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🔗 Economics 🔗 Law

"The Nature of the Firm" (1937) is an article by Ronald Coase. It offered an economic explanation of why individuals choose to form partnerships, companies and other business entities rather than trading bilaterally through contracts on a market. The author was awarded the Nobel Memorial Prize in Economic Sciences in 1991 in part due to this paper. Despite the honor, the paper was written when Coase was an undergraduate and he described it later in life as "little more than an undergraduate essay."

The article argues that firms emerge because they are better equipped to deal with the transaction costs inherent in production and exchange than individuals are. Economists such as Oliver Williamson, Douglass North, Oliver Hart, Bengt Holmström, Arman Alchian and Harold Demsetz expanded on Coase's work on firms, transaction costs and contracts. Economists and political scientists have used insights from Coase's work to explain the functioning of organizations in general, not just firms. Coase's work strongly influenced the New Economics of Organization (New Institutional Economics).

Coase's article distinguished between markets as a coordination mechanism and firms as a coordination mechanism.

🔗 International relations 🔗 Mass surveillance 🔗 Internet 🔗 History 🔗 Computing 🔗 Internet culture 🔗 Economics 🔗 Law 🔗 Business 🔗 Politics 🔗 International relations/International law 🔗 Sociology 🔗 Futures studies 🔗 Capitalism 🔗 Globalization 🔗 Google

Surveillance capitalism has a number of meanings around the commodification of personal information. Since 2014, social psychologist Shoshana Zuboff has used and popularized the term.

🔗 United States/U.S. Government 🔗 Internet culture 🔗 Telecommunications 🔗 Law 🔗 Politics 🔗 Popular Culture 🔗 Donald Trump

The Communications Over Various Feeds Electronically for Engagement Act (COVFEFE Act) is a bill introduced into the United States House of Representatives in 2017 (on June 12), during the 115th United States Congress.

The bill would amend the Presidential Records Act to preserve Twitter posts and other social media interactions of the President of the United States, and to require the National Archives to store such items.

U.S. Representative Mike Quigley, Democrat of Illinois, introduced the legislation in the wake of Donald Trump's routine use of Twitter, stating "In order to maintain public trust in government, elected officials must answer for what they do and say; this includes 140-character tweets. If the president is going to take to social media to make sudden public policy proclamations, we must ensure that these statements are documented and preserved for future reference." If enacted, the bill "would bar the prolifically tweeting president from deleting his posts, as he has sometimes done."

If the bill were enacted, it would see US law treat US presidents' personal social media accounts (such as Trump's "@realDonaldTrump" Twitter account) the same as "official" social media accounts (such as the "@POTUS" Twitter account).

🔗 United States 🔗 Law 🔗 Freedom of speech 🔗 United States/Massachusetts - Boston

"Banned in Boston" was a phrase employed from the late 19th century through the mid-20th century, to describe a literary work, song, motion picture, or play which had been prohibited from distribution or exhibition in Boston, Massachusetts. During this period, Boston officials had wide authority to ban works featuring "objectionable" content, and often banned works with sexual content or foul language. This even extended to the $5 bill from the 1896 "Educational" series of banknotes featuring allegorical figures which were partially nude.

🔗 Soviet Union 🔗 Russia 🔗 Law 🔗 Politics 🔗 Cities 🔗 Russia/Russian, Soviet, and CIS military history 🔗 Russia/politics and law of Russia 🔗 Russia/human geography of Russia

A closed city or closed town is a settlement where travel or residency restrictions are applied so that specific authorization is required to visit or remain overnight. They may be sensitive military establishments or secret research installations that require much more space or freedom than is available in a conventional military base. There may also be a wider variety of permanent residents including close family members of workers or trusted traders who are not directly connected with its clandestine purposes.

Many closed cities existed in the Soviet Union until its collapse in 1991. After 1991, a number of them still existed in the CIS countries, especially Russia. In modern Russia, such places are officially known as "closed administrative-territorial formations" (закрытые административно-территориальные образования, zakrytye administrativno-territorial'nye obrazovaniya, or ЗАТО ZATO for short).

🔗 Internet 🔗 Computing 🔗 Law 🔗 Computing/Software 🔗 Computing/Websites 🔗 Computing/Networking

In computer networking, HTTP 451 Unavailable For Legal Reasons is an error status code of the HTTP protocol to be displayed when the user requests a resource which cannot be served for legal reasons, such as a web page censored by a government. The number 451 is a reference to Ray Bradbury's 1953 dystopian novel Fahrenheit 451, in which books are outlawed. 451 intends to provide more information than 403 Forbidden, which is often used for the same purpose. This status code is standardized in RFC 7725.

Examples of situations where an HTTP 451 error code could be displayed include web pages deemed a danger to national security, or web pages deemed to violate copyright, privacy, blasphemy laws, or any other law or court order.

The RFC is specific that a 451 response does not indicate whether the resource exists but requests for it have been blocked, if the resource has been removed for legal reasons and no longer exists, or even if the resource has never existed, but any discussion of its topic has been legally forbidden (see superinjunction). Some sites have previously returned HTTP 404 (Not Found) or similar if they are not legally permitted to disclose that the resource has been removed. Such a tactic is used in the United Kingdom by some internet service providers utilising the Internet Watch Foundation blacklist, returning a 404 message or another error message instead of showing a message indicating the site is blocked.

The status code was formally proposed in 2013 by Tim Bray, following earlier informal proposals by Chris Applegate in 2008 and Terence Eden in 2012. It was approved by the IESG on December 18, 2015. It was published as RFC 7725 in February 2016.

HTTP 451 was mentioned by the BBC's From Our Own Correspondent program, as an indication of the effects of sanctions on Sudan and the inability to access Airbnb, iOS's App Store, or other Western web services.

After introduction of the GDPR in European Economic Area (EEA) many websites located outside EEA started to serve HTTP 451 instead of trying to comply with this new privacy law.

🔗 United States 🔗 Law 🔗 Taxation

Taxation of illegal income in the United States arises from the provisions of the Internal Revenue Code (IRC), enacted by the U.S. Congress in part for the purpose of taxing net income. As such, a person's taxable income will generally be subject to the same Federal income tax rules, regardless of whether the income was obtained legally or illegally.

🔗 United States 🔗 Law 🔗 Marketing & Advertising

Leonard v. Pepsico, Inc., 88 F. Supp. 2d 116, (S.D.N.Y. 1999), aff'd 210 F.3d 88 (2d Cir. 2000), more widely known as the Pepsi Points case, is an American contract law case regarding offer and acceptance. The case was brought in the United States District Court for the Southern District of New York in 1999; its judgment was written by Kimba Wood.

In 1996, PepsiCo began a promotional loyalty program, in which customers could earn Pepsi Points; these points could, in turn, be traded for physical items. A television commercial for the loyalty program displayed the commercial's protagonist flying a McDonnell Douglas AV-8B Harrier II vertical take off jet aircraft to school, valued at $37.4 million at the time, which could be redeemed for 7,000,000 Pepsi Points. The plaintiff, John Leonard, discovered a loophole in the promotion, allowing him to purchase Pepsi Points at 10¢ per point. Leonard promptly delivered a check for $700,008.50 to PepsiCo, attempting to purchase the jet. PepsiCo initially refuted Leonard's offer, citing the humorous nature of the offer in the advertisement. Leonard then sued PepsiCo, Inc. in an effort to enforce the offer and acceptance perceived by Leonard to be made in the advertisement. In her judgment, Wood sided with PepsiCo, noting the frivolous and improbable nature of landing a fighter jet in a school zone that was portrayed by the protagonist. PepsiCo would re-release the advertisement, valuing the jet at 700,000,000 Pepsi Points.

🔗 Law

In legal parlance, a peppercorn is a metaphor for a very small cash payment or other nominal consideration, used to satisfy the requirements for the creation of a legal contract. It is featured in Chappell & Co Ltd v Nestle Co Ltd ([1960] AC 87), which stated that "a peppercorn does not cease to be good consideration if it is established that the promisee does not like pepper and will throw away the corn". However, the cited passage is mere dicta, and not the basis for the decision.

🔗 Iran 🔗 Ancient Near East 🔗 Law 🔗 Assyria 🔗 Politics 🔗 Iraq 🔗 Israel

The Code of Hammurabi is a well-preserved Babylonian code of law of ancient Mesopotamia, dated to about 1754 BC (Middle Chronology). It is one of the oldest deciphered writings of significant length in the world. The sixth Babylonian king, Hammurabi, enacted the code. A partial copy exists on a 2.25-metre-tall (7.5 ft) stone stele. It consists of 282 laws, with scaled punishments, adjusting "an eye for an eye, a tooth for a tooth" (lex talionis) as graded based on social stratification depending on social status and gender, of slave versus free, man versus woman.

Nearly half of the code deals with matters of contract, establishing the wages to be paid to an ox driver or a surgeon for example. Other provisions set the terms of a transaction, the liability of a builder for a house that collapses, or property that is damaged while left in the care of another. A third of the code addresses issues concerning household and family relationships such as inheritance, divorce, paternity, and reproductive behavior. Only one provision appears to impose obligations on a government official; this provision establishes that a judge who alters his decision after it is written down is to be fined and removed from the bench permanently. A few provisions address issues related to military service.

The code was discovered by modern archaeologists in 1901, and its editio princeps translation published in 1902 by Jean-Vincent Scheil. This nearly complete example of the code is carved into a diorite stele in the shape of a huge index finger, 2.25 m (7.4 ft) tall. The code is inscribed in the Akkadian language, using cuneiform script carved into the stele. The material was imported into Sumeria from Magan - today the area covered by the United Arab Emirates and Oman.

It is currently on display in the Louvre, with replicas in numerous institutions, including the Oriental Institute at the University of Chicago, the Northwestern Pritzker School of Law in Chicago, the Clendening History of Medicine Library & Museum at the University of Kansas Medical Center, the library of the Theological University of the Reformed Churches in the Netherlands, the Pergamon Museum of Berlin, the Arts Faculty of the University of Leuven in Belgium, the National Museum of Iran in Tehran, the Department of Anthropology, National Museum of Natural History, Smithsonian Institution, the University Museum at the University of Pennsylvania, the Pushkin State Museum of Fine Arts in Russia, the Prewitt-Allen Archaeological Museum at Corban University, Garrett-Evangelical Theological Seminary, and Museum of the Bible in Washington, DC.