C. Scott Pryor
The issue's fourth article, The Missing Piece of the Puzzle:
Perspectives on the Wage Priority in Bankruptcy, is written by
Professor C. Scott Pryor. The article begins by reviewing the
legal history of the wage priority in bankruptcy as well as the
recent Supreme Court decision in Howard Delivery Service, Inc. v.
Zurich Am. Ins. Co. Next, three viewpoints on the rationale
of the wage priority are explored: the market failure, the
rationale autonomy, and the normative points of view. The
author then argues that the influence of religion and politics on
public morality had a considerable impact on the development of the
wage priority. Finally, the author concludes that the
resilience of the wage priority provides an implied example of
religious ideas being, to some extent, converted into generally
accepted social policies.