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The Law and Political Economy Project

Taking Legislative Primacy Seriously

As we work toward a durable democratic future, a commitment to legislative primacy can serve as an orienting north star. Reaching that goal, however, will require using both legislative and executive tools, especially while we are working with an imperfect, hobbled, and significantly co-opted legislature.

Diversity as Value, Diversity as Risk

Corporate diversity practices, long celebrated for driving revenue growth and stabilizing stock prices, are now being targeted as liabilities by conservative shareholder activists, consumer boycotts, and litigation. This shift from rainbow capitalism to today’s anti-woke agenda reveals how diversity’s value in the marketplace has always been politically and legally constructed.

Banks Have Abandoned Their Public Purpose

At the core of the U.S. banking system is the public’s choice to delegate money-creation privileges to private actors. But what is the public getting in exchange? An ever-swelling suite of predatory credit products and few basic services. It’s time to reset the terms of the bargain.

The Student Loan Conjuncture

While student loan repayment has resumed, stability is an illusion. Beneath the surface, mounting delinquency, administrative chaos, and the potential dismantling of federal loan management point to a deeper crisis in the governance of higher education finance.

Guilt by Solidarity

The conviction of Anti-ICE protestors on terrorism charges represents a dangerous new front in the Trump administration’s war against the left. Yet it also highlights a longer history: over the past several decades, legislatures and courts have enacted a form of guilt by association that is antithetical to collective political action.

How Corporations Hijacked Identity Politics

Over the past fifty years, corporate advocates have co-opted the language and tactics of modern social movements to graft identity-based attributes onto the corporate entity. These new, personalized dimensions are deployed to weaken corporate regulations and, unlike more traditional forms of lobbying, endure beyond any single campaign. Taken together, they represent a reinvention of the modern corporation.

A Century of Colonial Tariffs

Waived overnight in response to a crisis for capital but maintained in the face of protest from former and current territories, the Jones Act has a colonial logic that is impossible to ignore. Yet recent constitutional challenges have done precisely that, refusing to acknowledge the Act’s imperial origins and on-going economic harms.

Landlord Distress Isn’t Our Fault, But It Is Our Problem

Unable to realize enough profit from their portfolios to repay their investors, landlords are turning the screws on tenants in the form of rising rents and declining conditions. Understanding this financial distress points us beyond questions of supply to a more nuanced analysis of the political economy of rental housing, revealing the market interventions needed to unlock tenant power.

Of LPE and Legislative Supremacy

Beau Baumann’s case for legislative supremacy offers a compelling vision for the left. However, branding it as a form of “constitutional politics” risks obscuring its deeper claim: that nothing, not even the Constitution, should stand above democratic lawmaking. His vision will also face significant opposition from liberals and progressives, many of whom remain tempted by courts and presidential power.

Weekly Roundup: March 20

Beau Baumann on the lost art of constitutional politics, Hal Singer on the market definition trap, and Ben Gerstein on the political economy of settler retrenchment. Plus, Alexander Hertel-Fernandez and Paul Sonn explain how cities and states can help boost funding for labor organizations, Samuel Bagg and Shai Agmon discuss the critical role of friction in market competition, Adelle Waldman and Matt Bruenig propose a right to full-time scheduling, Daniel Steinmetz-Jenkins interviews Sophia Rosenfeld about the rise of personal choice in the modern world, and Diana Reddy flips the script on a transaction cost-centric analysis of employment.