Over the past fifteen years, there has been a growing interest in altering legal rules to redistribute wealth, with many scholars believing that neoclassical economic theory is biased against redistribution. Yet a growing number of progressive scholars are pushing back against this view. Toward an Inframarginal Revolution offers a fresh perspective on the redistribution of wealth by legal scholars who argue that the neoclassical concept of the gains from trade provides broad latitude for redistribution that will not harm efficiency. They show how policymakers can redistribute wealth via taxation, price regulation, antitrust, consumer law, and contract law by focusing on the prices at which inframarginal units of production change hands. Progressive and eye-opening, this volume uses conservative economic concepts to make a compelling case for radically redistributing wealth. This title is part of the Flip it Open Programme and may also be available open access. Check our website Cambridge Core for details.
This book makes the case that radical wealth redistribution can be carried out without preventing consumers from buying the products they wish to buy or otherwise reducing the efficiency of the economy. It is ideal for lawyers, economists, and other readers looking to intervene in the market to redistribute wealth.
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This volume shows how the conservative economic concept of the gains from trade justifies intervention in markets to redistribute wealth.
1. Introduction to inframarginalism and this volume Ramsi A. Woodcock;
2. A new corporate tax Reuven S. Avi-Yonah;
3. The progressive case against antimonopolism Ramsi A. Woodcock;
4. An inframarginalist argument for mandating the use of pro-consumer boilerplate Michael D. Guttentag;
5. Inframarginalism and the distributive corollary of the coase theorem Matthew Dimick;
6. Distributive consequences of regulating boilerplate: between price effects and socialization of risk Przemyslaw Palka;
7. (How) Does competition law address quality? Adrian Kuenzler;
8. Self-Colonization in American law: the internet and personal information example Daniel H.J. Greenwood;
9. Taxing imputed land rent: a historical perspective and a (modest) contemporary proposal Faisal Chaudhry;
10. A Neo-Kantian approach to competition law? the re-emergence of fairness in antitrust law & policy Behrang Kianzad;
11. Is commodity private property inherently regressive? Zvikomborero Chadambuka;
12. The EU regulatory patchwork for dark patterns: an illustration of an inframarginal revolution in European law? Inge Graef;
13. Inframarginalism & economism Vijay Raghavan;
14. Hipster antiplagiarism Brian L. Frye; Index.
Ramsi A. Woodcock is the Wyatt, Tarrant & Combs Associate Professor of Law at the University of Kentucky Rosenberg College of Law with secondary appointment in the Gatton College of Business & Economics. He is best known for his paper The Obsolescence of Advertising in the Information Age, 127 Yale L. J. 2270, which calls for a general ban on commercial advertising. He has also argued that firms that employ algorithmic pricing should be required to use the algorithms to personalize high prices to the rich and low prices to the poor.
