Simple monetary rules: many strengths and few weaknesses

This paper endeavors to examine the basic idea in Richard Epstein’s book Simple Rules for a Complex World. It does so by considering a specific simple rule which was explicitly designed for complex world. A basic idea in Epstein’s book is that the more complex is the world the better is the case for simple rules. To show this, he develops six simple rules pertaining to the rights of individuals, first possession, contracts, torts, government eminent domain and the power of taxation to provide public goods. This paper considers one rule rather than six rules, and it looks at monetary policy rather than policy in general. While the context is different, the case for simple rules made here provides a useful comparison with the case made by Epstein.

     

Why are Second Chambers so Difficult to Reform?

The experiences of second chambers in Canada, Australia, Italy and Ireland suggest that second chamber reform faces a number of inherent problems. It must frequently negotiate exacting procedures for constitutional change, may be caught up in wider constitutional issues and often comes a long way down the list of a government's priorities: an ineffective second chamber, or one with low public legitimacy, can be of value to the government. In the UK the public commitment of the current Government, based on decades of Labour Party tradition, together with the absence of a written constitution, may increase the likelihood of these obstacles being overcome.     

Principles of state health reform: many states not willing to wait for federal reform

Despite the simplicity of the basic objectives of health care reform-- greater access at manageable cost, these goals have not yet been achieved at either the federal or state level. One explanation may be that the American people are not willing to make the sacrifices that are probably necessary to achieve universal access to health care: increased taxes or redirection of governmental expenditures, limitation of choice in providers, and perhaps some form of rationing (which in fact already exists, by limiting access of the uninsured and some of the poor). What, then, are the prospects for meaningful national health care reform in the near future? While the answer to this question remains unclear, there is no doubt that providers across the country are likely to face an unprecedented array of state health care initiatives over the next few years, whether or not federal legislation is enacted. To prepare for this upcoming legislative activity, providers must remain aware of state legislative activity as it evolves.     

Patent-based investment funds: from invention to innovation

In the context of entrepreneurial ecosystems the transformation of inventions to innovations is a crucial measure of success. Yet, the exploitation of inventions stemming from academic or corporate research is not as extensive as we would wish leaving room for improvements. Drawing on the knowledge spillover theory of entrepreneurship we investigate the phenomenon of patent-based investment funds as a new type of intermediary in the knowledge spillover process, which could facilitate the transformation from invention to innovation. Using a qualitative research design we analyze data from 21 expert interviews and complementary archival data. We find common characteristics of funds’ activities which decrease knowledge filters and fill the financing gap in the early stages of technology development. We propose a classification of commercialization strategies and link them to a specific set of invention characteristics. Our insights contribute to the knowledge spillover theory of entrepreneurship and to the knowledge filter model by providing empirical evidence for the division of labor between knowledge creator and commercialization agent. This adds to our view on entrepreneurial ecosystems as we shed light on different players in the transition process from invention to innovation and thus enhance our understanding of the multifaceted aspects in such an ecosystem. In addition, we refine the literature on patent-based investment funds by providing a classification of the entire commercialization spectrum used by funds and add to extant theorizing on how the nature of a technology determines its commercialization.

     

EEOC guidance on psychiatric disabilities: many problems, few workable solutions

The EEOC recently issued "Enforcement Guidance" on psychiatric disabilities under the Americans with Disabilities Act. Although the Guidance provides clarification of a few issues involving mental disabilities under the ADA, in most respects the Guidance is problematic. For example, the Guidance suggests that the inability to get along with a supervisor or coworkers may constitute a disability under the ADA, that an employer may have to "accommodate" a disabled employee's misconduct, that an employer cannot require an employee to follow doctor's orders as a condition of employment, and that an employer may be obligated to modify work rules and procedures to accommodate a mentally disabled employee but is prohibited from explaining to coworkers why it is making such modifications. As the EEOC's Guidance exceeds or conflicts with the ADA in some respects and is largely unworkable in many respects, it remains to be seen how many courts will actually follow it.     

Using market research to convert federal technology into marketable products

This paper discusses the need for a new market-research strategy to ensure timely applications of federally-developed technology in the private sector. It emphasizes the use of market research to facilitate the conversion of new technology into marketable new products and to guide decisions regarding future directions for technology research. Market research is a widely used source of information in the private sector, but historically it has been excluded from federal research programs.     

Hospital mergers: the shift from federal antitrust enforcement to state regulation

The authors examine and analyze the burgeoning merger activity in the hospital arena, as well as the nonfederal attempts made to regulate that activity. They conclude that the present, ad hoc, system of state regulation is sorely wanting and that it would be preferable if stronger antitrust enforcement and judical decisions prevented competition reducing mergers. If a merger results in a true monopoly (and nonetheless passes antitrust scrutiny), its regulation should be the responsibility of the pertinent state public utility board which, unlike the courts and state attorneys general, has sufficient expertise to adequately regulate the merged entities. Otherwise, the faults of the present system, which is easily manipulated by hospitals seeking political and legal cover for their activities, are likely to be perpetuated.     

杭州“豆腐渣”工程为何难定去留

一个明显存在质量缺陷的工程引发的诉讼，最终会在司法机关得到裁决，但不管结果如何，人的生命安全总得有人去负责。     

Medicaid program; allocation of enhanced federal matching funds for increased administrative costs resulting from welfare reform--HCFA. Notice with comment period

This notice with comment period announces the methodology used to determine the allocation, among the States and certain Territories, of a $500 million fund to assist them with the additional expenses attributable to eligibility determinations incurred as a result of the provisions of the Personal Responsibility and Work Opportunity Reconciliation Act of 1996, which decouples Medicaid eligibility from receipt of cash assistance for families and children. Also, it announces the actual allocation amount for each State and Territory. The special fund is available for matching a State's or Territory's allowable administrative expenditures incurred only during Federal fiscal years 1997 through 2000, and only during the first 12 calendar quarters in which the State's Temporary Assistance to Needy Families program, which replaced the Aid to Families with Dependent Children program, is in effect after August 21, 1996.     

Improving federal technology commercialization: Some recommendations from a field study

This study identified three distinct roles of the federal technology-transfer process in the Huntsville, Alabama region: sponsors, developers, and adopters. The basic structure of transfer barriers and measures during the prospecting and developing of the federal technology-transfer process is also discussed. Sponsors attributed transfer problems to adopters' lack of awareness, while developers cited long development and payback times. Adopters admitted their lack of transfer expertise and their resistance to technologies with long paybacks. None of the role-players were measuring technology transfer very well. While sponsors agreed with adopters that long-term outcome measures were important, sponsors relied on measures of input effort and intermediate results. Developers with the most transfer experience reported the lowest use of measures. Recommendations are made for each role to help improve federal technology transfer.     

Recovering from research: a no-fault proposal to compensate injured research participants

National advisory committees have considered the obligations owed to research participants in the event of research-related injuries. These committees have repeatedly concluded that injured research participants are entitled to compensation for their injuries, that the tort system provides inadequate remedies, and that the United States should adopt no-fault compensation. But because the advisory committees have made no concrete proposals and have taken no steps toward implementing no-fault compensation, the United States continues to rely on the tort system to compensate injured research participants. This Article argues that recent legal developments and a transformation in the global research landscape make maintaining the status quo morally indefensible and practically unsustainable. Recent legal developments exacerbate the longstanding difficulties associated with the tort system as a method of compensation; nearly every injured research participant will have difficulty recovering damages, and certain classes of injured research participants--those in federal research and those abroad--are prevented from recovering altogether, resulting in substantial unfairness. In the past ten years, many of the countries substantially involved in research have mandated systematic compensation. By not mandating compensation, the United States has become a moral outlier and risks having its noncompliant research embargoed by foreign ethics committees, thereby delaying important biomedical advances. This Article examines alternative compensation mechanisms and offers a concrete no-fault compensation proposal built on systems already in place. The proposed system can be implemented in the United States and countries around the world to help harmonize various national compensation systems and to more equitably and effectively make those injured by research whole.