L11 Assignment 1. Using the analytical tools of his economic realism, how would Richard Posner argue that the majority opinion in Penn Central v. New York City makes sense? Why would Morris Cohen agree or disagree? An interesting and stark contrast exists in the economic realm, pivoting mainly on what people believe to be the most important factor to consider when making societal decisions. This is the recurring common dispute and internal conflict between whether one should focus more on the economic benefits to a single individual or on the benefits to the overall society. In regards to the majority opinion in the case of Penn Central v. New York City, it is clear to see that the overall ruling leaned in the opposite direction of economic realism, and rather strongly favored …show more content…
His stance is in opposition to the position of Richard Posner. And as we know, Richard Posner presents his overall disposition more so in the stance of economic liberalism. He has been very clear about his belief that the best economic decision is one in which the total earning capacity of the economy is maximized even when that earning capacity is mainly held by a single individual. Posner would have strongly argued against the ruling, claiming that an increase in overall profits due to the proposed structural changes of Penn Station would provide a longer-term and greater total benefit to the economy (Leiter 1). Expanding on the benefit of the economy, he suggests that the increase in total earning capacity of the individual owner of Penn station is a better economic investment than the retention of less profitable, albeit more historical, landmarks in the community (Leff, 1). However, in this case specifically, it is important to note that the court ruled
He agrees that privatization is sometimes necessary, but still isn’t a big fan. At first glance, his argument wasn’t very convincing. Most people assume that privatization is more efficient, it just makes more sense. However, he did make a good point when talking about railroads and efficiency. For a service to be classified as “ efficient”, it has to be a profitable venture, but for a public service like public transportation that is a not the case.
This view is consistent with the theories of David Mayhew (The Electoral Connection, 1974) who asserts that the desire for
If this proves correct I will then go into if his definition is relevant and needed today in America. In order to do this I will be providing counter arguments to his arguments throughout the book. To start off, the problem Robert
Convention holds that the best candidate for the people should win, but in the article written by Ellis Cose, it appears this election is more about fallacy rather than of policy. The name of the Ellis Cose article is what the revolution was for: The generations are at war in Newark’s mayoral race, as a civil-rights veteran fends off a beneficiary of the movement’s fruits. The main two figures of the article are two candidates named Cory Booker and Sharpe James, who are both running for the same mayor’s position of Newark. The essay serves to enlighten reads on the following about Cose’s article: what does it say, how does it say it, and what is the evidence.
Making New Middletown’s citizens make uninformed choices that can harmfully affect them. Therefore, as stated by Xavier, “we have to limit corporate liberties for our safety” (Austen, p. 89), because extreme social control is clearly harmful to New Middletown’s
Kaitlyn Johnson English, 008 September 29, 2015 Inequality Inequality has been a major problem all over the world. Not just with race or gender, but now ones' income puts them aside from others. and they are catorgarized. Gary S. Becker, a Noble laurete in economics, and Kevin M. Murphy, a professor at the University of Chicago and a recipient of a 2005 MacCrthur "genius" fellowship, believe that a higher education equals higher income. Paul Krugmam, a teacher of economics at Princeton and the city University of New York, uses people who have had an impact on America.
Rent Seeking by an American Economist In the American Economist Joseph Eugene Stiglitz’ essay, ‘Rent Seeking and the making of an Unequal Society,’ he argues, with the help of examples, that most of today’s economic and political problems are caused by the government. He goes in depth to explain why the government policies are a major factor in creating these problems, as well as the market forces itself. In addition to this, he discusses the relationship between income inequality and societal growth, and how rent seeking contributes to it. The following is main ideas from his essay that help to further prove his point of how rent seeking provides for income inequality, as well as how the government policies help in the making of an unequal society. Firstly, because the government policies shape the market forces, they are able to shape the degree of inequality.
Consequently, many rich Americans believed in this view, and used it as an explanation of why some are poor and some are rich. Additionally, a similar view is expressed in Progress & Poverty, written by J.M Dent. (Doc. 11). In Progress & Poverty, Dent explains that an uneven distribution of wealth will aid social progress, because it will drive people to work harder, which in almost all cases, never worked, and only caused social unrest and strikes. Conversely, some politicians fought for workers’ rights and developed legislation in response.
A popular case that has left its mark on the United States for years to come is Brown vs. Board of Education. Scott F. Johnson, a Professor at Concord Law School at Kaplan University states the court's decision as, “We conclude that in the field of public education the doctrine of "separate but equal" has no place. Separate educational facilities are inherently unequal. Therefore, we hold that the plaintiffs…are, by reason of the segregation complained of, deprived of the equal protection of the laws guaranteed by the 14th Amendment.” This is a very essential quote for this topic especially.
I discussed how neoliberalism caused a loss of the state revenue, how it weakened the regulation of labor, how it caused the discharging of employees and the decrease in wages. Another of neoliberalism negative effect is the increase of the price food products, oil, and fuel and other essential products. I also discussed peoples’ opinion regarding this issue and explained why I oppose their opinions. I gave evidence why I think my opinion is right. The world started changing when neoliberalism was adopted.
Grand industrial and economic growth, as well as personal opportunities for monetary success, were never higher than in the Gilded Age. The founding Industrial Fathers such as Andrew Carnegie, Henry Ford, J.P. Morgan, and Cornelius Vanderbilt, to name a few, were the pioneers of the Gilded Age and without them, the United States would not resemble even a fraction of what it does today. Without question, these men were the driving force behind the industrial boom, but the debate rages on as to whether these corporate magnates were sagacious business men seeking to debauch the United States for the procurement of monetary superiority or if they were a benevolent force seeking to bring America to the highest level of economic success ever seen
Before this case study, taxpayers funded grade school education, but it was never established that education was a right for Texas Citizens. Ultimately, the Texas Supreme Court ruled that funding individual public school districts by neighborhood property taxes was unequal, encouraging discrimination (MALDEF Lawsuit). The Texas Supreme Court ruled that funding for public school districts would be reformed a new system of funding public school education would be implemented (Acosta, 2010).
Miami and New York both are wonderful places to visit. New York, it is one of the most populated cities in the U.S for their large buildings and Miami is one of the state most popular vacation spots. Although there are several similarities between Miami and New York, there are many obvious differences between them in their economy, entertainment, and cultures. New York and Miami are well known for their economy. Living in Miami or New York is extremely luxurious.
The effectiveness of Chomsky’s argument is based upon his reasoning, explanation, use of historical documents and footage, and the tone development of the film. The film “Requiem for the American Dream,” is divided into 10 sub categories called principles, each supporting the claim that the concentration of wealth increases the concentration of power. Consequently, this results in an increase in the concentration of wealth, causing the process to start over again in a system
The Republican Theory Thus far we have been uncovering different views and perspectives of the universe within the sociological studies. These have included the Utilitarian Theory and the Liberal Theory of Justice. Now our readings have taken us beyond these theories, and has introduced us to an entire new principle, The Republican Theory. Although the theory itself has the same name as a political party within the United States, it should not be confused with the same beliefs of those in the Republican party.