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8 J. Small & Emerging Bus. L. [v] (2004)
Table of Contents - Issue 2

handle is hein.journals/jsebl8 and id is 5 raw text is: THE JOURNAL OF
Lewis & Clark Law School
VOLUME 8                    SummER 2004                    NuMBER 2
Recentralization: Community Economic Development and the Case
for Regionalism
Scott L.  Cum mings ..............................................  131
Community economic development's commitment to local empower-
ment reflects the broad movement against centralized political deci-
sion making apparent in American politics. Yet, while it has many
virtues, the empowerment orientation of community economic devel-
opment poses serious challenges to the goal of distributive justice. In
particular, by advancing an inward-focused notion of community that
largely ignores the macro-level political structures that shape neigh-
borhood development dynamics, community economic development
does not directly respond to the most significant barriers to greater
urban equality: government-sponsored jurisdictional divisions that
confine  poor communities within   municipalities that are
overburdened by social service demands and under-funded by tax rev-
enues. As an alternative to the dominant localist approach, this Article
suggests that distributive justice goals would be better served if com-
munity economic development policy and practice were informed by a
regionalism perspective. This Article sketches the outlines of what a
regionalism approach might look like, describing regional policy ini-
tiatives in the areas of affordable housing and economic development,
and offering examples of grassroots advocacy strategies that adopt a
regional focus. It concludes with a preliminary accounting of the chal-
lenges to community economic development presented by regional-
ism and offers some tentative responses
Community Economic Development: A Reflection on Community,
Power and the Law
M ichael D iamond  ...............................................  151
In this Article, Professor Diamond explores the nature of community.
He specifically examines the potential for economic development as a
means for achieving the growth of political power and institutions in
economically depressed neighborhood communities and the proper
role of the neighborhood attorney in facilitating this expansion.
Can a Sovereign Protect Investors From Itself? Tribal Institutions to
Spur Reservation Investment
David D. Haddock and Robert J Miller ............................  173
A bilateral danger of underperformance exists when two parties sink
investments with payoffs dependent on the behavior of the other.
There are five general categories of defense against that danger: (1)
Legal action against a misbehaving co-investor; (2) Reliance on a repu-
tation for non-opportunistic behavior; (3) Agreement by the party
with the less substantial reputation to modify the relative payouts, thus
paying the partner a risk premium; (4) Vertical integration that makes

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