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The economics of victim compensation
Congress has considered adopting a program to provide a 75 percent subsidy for the costs of state programs which would give payments to the victims of criminal attacks. All victims, in state and federal jurisdictions, would be compensated for their losses, should they not have sufficient private insurance. The traditional arguments made for victim compensation are reviewed and criticized. An institutional history of the victim's role in society discusses the various forms of compensation that existed in different jurisdictions. The distinction between civil law and criminal law appeared to lead to the demise of compensation by the criminal. The various forms of public compensation adopted in most Anglo-Saxon countries since the early 1960s are reviewed. After deriving an estimate of the possible costs of public victim compensation in the United States, the theory of public choice is applied to explain the origins of the political pressures for the compensation program. The theory of bureaucracy produces predictions as to the impact of the federal subsidy to state programs and with respect to the motives of the administrators of such programs. Rawlsian notions of justice provide a proper perspective for a consideration of equity in a democratic setting. The application of such a paradigm of justice does not, contrary to the traditional views on equity, generate a compensation program of the nature of the one considered here. A program designed to be just and to provide equal treatment for equal victims would also be based on some criterion of efficiency. The moral hazard problem is discussed with respect to public compensation. A simple economic model is developed to display the possible inefficiency of the compensation program as currently proposed. Finally, the growth of crime and the decline in punishment over the last three decades are explored. If there has been a collective loss of will to enforce the laws and punish the law-breakers, victim compensation may be nothing more than a perverse response to the problems generated by a change in behavioral standards with respect to crime. ; Ph. D.
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Common law environmentalism
In: Public choice, Band 94, S. 49-66
ISSN: 0048-5829
Discusses common law protection of environmental rights, regulatory and statutory alternatives, and the rule of law; primarily in the US. Remedies for air and subsurface water and land pollution.
Common law environmentalism
In: Public choice, Band 94, Heft 1-2, S. 49-66
ISSN: 0048-5829
The common law and the environment: rethinking the statutory basis for modern environmental law
In: The political economy forum
Intermediate microeconomics, Hauptband,3,1, [Hauptband]
In: Intermediate microeconomics Hauptband,3,1
Law and Political Economy: Missing Markets, Missing Law, and Missing Political Economy
In: Texas A&M University School of Law Legal Studies Research Paper No. 24-42
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Unpacking Coasian 'Red Boxes': Universities and Commercialization
In: Texas A&M University School of Law Legal Studies Research Paper No. 22-19
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Addressing Green Energy's 'Resource Curse'
In: Texas A&M University School of Law Legal Studies Research Paper No. 22-31
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The contractual alternative to patents
In: International review of law and economics, Band 1, Heft 2, S. 227-231
ISSN: 0144-8188
Institutional changes, reported unemployment, and induced institutional changes
In: Carnegie Rochester Conference series on public policy: a bi-annual conference proceedings, Band 10, S. 205-235
ISSN: 0167-2231
Corporate Social Responsibility: Private Means for Public Wants?
In: Policy review: the journal of American citizenship, Band 5, S. 79-95
ISSN: 0146-5945
Although Secretary of Commerce J. Kreps has pledged her support to a policy & program promoting corporate social responsibility, whereby the business sector would bear the responsibility & cost of certain programs of social reform, there is good reason to believe that corporate intervention in the area of social reform is neither appropriate nor desirable. Corporate executives are no more, & perhaps less, likely than the appropriate government agencies to choose correctly not only the solutions to social problems, but even the problems themselves. Furthermore, corporate executives would not be acting under the constraints imposed on elected or appointed officials by their constituents. Corporations respond to consumers, who are not likely to regard the social performance of a corporation in making consumer choices, & to investors, who thus far have failed to respond to experimental efforts to interest them in socially responsible corporations. Although the corporation might be considered a type of democracy, there being elective means to replace its officers, the corporate executive acts with greater autonomy than the government official & is thus more likely to assume power & follow personal, rather than public, interests in choosing social reform programs. S. Stanton.