universal legal principles, they led to socially undesirable, often unexpected results. He developed these arguments in a series of articles in the 1930s, which included: Affectation with a Public Interest (1930), The Ancient Maxim Caveat Emptor (1931), and The Path of Due Process of Law (1938).

Hamilton also undertook a series of industry studies that sought to show that wages and prices were not set by market forces as understood by neoclassical economists but instead depended on social and historical contexts, so that the results were