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Contract theory is a branch of law and economics that studies how economic actors construct contractual arrangements, especially in the presence of information asymmetry. It covers topics such as moral hazard, adverse selection, signalling, and optimal schemes of managerial compensation.
AP U.S. History (or APUSH) is a college-level course and exam that covers nine periods of U.S. history from pre-Columbian era to present day. Learn about the course framework, textbooks, exam format, scoring, and controversies of this Advanced Placement program.
The Lochner era was a period from 1897 to 1937 when the Supreme Court struck down many state and federal laws that regulated the economy based on its interpretation of substantive due process. The era is named after Lochner v. New York, a 1905 case that invalidated a maximum hours law, and ended with West Coast Hotel Co. v. Parrish in 1937.
A work of political philosophy by John Locke published anonymously in 1689, arguing for natural rights and social contract. The Second Treatise outlines Locke's ideas for a more civilized society based on natural rights and contract theory.
Learn about the concept of social contract, which is an idea that explains the legitimacy of the state and the rights of individuals. Explore the origins, variations and criticisms of social contract theory from ancient to modern times.
Following that was the transition from a property to a contract based society. After 1900, however, freedom of contract had had its heyday. Atiyah illustrates how the growth of consumer protection, rent and employment legislation has moved contract back into smaller confines, based on general notions of fairness.
Freedom of contract is the process in which individuals and groups form contracts without government restrictions. Learn about its history, legal implications, and criticisms in the US and the UK.
Learn about the course and exam offered by the College Board as part of the Advanced Placement Program. Find out the exam format, scoring, and topics covered in this study of rhetoric and writing.