Faculty Books & Edited Works

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The Logic of Subchapter K: A Conceptual Guide to the Taxation of Partnerships

Laura E. Cunningham and Noël B. Cunningham

The Logic of Subchapter K was originally intended for use as a text for a law school course in Partnership Taxation. Together with the accompanying problem set and teachers manual, it guides students through the conceptual framework of subchapter K, while thoroughly covering the many difficult technical matters in the statutes and regulations, with the goal of giving students a firm understanding of this most difficult subject. Each chapter begins with a basic explanation of the relevant provisions and the roles that they play in the overall structure of subchapter K. It includes an increasingly detailed discussion of the specific rules, including multiple illustrative examples. Each chapter builds on the earlier chapters, leading the student through subchapter K. The authors have successfully used the text and problems for both JD and LLM courses at NYU School of Law, Yale Law School, Cardozo School of Law, and Hastings College of the Law. Since the publication of the first edition of the book in 1996, it has also been used widely in business and accounting courses outside of the law school setting. It is also on the shelf of many practitioners. This 6th Edition addresses multiple changes made by the Tax Cuts and Jobs Act of 2017, including Section 199A qualified business deduction, the expensing of assets under Section 168(k), partnership terminations under Section 708, and an assortment of regulatory changes made in the three years since publication of the 5th Edition.
No Justice in the Shadows: How America Criminalizes Immigrants

Alina Das

This provocative account of our immigration system’s long, racist history reveals how it has become the brutal machine that upends the lives of millions of immigrants today. Each year in the United States, hundreds of thousands of people are arrested, imprisoned, and deported, trapped in what leading immigrant rights activist and lawyer Alina Das calls the “deportation machine.” The bulk of the arrests target people who have a criminal record — so-called “criminal aliens” — the majority of whose offenses are immigration-, drug-, or traffic-related. These individuals are uprooted and banished from their homes, their families, and their communities. Through the stories of those caught in the system, Das traces the ugly history of immigration policy to explain how the U.S. constructed the idea of the “criminal alien,” effectively dividing immigrants into the categories “good” and “bad,” “deserving” and “undeserving.” As Das argues, we need to confront the cruelty of the machine so that we can build an inclusive immigration policy premised on human dignity and break the cycle once and for all.
The Dubious Morality of Modern Administrative Law

Richard A. Epstein

Modern administrative law has been the subject of intense and protracted intellectual debate, from legal theorists to such high-profile judicial confirmations as those conducted for Supreme Court justices Neil Gorsuch and Brett Kavanaugh. On one side, defenders of limited government argue that the growth of the administrative state threatens traditional ideas of private property, freedom of contract, and limited government. On the other, modern progressives champion a large administrative state that delegates to key agencies in the executive branch, rather than to Congress, broad discretion to implement major social and institutional reforms. In this book, Richard A. Epstein, one of America’s most prominent legal scholars, provides a withering critique of how theadministrative state has gone astray since the New Deal. First examining how federal administrative powers worked well in an earlier age of limited government, dealing with such issues as land grants, patents, tariffs and government employment contracts, Epstein then explains how modern broad mandates for delegated authority are inconsistent with the rule of law and lead to systematic abuse in a wide range of subject matter areas: environmental law; labor law; food and drug law; communications laws, securities law and more. He offers detailed critiques of major administrative laws that are now under reconsideration in the Supreme Court and provides recommendations as to how the Supreme Court can roll back the administrative state in a coherent way.
Cases and Materials on Torts

Richard A. Epstein and Catherine M. Sharkey

Cases and Materials on Torts preserves historical and conceptual continuity between the present and the past, while addressing the most significant contemporary controversies in such fast-moving areas like public nuisance, global warming, and product liability, with new litigation against internet providers. Toward these dual ends, Richard A. Epstein and Catherine M. Sharkey have retained in the Twelfth Edition the great older cases, both English and American, that have proved themselves time and again in the classroom, and which continue to exert great influence on the modern law. Our book also provides a rich exploration of the dominant corrective justice and law-and-economics approaches to tort law, as exemplified both in the retained and new cases and materials. New to the Twelfth Edition: extensive new treatment of public nuisance cases to address the profound expansion of the once-sleepy area of public nuisance law into the realms of the opioid crisis, toxic torts, and global warming; major reconsideration of who counts as a seller in the chain of distribution for goods sold online with product liability updates for various forms of e-commerce, such as Amazon’s liability for defective products sold on its site; updates to incorporate two major new Torts Restatements on Intentional Harms and Liability InsuranceThe Reforms of the Michigan No-Fault Legislation; enhanced treatment of privacy in the era of “Big Data” to address trend of large data collectors like Facebook and Google to determine what is reasonable online, incorporating major privacy legislation such as California’s Consumer Privacy Act and the European GDPR (General Data Protection Regulation); expansion of materials that address race and gender disparities in the setting of damages awards; and, in the realm of punitive damages innovative remedies directing some portion of the award to public interest groups. Professors and students will benefit from: clear organizational framework of the book; important lines of cases that help understand legal reasoning and the evolution of precedent; inclusion of key academic commentary and elaboration of central intellectual disputes over the nature and function of the tort law; ability to pick and choose modules of interest – such as defamation, privacy, and economic harms—which are of increasing importance in real world of tort litigation; extensive notes with topic headlines that elaborate basic concepts and extend into the most complex contemporary issues facing courts; great attention given to cutting edge tort developments.
Labor Law

Samuel Estreicher and Matthew T. Bodie

This one-volume, concise treatise on labor law explains the analytical structure that governs how employees form workplace organizations and bargain over the terms and conditions of employment. It covers new forms of labor organizing, such as the corporate campaign, card check/neutrality agreements, and worker centers. It is designed to complement leading labor law casebooks with analysis of the principal decisions, context, and social justice policy. It reflects decisional and other developments through August 2019.
Due Process as a Limit to Discretion in International Commercial Arbitration

Franco Ferrari, Friedrich Jakob Rosenfeld, and Dietmar Czernich

The absence of a coherent body of case law on due process has increasingly motivated recalcitrant parties to use due process as a strategic tool, thereby putting at risk the prospect of obtaining an enforceable award in expeditious proceedings. Countering this inherent danger, here for the first time is a comprehensive study on due process as a limit to arbitral discretion, showing how due process applies in practice in key jurisdictions around the world. Based on country reports prepared by leading arbitration practitioners and academics, the book explores how courts in major arbitration jurisdictions apply due process guarantees when performing their post-award review. The contributors, driven by an interest in exploring the interplay between due process and efficiency, focus on those due process guarantees that set limits to arbitral discretion. Matters covered include the following: the right to be heard and how it may be affected by submission deadlines, evidentiary offers by the opposing party, and directions to the parties as to which aspects require further pleading; the right to be treated equally and its interplay with the duty to give each party full opportunity to present its case and to comment on submissions and evidence filed by the other party; the duty to effect proper notice, including delivery and language issues; the independence and impartiality of arbitrators with a focus on when an arbitrator’s conduct can become the basis for a successful challenge; and courts’ standards of deference when examining issues arising at the post-award stage. An introductory general report thoroughly analyses the normative basis of due process and its interplay with party autonomy, as well as applicable standards of review and commonalities among manifestations of due process across jurisdictions. A signal contribution to the debate regarding the so-called due process paranoia affecting arbitral tribunals—a topic relevant in every single arbitration proceeding – this book provides practical guidelines on how to maintain the balance between due process and efficiency and how to apply due process and counteract its misuse in arbitration proceedings. It will be welcomed by counsel, arbitrators, and judges from all countries, as well as by academics and researchers concerned with international commercial arbitration.
Forum Shopping and International Commercial Law

Franco Ferrari and Aaron D. Simowitz

Commentators and courts disagree on such fundamental issues as the definition of forum shopping and whether it is an ‘unsung virtue’ or an untrammelled vice. Disagreements persist on how to deal with “virtuous” forum shopping or how best to proscribe “evil” forum shopping, if such a distinction can at all be made. The articles reprinted in this three-volume collection illuminate, explore and contest these questions. Volume I analyses the definitions and purposes of forum shopping, the right and duty to practise it and how it relates to private international law. Volume II focuses on the link between forum shopping and uniform substantive law as well as discussing jurisdictional issues and arbitration. Volume III investigates defamation, intellectual property and competition law, as well as examining insolvency proceedings along with treaty shopping. Together with an introduction by the editors, this collection provides a comprehensive overview of the topic and will prove useful to academics, students and practitioners alike.
Cases and Materials on U.S. Antitrust in Global Context

Eleanor M. Fox and Daniel A. Crane

The Fox/Crane casebook is rich with political economy, economics, global perspective, and in general the analytics of solving contemporary antitrust problems in the United States and the world. Useful in a 3 or 4-credit course and as a desk book, the volume features the contemporary debates about big data platforms and their antitrust accountability, all of the landmark U.S. antitrust cases, the debate about goals, the effects of new technologies, and references to converging and diverging European, South African and other jurisprudence. It provides a clear presentation of the tools for analysis, examining assumptions that may influence outcomes. The work is unique in its probing questions that explore the line between hard competition and abuse of power, and its problem sets for analysis and debate.
Judicial Decision-Making: A Coursebook

Barry Friedman, Margaret H. Lemos, Andrew D. Martin, Tom S. Clark, Allison Orr Larsen, and Anna Harvey

This book is the only comprehensive treatment of judicial decision-making that combines social science with a sophisticated understanding of law and legal institutions. It is designed for everyone from undergraduates to law students and graduate students. Topics include whether the identity of the judge matters in deciding a case, how different types of lawyers and litigants shape the work of judges, how judges follow or defy the decisions of higher courts, how judges bargain with one another on multi-member courts, how judges get and keep their jobs, and how the judicial branch interacts with the other branches of government and the general public. The book explains how these individual and institutional features affect who wins and loses cases, and how the law itself is changed. It is built around well-known and accessible disputes such as gay marriage, women’s rights, Obamacare, and the death penalty; and it offers students a new way to think about familiar legal issues and demonstrates how legal and social-science perspectives can produce a better understanding of courts and judges.
Principles of Products Liability

Mark A. Geistfeld

A state-of-the-art study of products liability, showing how ancient laws have evolved into liability rules capable of solving the safety questions raised by new or emerging technologies, ranging from autonomous vehicles to the Amazon online marketplace. The rule of strict products liability from the last century has been transformed into a more comprehensive liability regime—“strict products liability 2.0”—that incorporates the risk-utility test into the consumer-expectations framework of strict products liability. Across the important issues, this form of liability sharpens the inquiry about what’s at stake, supplying strong rationales for a host of otherwise contentious doctrines—from federal preemption to the relevance of scientific evidence in toxic-tort cases. The analysis throughout relies on extended discussion of the black-letter rules and associated controversies in the case law, providing a solid foundation for understanding this vitally important area of the law.
The Birth of Doubt: Confronting Uncertainty in Early Rabbinic Literature

Moshe Halbertal and Elli Fisher

A systematic attempt to understand the rabbinic world through its approach to confronting uncertainty In the history of halakhah, the treatment of uncertainty became one of the most complex fields of intense study. In his latest book, Moshe Halbertal focuses on examining the point of origin of the study of uncertainty in early rabbinic literature, including the Mishnah, Tosefta, and halakhic midrashim. Halbertal explores instructions concerning how to behave in situations of uncertainty ranging from matters of ritual purity, to lineage and marriage, to monetary law, and to the laws of forbidden foods. This examination of the rules of uncertainty introduced in early rabbinic literature reveals that these rules were not aimed at avoiding but rather at dwelling in the midst of uncertainty, thus rejecting the sectarian isolationism that sought to minimize a community's experience of and friction with uncertainty. Features: A thorough investigation of the principles concerning how to behave in cases of uncertainty An examination of two distinct modes for coping with uncertainty.
Nahmanides: Law and Mysticism

Moshe Halbertal and Daniel Tabak

A broad, systematic account of one of the most original and creative kabbalists, biblical interpreters, and Talmudic scholars the Jewish tradition has ever produced, Rabbi Moses b. Nahman (1194-1270), known in English as Nahmanides, was the greatest Talmudic scholar of the thirteenth century and one of the deepest and most original biblical interpreters. Beyond his monumental scholastic achievements, Nahmanides was a distinguished kabbalist and mystic, and in his commentary on the Torah he dispensed esoteric kabbalistic teachings that he termed “By Way of Truth.” This broad, systematic account of Nahmanides's thought explores his conception of halakhah and his approach to the central concerns of medieval Jewish thought, including notions of God, history, revelation, and the reasons for the commandments. The relationship between Nahmanides's kabbalah and mysticism and the existential religious drive that nourishes them, as well as the legal and exoteric aspects of his thinking, are at the center of the book's portrayal of Nahmanides as a complex and transformative thinker.
Democratic Federalism: The Economics, Politics, and Law of Federal Governance

Robert P. Inman and Daniel L. Rubinfeld

An authoritative guide to federal democracy from two respected experts in the field. Around the world, federalism has emerged as the system of choice for nascent republics and established nations alike. In this book, leading scholars and governmental advisers Robert Inman and Daniel Rubinfeld consider the most promising forms of federal governance and the most effective path to enacting federal policies. The result is an essential guide to federalism, its principles, its applications, and its potential to enhance democratic governance. Drawing on the latest work from economics, political science, and law, Inman and Rubinfeld assess different models of federalism and their relative abilities to promote economic efficiency, encourage the participation of citizens, and protect individual liberties. Under the right conditions, the authors argue, a federal democracy—including a national legislature with locally elected representatives—can best achieve these goals. Because a stable union between the national and local governments is key, Inman and Rubinfeld also propose an innovative method for evaluating new federal laws and their possible impact on state and local governments. Finally, to show what the adoption of federalism can mean for citizens, the authors discuss the evolution of governance in the European Union and South Africa’s transition from apartheid to a multiracial democracy. Interdisciplinary in approach, Democratic Federalism brims with applicable policy ideas and comparative case studies of global significance. This book is indispensable for understanding the importance of federal forms of government—both in recent history and, crucially, for future democracies.
Public Reason and Courts

Silje Langvatn, Mattias Kumm, and Wojciech Sadurski

Public Reason and Courts is an interdisciplinary study of public reason and courts with contributions from leading scholars in legal theory, political philosophy and political science. The book's chapters demonstrate the breadth of ways in which public reason and public justification is currently seen as relevant for adjudicative reasoning and review practices, and includes critical assessments of different ways that the idea of public reason has been applied to courts. It shows that public reason is not just an abstract theoretical concept used by political philosophers, but an idea that spurs new perspectives and normative frameworks also for legal scholars and judges. In particular, the book demonstrates the potential, and the limitations, of the idea of public reason as a source of legitimacy for courts, in a context where many courts face political backlashes and crisis of trust.
Reviving Rationality: Saving Cost-Benefit Analysis for the Sake of the Environment and Our Health

Michael A. Livermore and Richard L. Revesz

Reviving Rationality: Saving Cost-Benefit Analysis for the Sake of the Environment and Our Health explains how Donald Trump destabilized the decades-long bipartisan consensus that federal agencies must base their decisions on evidence, expertise, and analysis. Administrative agencies are charged by law with protecting values like stable financial markets and clean air. Their decisions often have profound consequences, affecting everything from the safety of workplaces to access to the dream of home ownership. Under the Trump administration, agencies have been hampered in their ability to advance these missions by the conflicting ideological whims of a changing cast of political appointees and overwhelming pressure from well-connected interest groups. Inconvenient evidence has been ignored, experts have been sidelined, and analysis has been used to obscure facts rather than inform the public. The results are grim: incoherent policy, social division, defeats in court, a demoralized federal workforce, and a loss of faith in government’s ability to respond to pressing problems. This experiment in abandoning the norms of good governance has been a disaster. Reviving Rationality explains how and why our government has abandoned rationality in recent years, and why it is so important for future administrations to restore rigorous and even-handed cost-benefit analysis if we are to return to a policymaking approach that effectively tackles the most pressing problems of our era.
The United Nations and Human Rights: A Critical Appraisal

Frédéric Mégret and Philip G. Alston

The very concept of human rights implies governmental accountability. To ensure that governments are indeed held accountable for their treatment of citizens and others the United Nations has established a wide range of mechanisms to monitor compliance, and to seek to prevent as well as respond to violations. The panoply of implementation measures that the UN has taken since 1945 has resulted in a diverse and complex set of institutional arrangements, the effectiveness of which varies widely. Indeed, there is much doubt as to the effectiveness of much of the UN's human rights efforts but also about what direction it should take. Inevitable instances of politicization and the hostile, or at best ambivalent, attitude of most governments, has at times endangered the fragile progress made on the more technical fronts. At the same time, technical efforts cannot dispense with the complex politics of actualizing the promise of human rights at and through the UN. In addition to significant actual and potential problems of duplication, overlapping and inconsistent approaches, there are major problems of under-funding and insufficient expertise. The complexity of these arrangements and the difficulty in evaluating their impact makes a comprehensive guide of the type provided here all the more indispensable. These essays critically examine the functions, procedures, and performance of each of the major UN organs dealing with human rights, including the Security Council and the International Court of Justice as well as the more specialized bodies monitoring the implementation of human rights treaties. Significant attention is devoted to the considerable efforts at reforming the UN's human rights machinery, as illustrated most notably by the creation of the Human Rights Council to replace the Commission on Human Rights. The book also looks at the relationship between the various bodies and the potential for major reforms and restructuring.
Debating Targeted Killing: Counter-Terrorism or Extrajudicial Execution?

Tamar Meisels and Jeremy Waldron

In this “for and against” book, Jeremy Waldron and Tamar Meisels defend competing positions on the legitimacy of targeted killing. The volume begins with a joint introduction, briefly setting out the terms of discussion, and presenting a short historical overview of the practice—i.e. what is targeted killing, and how has it been used in which conflicts and by whom. The debate opens with Meisels’ defense of targeted killing as a legitimate and desirable defensive anti-terrorism strategy, in keeping with both just war theory and international law. Meisels unreservedly defends the named killing of irregular combatants, most notably terrorists, during armed conflict. Additionally, she offers a possible moral justification for rare instances of assassination outside that framework, specifically with reference to recent cases of nuclear scientists developing weapons of mass destruction for the Iranian and Syrian governments. The debate continues with Waldron’s arguments focusing on the dangers and the inherent wrongness of governments’ having the right to maintain death lists—lists of named individuals who are to be hunted down and killed. Waldron notes the many differences between individualized targeting and ordinary combat, and he resists the attempt to assimilate targeted killing to killings in combat. Waldron also cautions us to consider carefully what a world of targeted killings will be like, the many abuses it is liable to, and why we should be very cautious, morally and strategically, in our thinking about it.
The Law of Governance, Risk Management, and Compliance

Geoffrey P. Miller

Geoffrey Miller’s The Law of Governance, Risk Management and Compliance is widely credited for introducing a new field of legal studies. Compliance and its related subjects of governance and risk management are major sources of jobs and also important developments in legal practice. The billions of dollars of fines paid over the past decade and the burgeoning and seemingly never-ending parade of compliance and risk management breakdowns – recently including the Wells Fargo sales practices scandal, the Volkswagen emissions cheat, and the Boeing 737 MAX crisis – all attest to the importance of the issues treated in this readable and timely book. New to the Third Edition: comprehensive updates on recent developments; new treatment of compliance failures: Wells Fargo account opening scandal, Volkswagen emissions cheat, important developments in Catholic Church sex abuse scandal; new treatment of risk management failures: the Boeing 737 MAX scandal. Professors and students will benefit from: clear, concise definitions; fun and interesting problems; real-world perspective from an author who has been involved both as a scholar and as a member of a corporate board of directors; highly readable and interesting writing; text boxes containing key concepts and definitions; realistic problems for class discussion and analysis.
Fundamentals of Business Enterprise Taxation: Cases and Materials

Stephen Schwarz, Daniel J. Lathrope, and Brant J. Hellwig

Offered as an alternative to the authors’ widely used separate texts on corporate and partnership tax, the Seventh Edition of this comprehensive casebook continues its tradition of providing an integrated approach to teaching the “fundamentals” of a highly complex subject with clear and engaging explanatory text, skillfully drafted problems, selective discussion of tax policy issues, and a rich mix of original source materials to accompany the Code and regulations. This extensive revision discusses all major developments since the last edition, emphasizing significant provisions of the 2017 tax legislation known as the Tax Cuts and Jobs Act. Highlights of new material covered in the Seventh Edition are: The deduction under § 199A for 20% of qualified business income from a pass-through entity. The discussion incorporates the final regulations and includes new problems. The impact on choice of entity of the 21% corporate income tax rate, lower individual rates, the 20% deduction for qualified business income, and other tax and business planning considerations. The new three-year long-term holding period required for capital gains allocable to service partners with carried interests in certain investment partnerships. A revised discussion of corporate capital structure to reflect the changed stakes resulting from the reduction of the corporate income tax rate and the new § 163(j) limitation on the deduction of business interest. New limitations on the deduction of excess business losses. Other technical changes to Subchapters K and C and regulatory developments affecting partnership liabilities and corporate divisions. S corporation developments, including the requirement to pay reasonable compensation to shareholder-employees for purposes of the § 199A qualified business income deduction.
Literature and Inequality: Nine Perspectives from the Napoleonic Era Through the First Gilded Age

Daniel N. Shaviro

Today, high-end inequality in America and peer countries is at Gilded Age levels. These matters are too important and complicated to be left just to economists. A broader sociological and humanistic approach is necessary. Great works of literature, such as those by the likes of Jane Austen, Charles Dickens, Mark Twain, and Edith Wharton, are among the resources that can help us to better understand high-end inequality’s broader, culturally contingent, ramifications – not just in the authors’ own eras but today. Daniel Shaviro’s Literature and Inequality offers a unique and accessible interdisciplinary take on how a number of great and beloved works from the nineteenth- and early-twentieth centuries help shed light on modern high-end inequality. In particular, Shaviro helps us to understand the relevance both of cultural differences between America and peer countries such as England and France, and of cultural commonalities between America’s First Gilded Age in the late-nineteenth century and its currently ongoing Second Gilded Age.
International Aspects of U.S. Income Taxation

John P. Steines Jr.

This book addresses international aspects of U.S. tax law—the rules that govern U.S. taxation of U.S. activity by foreign persons and foreign activity by U.S. persons.
Tax, Inequality, and Human Rights

Philip G. Alston and Nikki Reisch

This book looks at the linkages between human rights and tax law and reveals their mutual relevance to tackling economic, social, and political inequalities. Against the backdrop of systemic corporate tax avoidance, the widespread use of tax havens, persistent pressures to embrace austerity policies, and growing gaps between the rich and poor, this book encourages readers to understand fiscal policy as human rights policy, with profound consequences for the well-being of citizens around the world. The chapters examine where the foundational principles of tax law and human rights law intersect and diverge; discuss the cross-border nature and human rights impacts of abusive practices like tax avoidance and evasion; question the role of states in bringing transparency and accountability to tax policies and practices; highlight the responsibility of private sector actors for the shape and consequences of tax laws; and critically evaluate certain domestic tax rules through the lens of equality and nondiscrimination. The chapters explore how the international human rights framework can anchor debates around international tax reform and domestic fiscal consolidation in existing state obligations. They address what human rights law requires of state tax policies, and what a state’s tax laws and loopholes mean for the enjoyment of human rights within and outside its borders. Ultimately, tax and human rights both turn on the relationship between the individual and the state, and thus both fields face crises as the social contract frays and populist, illiberal regimes are on the rise.
Federal Income Taxation

Joseph Bankman, Daniel N. Shaviro, Kirk J. Stark, and Edward D. Kleinbard

Integrating theory and policy in an accessible format, the sterling author team of Federal Income Taxation, Eighteenth Edition imbues its subject with historical, economic, policy, and international perspective. Problems integrated throughout the text bridge the gap between theory and practice. Each edition of this renowned text builds on and adds to the strengths of its predecessors. New to the Eighteenth Edition: fully updated to reflect changes made by the Tax Cuts and Jobs Act of 2017. Professors and students will benefit from: notes, problems, and graphs that make challenging material accessible; the highest integration of economics and policy analysis; great pedigree and authorship: Original authors Boris Bittker and William A. Klein were eminent authorities (with beautiful writing styles). Bankman, Shaviro, Stark, and Kleinbard are among today's leading tax scholars; a manageable length: Even with the new material, Federal Income Taxation is still one of the shortest books around.
Prisoners of Politics: Breaking the Cycle of Mass Incarceration

Rachel E. Barkow

The United States has the world’s highest rate of incarceration, a form of punishment that ruins lives and makes a return to prison more likely. As awful as that truth is for individuals and their families, its social consequences—recycling offenders through an overwhelmed criminal justice system, ever-mounting costs, unequal treatment before the law, and a growing class of permanently criminalized citizens—are even more devastating. With the authority of a prominent legal scholar and the practical insights gained through on-the-ground work on criminal justice reform, Rachel Barkow explains how dangerous it is to base criminal justice policy on the whims of the electorate, which puts judges, sheriffs, and politicians in office. Instead, she argues for an institutional shift toward data and expertise, following the model used to set food and workplace safety rules. Barkow’s prescriptions are rooted in a thorough and refreshingly ideology-free cost–benefit analysis of how to cut mass incarceration while maintaining public safety. She points to specific policies that are deeply problematic on moral grounds and have failed to end the cycle of recidivism. Her concrete proposals draw on the best empirical information available to prevent crime and improve the reentry of former prisoners into society. Prisoners of Politics aims to free criminal justice policy from the political arena, where it has repeatedly fallen prey to irrational fears and personal interest, and demonstrates that a few simple changes could make us all safer.
Securities Regulation: Cases and Analysis

Stephen J. Choi and A. C. Pritchard

This casebook offers a clear and concise introduction to the economics and regulation of securities markets, with a single-minded focus on disclosure and the economics of disclosure. It is concise, easy to read, and student friendly. The casebook makes securities regulation easy to teach and understand. It focuses on the important principles students need to understand to be effective corporate lawyers. The chapters are organized around motivating hypotheticals that illustrate the various issues relating to each chapter’s topic. These hypotheticals make it easier for the students to follow the material. In addition, they are a useful teaching device allowing students to grapple with issues that they are likely to face as corporate lawyers. The supporting materials for the book also provide role-playing and prospectus-drafting exercises to involve students in learning tedious securities materials (e.g, prospectuses). The book avoids policy debates and instead focuses on understanding the rules as they are. It contains tables and charts to organize complicated material, along with a comprehensive set of PowerPoint slides for presenting the material. This casebook focuses on overarching topics such as materiality and the definition of a security up front, before delving into the details of how the Securities Exchange Act of 1934 and the Securities Act of 1933 operate. The Sarbanes-Oxley, Dodd-Frank, and JOBS Act (JOBS Act), are all covered, with separate chapters devoted to enforcement and gatekeepers. The Fifth Edition has been revised to reflect significant developments in securities fraud litigation and insider trading, as well as new material relating to cybersecurity and cryptocurrency.