Law and Markets in United States History: Different Modes of Bargaining Among Interests

The Lawbook Exchange, Ltd., 2001 - 218 pagina's
The eminent legal scholar James Willard Hurst's sociological analysis of the relation between law and private business in relation to society at large Hurst argues that law and business support the same goals of efficiency and humanity, and examines their interrelationship toward that end in terms of ethical issues related to public policy, money supply, the impact of incremental change, inflation and deflation, monopoly and competition, and other economic factors. Based on Hurst's lectures at The University of Wisconsin in April, 1981. James Willard Hurst [1910-1997] is widely recognized as the father of modern American legal history. He taught at University of Wisconsin Law School. A prolific scholar and writer, Hurst's major works include The Growth of American Law: The Law Makers (1950), Law and The Conditions of Freedom in The Nineteenth-century United States (1956), Law and Economic Growth: The Legal History of the Wisconsin Lumber Industry 1835-1916 (1964), Law and Social Process in U.S. History (1960) and Law and Social Order in the United States (1977). CONTENTS Introduction: The Market, the Law, and Challenges of Scarcity Chapter 1 Law and the Constitution of the Market Chapter 2 The Market in Social Context Chapter 3 Bargaining through Law and through Markets Notes Sources Cited Index

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Law and the Constitution of the Market
The Market in Social Context
Bargaining through Law and through
Legitimacy Conferred by Service
The Quality of Bargained Public Policy
Sources Cited

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Pagina 113 - The doctrine of the separation of powers was adopted by the Convention of 1787, not to promote efficiency but to preclude the exercise of arbitrary power. The purpose was, not to avoid friction, but, by means of the inevitable friction incident to the distribution of the governmental powers among three departments, to save the people from autocracy.
Pagina 53 - Rights of property, like all other social and conventional rights, are subject to such reasonable limitations in their enjoyment, as shall prevent them from being injurious, and to such reasonable restraints and regulations established by law, as the legislature, under the governing and controlling power vested in them by the constitution, may think necessary and expedient.
Pagina 84 - But the object and end of all government is to promote the happiness and prosperity of the community by which it is established ; and it can never be assumed that the government intended to diminish its power of accomplishing the end for which it was created. And in a country like ours...
Pagina 64 - A landed interest, a manufacturing interest, a mercantile interest, a moneyed interest, with many lesser interests, grow up of necessity in civilized nations and divide them into different classes, actuated by different sentiments and views. The regulation of these various and interfering interests forms the principal task of modern legislation and involves the spirit of party and faction in the necessary and ordinary operations of the government.
Pagina 53 - All rights tend to declare themselves absolute to their logical extreme. Yet all in fact are limited by the neighborhood of principles of policy which are other than those on which the particular right is founded, and which become strong enough to hold their own when a certain point is reached.
Pagina 83 - We will not say that a state may not relinquish it ; that a consideration sufficiently valuable to induce a partial release of it may not exist ; but as the whole community is interested in retaining it undiminished, that community has a right to insist that its abandonment ought not to be presumed, in a case in which the deliberate purpose of the state to abandon it does not appear.
Pagina 110 - Sir, I see that it is impossible to have liberty but all property must be taken away. If it be laid down for a rule, and if you will say it, it must be so. But I would fain know what the soldier hath fought for all this while? He hath fought to enslave himself, to give power to men of riches, men of estates, to make him a perpetual slave.
Pagina 85 - The contracts which the constitution protects are those that relate to property rights, not governmental. It is not always easy to tell on which side of the line which separates governmental from property rights a particular case is to be put ; but in respect to lotteries there can be no difficulty.
Pagina 52 - The power we allude to is rather the police power, the power vested in the legislature by the constitution, to make, ordain, and establish all manner of wholesome and reasonable laws, statutes, and ordinances, either with penalties or without, not repugnant to the constitution, as they shall judge to be for the good and welfare of the commonwealth, and of the subjects of the same.

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