This paper provides an empirical study of Italian ‘boutique law firms’. By building on seventeen semi-structured interviews with lawyers, the paper explores institutional, professional, and societal features of such firms and their lawyers. The article shows that, while the rise of large law firms triggered a partitioning of the Italian legal field in the past decades, more recently this small, but economically important, sector of the profession revived the classic model of delivering legal services characterised by (...) a strong sense of autonomy and independence, a client-centered but ethically robust approach to legal practice, a close relationship with academic and political environments, and a focus on projecting a professional image of themselves and their firms in society. These are, in other words, the last bastion of professionalism and are increasingly gaining an important role in the Italian field. (shrink)

The vast majority of Biblical historians believe there is evidence sufficient to place Jesus’ existence beyond reasonable doubt. Many believe the New Testamentdocuments alone suffice firmly to establish Jesus as an actual, historical figure. I question these views. In particular, I argue (i) that the three most popular criteria by which various non-miraculous New Testament claims made about Jesus are supposedly corroborated are not sufficient, either singly or jointly, to place his existence beyond reasonable doubt, and (ii) that a prima (...) facie plausible principle concerning how evidence should be assessed—a principle I call the contamination principle—entails that, given the large proportion of uncorroborated miracle claims made about Jesus in the New Testament documents, we should, in the absence of good independent evidence for an historical Jesus, remain sceptical about his existence. (shrink)

Jacques Derrida offers his recent commentary on the early career of Paul de Man as an urgent intervention in a discussion he fears is going awry. The most pressing danger he sees in the recent revelations is that they have played into the hands of de Man’s antagonists, who are now ready to denounce the whole of his career and even deconstruction itself. Against such indiscriminate critiques Derrida hurls the epithet: totalitarian. He is attempting to reseize the initiative in the (...) discussion and to reset the terms of the debate. His agenda extends across historical, theoretical, and political questions.He wants to affirm that a radical, indeed absolute break separates the later from the earlier de Man. He also wants to show that the young de man, however firmly committed to fascist ideology and however much an accomplice of the Nazis occupying Belgium, at the same time regularly distanced himself from that ideology and even undermined its meanings. Moreover, Derrida boldly takes up the challenge that these revelations have cast on the intellectual movement he and de Man have shaped. Can deconstruction come to grips with the political and intellectual history of its own leading American proponent? And can deconstruction in the process make a distinctive contribution to the understanding of fascism and intellectuals’ participation in it? John Brenkman is associate professor of English at Northwestern University. He is the author of Culture and Domination . Jules David Law is assistant professor of English at Northwestern University. He is currently working on a book-length study of the metaphors of surface, depth, and reflection in eighteenth- and nineteenth-century British prose. (shrink)

This article examines the findings of an empirical study of law students from the Singapore Management University on their internship experiences at private law firms. As internships are frequently undertaken by law students, it is necessary for stakeholders to understand their impact on the values and ideals of law students in relation to the law and legal practice. This article seeks to increase the consciousness of law school educators, lawyers, and the professional bar about how law firm internships are (...) contributing to the making of future lawyers, so as to facilitate the reflection by these parties as to their roles in shaping future lawyers. (shrink)

This article examines the influence of the City law firms, operating through their representative body, the City of London Law Society, in shaping the?professional rules governing conflicts of interest in England and Wales, including a recent failed attempt to allow firms to act for sophisticated clients on either side of the same transaction.? It compares English developments with those in the US and Canada finding that, in all three, it is argued that conflicts rules should be relaxed to (...) meet the needs of sophisticated clients and address the economic realities of legal practice. It argues however that in England the CLLS lobbied for change to promote the economic interests of large law firms whilst paying scant regard to the public interests in publicly owned companies having independent representation, in lawyers maintaining independence from powerful clients, in promoting competition, and in maintaining public confidence in the profession.?It considers what this tells us about corporate lawyers? approach to their professional role. Finally it considers the future of conflicts regulation in large firms in England and Wales given the introduction of alternative business structures and the move to principles based, outcomes focussed, and entity regulation. (shrink)

The processes of economic integration induced by globalization have brought about a certain type of legal practice that challenges the core values of legal ethics. Law firms seeking to represent the interests of internationally active corporate clients must embrace and systematically apply concepts of strategic management and planning and install corporate business structures to sustain competition for lucrative clients. These measures bear a high conflict potential with the core values of legal ethics. However, we observe in parallel a global (...) consolidation of these core values through an enhanced cooperation of national professional bodies, the use of international codes, and comparative legal ethics teaching and research. Furthermore, state regulation of the legal profession is concerned with preserving the core values of legal ethics to conserve the lawyer's role in upholding the rule of law. This article defends that legal ethics is adapting to the pressures exerted by "managerial" approaches to legal practice without this altering core values that underlie legal ethics. (shrink)

Legal tech is growing, and its growth provokes anxieties about the future of the legal profession as such. In this article, we examine the impact of legal tech on the central role of lawyers at law firms in crafting an imagined ‘right legal answer’ by drawing on Duncan Kennedy’s suggestion that a claim to the rightness of one’s legal propositions is a central characteristic of the legal profession. We first ask how changes in the organisation of legal services affect (...) the ability of lawyers at law firms to produce that ‘right legal answer’. While legal tech only exacerbates already ongoing processes of eradication of routine tasks, we find that it continues to mask the role of ideology in arriving at a right legal answer under a new layer of technological projection. Second, we ask how lawyers’ ability to produce ‘the right legal answer’ is affected by, first, expert systems and, second, a legal tech application named Bryter, representing a no-code system. We find that expert systems do not permit to uphold the unity of the lawyer required for Kennedy’s model of the right legal answer, but that no-code systems as Bryter do so. No-code systems can be reduced to a slogan: Have the lawyer, but evict her ideological temptations more efficiently than before! (shrink)

ABSTRACTAt its core, corporate social responsibility concerns the impacts of businesses on their surroundings. Despite their significant economic and geographic presence, and despite the varied disciplinary and conceptual lenses used to study CSR, there is very little existing work looking at law firms and their own CSR policies. This paper fills part of that gap. In August 2014, we reviewed the websites of the top 100 English law firms, as ranked by the trade publication The Lawyer. We were (...) interested in public disclosures made by those law firms on CSR. These were widespread. The majority of the top 100 firms say something to the wider world about CSR. However, what is said varies significantly. This is, perhaps, unsurprising. What is more surprising is that so few firms explain why they are committed to CSR. Where firms do make disclosures on CSR, these tend to group around the following three areas: pro bono and community giving; (ii... (shrink)

By promoting greater alignment between law and capital, litigation financing has the potential to further escalate the substantial restructuring that is occurring throughout the legal profession. This article examines regulation of the relationship between litigation funders and lawyers in three common law jurisdictions: the United Kingdom; the United States; and Australia, against the backdrop of a sea change in the way in which legal services are being delivered. It argues that a broad prescriptive approach rather than proscriptive prohibitions are the (...) best way to regulate the emerging relationship between law and capital. (shrink)

This paper offers some resources for the development of moral sensitivity in law schools and law firms. It does so, first, on the basis of a picture of legal life, which draws on the embodied-connectionist strand in cognitive science. Legal life requires role-differentiated behaviour, and immersion in these roles, and associated tasks, has the consequence that persons are oriented to notice only certain things rather than others (where those things will sometimes be morally relevant things to notice). Further, the (...) lawyer-client relationship is one characterised by the exercise of dominance, control and manipulation (by the lawyer) of a client dependent on the exercise of the lawyer's expertise. Moral education in law schools and law firms must help alleviate the problematic effects of these features of legal life on the moral sensitivity of persons. It can do so by the education of attention and encounter. Both terms are discussed and, by drawing on the Beyond Text in Legal Education project at the University of Edinburgh, associated pedagogical activities are described. Finally, the activities proposed, and their policy implications, are considered by reference to the wider concerns of both tertiary and professional legal education. (shrink)

A number of high-profile campaigns relating to diversity have focussed on the large law firm sector since the mid-2000s. Reflecting on what has been called the 'diversity approach' to equality management, they have emphasised voluntary action based on business case reasoning. This paper considers the impact of these campaigns in practice, focusing on the dynamics of diversity policy-making within firms. Drawing upon empirical work conducted in large law firms, it explores the perspective of newly appointed diversity staff who (...) have day to day responsibility for diversity policies in the majority of large law firms. It discusses research findings that show while certain policies were being implemented across the large law firm sector, much turns on the position of diversity staff within firms and their ability to conduct in-house negotiations effectively, to compromise and downplay the potential for disruption to the status quo. On the basis of this research I consider the ongoing debates about holding law firms to account with respect to the diversity of their workforce. While the strategy of pressuring firms to disclose 'diversity data' is gathering pace, the paper recommends an open discussion about the goals of diversity policy-making as a pre-condition of greater accountability. (shrink)

Although women comprise almost 50 per cent of the practising legal profession in Australia and elsewhere, numerosity is insufficient to overcome the 'otherness' of the feminine in corporate law firms. Despite measures to recognise the ethic of a balanced life for those with caring responsibilities, these initiatives are undermined by the contemporary imperative in favour of competition. This article argues that there is a hypermasculinist sub-text invoked by the media reporting of a flurry of mergers between super-élite London-based global (...) law firms and Australian firms with an eye to expansion in the Asia-Pacific. It is suggested that the incommensurability of the discourses of flexible work and hypercompetition symbolically revives and sustains the masculinity of super-élite law firms as the gender tipping point draws nigh. To illustrate the thesis, the representation of the two discourses in the print media between 2011 and 2012 are considered, drawing primarily on The Times and The Australian. (shrink)

Despite the fact that corporate law firms attract some of the most intelligent and productive minds in business today, they have failed to cultivate a workplace that facilitates healthy and balanced lives for their practitioners. Workplace stress in the sector is manifest in a culture which continues to sanction 'rite of passage' work practices which bolster earnings for those at the apex but are proving sickening to many. This culture inhibits basic ethical human interaction based on decency and respect (...) and cultivates oppression through fear of failure. Not surprisingly then, bullying is tolerated and lawyer attrition is rife, particularly for junior women lawyers. This article considers the impact of bullying in Australian corporate law firms. Foucauldian thought is utilised in order to better understand first, how the organisational culture in major law firms continues to authorise practices which prove injurious to practitioners' health and secondly, the resulting lawyer attrition. It is argued that the 'disciplinary technologies' being adopted by management function to assure an economy of power relations which not only facilitates conformity with the values and imperatives of the firm but also, the quelling of subversion and resistance to its effects. Standpoint theory is adopted to examine the workplace harms being borne by junior lawyers through a narrative 'Snapshot' of the experience of a female, mature-aged, junior lawyer working as a solicitor at a top tier Australian corporate law firm. Her detailed account illuminates recent quantitative empirical research into the experiences of Australian women lawyers and lays bare the culture of fear and workings of power, violence and marginalisation within the firm. (shrink)

This paper analyzes ethical issues relating to lawyer mobility.

Despite FDA recommendations against the practice, keepsake fetal imaging centers have become more common in the United States. U.S. ultrasound regulations construct keepsake imaging in relation to medical practice, yet these centers blur the boundary between medical and nonmedical. Analyzing keepsake imaging centers in two U.S. states demonstrates how centers both appeal to medical expertise to promote their services and extend an intensive mothering ideal to the prenatal stage. To understand keepsake ultrasound, we must account for the role of consumerism (...) in creating pregnant mothers and how keepsake centers constitute ultrasound as a means of expressing mother-love before birth. (shrink)

The criminal law requires citizens to demonstrate ‘reasonable firmness’ in the face of temptations to violate its provisions. But what if individuals repeatedly face powerful temptations to offend, are not responsible for being in such predicaments, cannot escape them, and cannot alter or expunge their desires because they count as urgent on any plausible account of a decent human life? Should the criminal law make some sort of allowance for the chronically tempted? I argue that it should, because individuals in (...) such predicaments will have to exhibit exemplary if not extraordinary self-control. Intuitively, such self-control is more than the criminal law can reasonably demand of individuals. Also, there is empirical evidence that repeated acts of self-control wear down individuals. Numerous objections to the position I defend are addressed and its implications for the criminal law are briefly explored. (shrink)

Firms may find competitive adjustment difficult because they are hamstrung by rigid labor market rules. However, such difficulties may also be caused by conflicts between strategic choices in the management of human capital and the opportunities and limitations created by a given regulatory framework. This latter possibility has been almost totally ignored in the debate regarding the urgency and content of labor market reforms in countries whose labor market institutions have been labeled as “rigid” by international experts. This article (...) uses the results of qualitative interviews with Spanish employers to suggest that strategic choices may be far more important in determining the consequences of labor market institutions than is generally recognized. I show that these choices are often the result of beliefs about how labor market institutions should work. These findings suggest that supposedly “neutral” calls for greater efficiency in labor market institutions are really arguments about the relative appropriateness of different expectations regarding how firms should pursue adjustment, expectations that are directly related both to the relative balance of power between employers and workers and to the structure of their relationship. In other words, the phrase “politics of labor market reform” should be understood to refer not only to the political consequences of reforms but also to the inherently political nature of the reforms themselves. (shrink)

The paper discusses the structure, applications, and plausibility of the much-used parallel-case argument for workplace democracy. The argument rests on an analogy between firms and states according to which the justification of democracy in the state implies its justification in the workplace. The contribution of the paper is threefold. First, the argument is illustrated by applying it to two usual objections to workplace democracy, namely, that employees lack the expertise required to run a firm and that only capital suppliers (...) should have a say over the governance of the firm. Second, the structure of the argument is unfolded. Third, two salient similarities between firms and states regarding their internal and external effects and the standing of their members are addressed in order to asses the potential and limits of the argument, as well as three relevant differences regarding the voluntariness of their membership, the narrowness of their goals, and the stiffness of the competition they face. After considering these similarities and differences, the paper contends that the the parallel-case argument provides a sound reason in favor of democracy in the workplace—a reason, however, that needs to be importantly qualified and that is only pro tanto. (shrink)

Firms’ choice of legal regime is not uniform. Despite Delaware’s significant advantages and success in attracting corporations, many firms still choose to incorporate in their home state, and some firms incorporate in a third state, most notably Nevada. Several factors - lawyers’ advice, political influence in the home state, and relative costs of out of state incorporation - were identified as contributing to these patterns. Yet none of these factors neither their combination, fully account for firms’ (...) choices. This Article suggests that unidentified heterogeneity, potentially in managers’ preferences for legal protection, might have contributed to, and could help in explaining, these patterns. Among other factors, this heterogeneity could result, for example, from variations in market forces and, in turn, private benefits that managers extract. Introducing heterogeneity in managers’ preferences, this Article suggests that managers that share a relatively strong preference for insider protection should be less inclined to incorporate in Delaware, and more inclined to incorporate in their home state where they have political clout, or in Nevada if their strong preference for protection is not satisfied in their home state. The analysis is too preliminary for normative implications to be derived, rather the Article suggests that more research into firms’ heterogeneity and their choice of law could prove valuable. (shrink)

The profession of medicine is predicated upon an ethical mandate: first do no harm. However, critics charge that the medical profession’s culture and its public health mission are being undermined by the pharmaceutical industry’s wide-ranging influence. In this article, we analyze how drug firms influence psychiatric taxonomy and treatment guidelines such that these resources may serve commercial rather than public health interests. Moving beyond a conflict-ofinterest model, we use the conceptual and normative framework of institutional corruption to examine how (...) organized psychiatry’s dependence on drug firms has distorted science. We suggest that academic-industry relationships have led to the corruption of the evidence base upon which accurate diagnosis and sound treatment depend. We describe the current dependency corruption and argue that transparency alone is not a solution — and sometimes even produces iatrogenic effects. Furthermore, we argue that the corruption of the evidence base for diagnostic and practice guidelines renders obsolete the traditional informed consent process, and we offer suggestions for reforming this process. (shrink)

This volume offers a new point of entry into questions about how the law conceives of states and firms. Because states and firms are fictitious constructs rather than products of evolutionary biology, the law dictates which acts should be attributed to each entity, and by which actors. Those legal decisions construct firms and states by attributing identity and consequences to them. As the volume shows, these legal decisions are often products of path dependence or conceptual metaphors like (...) “personhood” that have expanded beyond their original uses. Focusing on attribution, the volume considers an array of questions about artificial entities that are usually divided into doctrinal siloes. These include questions about attribution of international legal responsibility to states and state-owned entities, transnational attribution of liabilities to firms, and attribution of identity rights to corporations. Durkee highlights the artificiality of doctrines that construct firms and states, and therefore their susceptibility to change. (shrink)

The possibility that industry is exerting an undue influence on the culture of medicine has profound implications for the profession's public health mission. Policy analysts, investigative journalists, researchers, and clinicians have questioned whether academic-industry relationships have had a corrupting effect on evidence-based medicine. Psychiatry has been at the heart of this epistemic and ethical crisis in medicine. This article examines how commercial entities, such as pharmaceutical companies, influence psychiatric taxonomy and treatment guidelines. Using the conceptual framework of institutional corruption, we (...) show that organized psychiatry's dependence on drug firms has led to a distortion of science. We describe the current dependency corruption and argue that transparency alone is not a solution. We conclude by taking the position that the corruption of the evidence base in diagnostic and practice guidelines has compromised the informed consent process, and we suggest strategies to address this problem. (shrink)

Corporate social irresponsibility (CSI) and other questionable business incidents that appear to harm stakeholders frequently afflict firms yet draw disparate investor reactions. We address this disparity by investigating the association between firm legal orientation and investor reactions to CSI. We hypothesize the proportion of board members and top management team (TMT) executives with law degrees affects investor perceptions of firm foresight, and in turn, their judgment of blame and consequent punishment. Based on abnormal returns to 629 announcements of CSI (...) and 308 publicly traded S&P 500 firms, we find that both too small and too large a proportion of board of directors and TMT members with law degrees lead investors to mete out harsher punishment. This inverted u‐shaped link is further affected by firm size, firm risk, and industry competition. Our investigation sheds light on the link between executive education and financial performance in the context of CSI and investor perceptions of foresight. (shrink)

This book examines transaction cost economics, the influential theoretical perspective on organizations and industry that was the subject of Oliver Williamson's seminal book,Markets and Hierarchies. Written by leading economists, sociologists, and political scientists, the essays collected here reflect the fruitful intellectual exchange that is occurring across the major social science disciplines. They examine transaction cost economics' general conceptual orientation, its specific theoretical propositions, its applications to policy, and its use in systematic empirical research. The chapters include classic texts, broad review (...) essays, reflective commentaries, and several new contributions to a wide range of topics, including organizations, regulations and law, institutions, strategic management, game theory, entrepreneurship, innovation, finance, and technical information. The book begins with an overview of theory and research on transaction cost economics, highlighting the specific accomplishments of scholars working within the perspective and emphasizing the enormous influence that transaction cost reasoning exerts on the social sciences. The following section covers conceptual uses for the transaction cost framework and major theoretical or methodological elements within it, such as bounded rationality. While advancing some interesting theoretical propositions, these chapters are in fact more ambitious: each examines a specific field, area, or research program and attempts to fashion a new way of thinking about research questions. In the section on industrial applications, contributors study the application of transaction cost theory to a range of problems in utilities, telecommunications, laser printing, and early international trade. The book closes with four microanalytical chapters that delve into the structures and behaviors of specific aspects of firms and organizations: boards of directors, equity structures, employment models, human resource policies and practices, technology strategies, and innovation events. Firms, Markets, and Hierarchies collects excellent social science work on transaction cost economics, taking stock of its status, charting its future development, and fostering its renewal and evolution. (shrink)

Whether firms can be said to be moral agents and to have the capacity for moral responsibility has significant practical consequences. In most legal systems in the world, business firms are recognized as persons with the ability to own property, to maintain and defend lawsuits, and to self-organize governance structures. To recognize that these business persons can also act morally or immorally as organizations, however, would justify the imposition of other legal constraints and normative expectations on organizations. In (...) the criminal law, for example, the idea that an organized firm may itself have criminal culpability is accepted in many countries (such as the United States) but rejected in others (such as Germany). This book collects new contributions by leading business scholars in business ethics, philosophy, and related disciplines to extend our understanding of the moral responsibility of firms. (shrink)

In four new and nine previously published essays, Joseph Heath provides a compelling new framework for thinking about the moral obligations of economic actors. The "market failures" approach to business ethics that he develops provides the basis for a unified theory of business ethics, corporate law, economic regulation, and the welfare state.

We use the U.S. Supreme Court’s decision in Citizens United v. Federal Election Commission to assess the reputational risks created by political investment opportunities that allow managers to spend unlimited and potentially undisclosed firm resources on independent political expenditures. This new opportunity raises important ethical questions, as it is difficult, and perhaps impossible, under current law for shareholders to hold managers accountable for this investment choice and the reputational risks it entails. Using firms’ known political activity as a proxy (...) for managers’ likely future use of independent political expenditures, we examine how market participants reacted to Citizens United, conditional on this prior activity and corporate governance attributes related to the concentration of decision rights in senior management and blockholders. The results of our analyses document that firms with both a high level of known political activity and CEO-chairperson of the board duality experienced negative abnormal returns in reaction to Citizens United. In contrast, firms with concentrated ownership experienced positive abnormal returns; however, as known political activity increased, investors discounted the benefits of concentrated ownership. These findings suggest that investors expect this expansion of firms’ political investment opportunities to amplify principal-agent problems inherent in corporate political activity. Additionally, our findings provide evidence for those deliberating the mandatory disclosure of firms’ investments in politics as a means of increasing managerial accountability to both shareholders and the public. (shrink)

In this article, we examine the factors determining the representation of women on boards of directors by considering three main questions. The first question deals with the relationship between characteristics of ownership and governance on one side, and female directorship on the other. The second major question concerns the demographic attributes of women directors, such as nationality, foreign experience, educational level, business expertise, and connections to external sources. The third important question refers to women in senior positions on French boards (...) (e.g., as independent members or board subcommittee members) in relation to firm characteristics and women’s demographic attributes. Our study focuses on French large- and mid-capitalized companies belonging to the SBF120 stock market index during a 5-year period running from 2000 to 2004. First, our results give evidence that the appointment of women directors is strongly related to family ownership and board or firm size. Second, the appointment of women directors is related to their professional services, valuable skills, and network links. Furthermore, we show that women face a double glass-ceiling problem, and note that French firms rely more on the demographic attributes of their women directors when they are appointed to senior board positions. Our study sheds light on issues concerning the law that comes into force in 2016, which imposes quotas of women members on boards of directors in French companies. (shrink)

Business codes are an oft-cited management instrument. But how common are codes among multinationals? And what is their content? In an unprecedented study, the codes of the largest corporations in the world have been collected and thoroughly analyzed. This paper presents the results of that study. Of the two hundred largest companies in the world, 52.5% have a code. More than half of these codes describe company responsibilities regarding quality of products and services (67%), adherence to local laws and regulations (...) (57%) and the protection of the natural environment (56%). Many codes make reference to principles governing stakeholder relations (e.g. transparency (55%), honesty (50%) and fairness (45%)), corporate core values (e.g. teamwork (43%)), appropriate conduct among employees (e.g. discrimination (44%) and intimidation (43%)) and treatment of company property by employees (e.g. conflict of interests (52%), corruption (46%) and fraud (45%)). Monitoring compliance with the code is addressed in 52% of the codes. Based on this content study, three types of codes are distinguished: the stakeholder statute (72%), the values statement (49%) and the code of conduct (46%). The results of this inquiry present a benchmark for the evaluation and development of both individual and international business codes. (shrink)

Understanding how the professional ideals and values of partners influence lawyers' everyday life is a relatively unexplored area given the inherent difficulties of gaining access to lawyers. This case study sheds light on the professional ideals and ethical values of partners and lawyers in a mid-tier Sydney law firm. Semi-structured interviews with partners and lawyers/legal clerks reveal how partners' professional ideals and ethical values play a pivotal role in: (1) upholding positive normative evaluations of lawyer/firm propriety (moral legitimacy), (2) stressing (...) the importance of a balanced working life (cognitive legitimacy) and (3) satisfying younger lawyers' needs for personal support, autonomy and responsibility (pragmatic legitimacy). The principled actions of partners are portrayed as the cornerstone of shaping a moral community in legal practise. (shrink)

Political theorists have recently sought to replace the liberal, contractual theory of the firm with a political view that models the authority relation of employee to firm, and its appropriate regulation, on that of subject to state. This view is liable to serious difficulties, however, given existing discontinuities between corporate and civil authority as to their coerciveness, entry and exit conditions, scope, legal standing, and efficiency constraints. I here inspect these, and argue that, albeit in some cases significant, such discontinuities (...) fail to undermine the firm/state analogy, either because they are not significant enough to do so or because the particular trait on which they hinge is not decisive for how authority, in the state and in the firm, should be regulated to be legitimate. A pro tanto requirement exists, I thus argue, that corporate authority be held to regulatory norms comparable to those legitimate states abide by, including civil liberties, rule-of-law constraints, and accountability to subjects. (shrink)

The desirability of creating norms within the framework of law has been a challenging process in a free market economy. The principles of antitrust law enunciated by courts in abuse of dominant cases has led to ‘refusal to deal’ as a contested doctrine. When dominance is treated as legitimate aspiration and free market choices are the medium to achieve the aspirations of free market enterprises, any duty or obligation cast on the firm is considered antithetical to the spirit of free (...) market unless it eclipses the anticompetitive effect. Where an economic analysis of antitrust law has non-economic impacts with ethical and moral issues, it calls for an alternative economic thought which also considers plural values of society. This also reflects a conflict arising out of lack of norms and respect for property rights. This paper attempts to analyze the cases and framework which is currently employed by the courts and the challenges it puts forth in creating a norm that is universal. The author by drawing on the principles of Gandhian economic thought and its essential features of trusteeship, non-possession and non-violence creates space for resolution of conflicts promoting ethical and moral considerations. Resolution of conflict through ethical and moral norms also assimilates the varied goals of antitrust regulation, including non-economic goals when the goals of antitrust require a broader consideration that accommodates the wider spectrum of market participants. (shrink)