^ In making this argument, this Article pushes back against a certain sort of formalism that has substantial currency not only among defenders of the Palsgraf perspective but also among philosophically and doctrinally oriented private law scholars more generally. But “formalism” is a multifarious word. There are other commitments sometimes described as “formalist” in nature — such as a normative commitment to bright-line rules over discretionary standards in adjudication — that this Article’s argument does not touch. For an illuminating discussion of formalism in contemporary private law scholarship, see generally Paul B. Miller, The New Formalism in Private Law, 66 Am. J. Juris. 175 (2021).
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“Looking ahead, if ‘low-hire, low-fire’ continues to characterize the labor market, the job‑change premium could compress further, limiting the extent to which workers can secure meaningful pay bumps by switching roles,” the report explains.