front cover of Collateral Knowledge
Collateral Knowledge
Legal Reasoning in the Global Financial Markets
Annelise Riles
University of Chicago Press, 2011

Who are the agents of financial regulation? Is good (or bad) financial governance merely the work of legislators and regulators? Here Annelise Riles argues that financial governance is made not just through top-down laws and policies but also through the daily use of mundane legal techniques such as collateral by a variety of secondary agents, from legal technicians and retail investors to financiers and academics and even computerized trading programs.    

            
Drawing upon her ten years of ethnographic fieldwork in the Japanese derivatives market, Riles explores the uses of collateral in the financial markets as a regulatory device for stabilizing market transactions. How collateral operates, Riles suggests, is paradigmatic of a class of low-profile, mundane, but indispensable activities and practices that are all too often ignored as we think about how markets should work and be governed.  Riles seeks to democratize our understanding of legal techniques, and demonstrate how these day-to-day private actions can be reformed to produce more effective forms of market regulation.

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front cover of An Introduction to Legal Reasoning
An Introduction to Legal Reasoning
Edward H. Levi
University of Chicago Press, 2013
Originally published in 1949, An Introduction to Legal Reasoning is widely acknowledged as a classic text. As its opening sentence states, “This is an attempt to describe generally the process of legal reasoning in the field of case law and in the interpretation of statutes and of the Constitution.” In elegant and lucid prose, Edward H. Levi does just that in a concise manner, providing an intellectual foundation for generations of students as well as general readers.

For this edition, the book includes a substantial new foreword by leading contemporary legal scholar Frederick Schauer that helpfully places this foundational book into its historical and legal contexts, explaining its continuing value and relevance to understanding the role of analogical reasoning in the law. This volume will continue to be of great value to students of logic, ethics, and political philosophy, as well as to members of the legal profession and everyone concerned with problems of government and jurisprudence.

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front cover of An Introduction to Legal Reasoning
An Introduction to Legal Reasoning
Edward H. Levi
University of Chicago Press, 1962
This volume will be of interest and value to students of logic, ethics, and political philosophy, as well as to members of the legal profession and to everyone concerned with problems of government and jurisprudence. By citing a large number of cases, the author makes his presentation of the processes of judicial interpretation particularly lucid.
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front cover of Thinking Like a Lawyer
Thinking Like a Lawyer
A New Introduction to Legal Reasoning
Frederick Schauer
Harvard University Press, 2009

This primer on legal reasoning is aimed at law students and upper-level undergraduates. But it is also an original exposition of basic legal concepts that scholars and lawyers will find stimulating. It covers such topics as rules, precedent, authority, analogical reasoning, the common law, statutory interpretation, legal realism, judicial opinions, legal facts, and burden of proof.

In addressing the question whether legal reasoning is distinctive, Frederick Schauer emphasizes the formality and rule-dependence of law. When taking the words of a statute seriously, when following a rule even when it does not produce the best result, when treating the fact of a past decision as a reason for making the same decision again, or when relying on authoritative sources, the law embodies values other than simply that of making the best decision for the particular occasion or dispute. In thus pursuing goals of stability, predictability, and constraint on the idiosyncrasies of individual decision-makers, the law employs forms of reasoning that may not be unique to it but are far more dominant in legal decision-making than elsewhere.

Schauer’s analysis of what makes legal reasoning special will be a valuable guide for students while also presenting a challenge to a wide range of current academic theories.

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