. Only 8 percent knew the interest rate on their loan. * * * More than 90 percent of the […]
Here. (HT: Gregory Gauthier)
BBC News reports: HSBC has reached a $470m [] settlement with the US government and states related to dubious mortgage lending and foreclosure practices that contributed to the financial crisis. The agreement includes a $100m fine and $370m in consumer relief to borrowers. Investigations began in 2010 after HSBC was found to be signing off […]