Corporations and Democracy series

George Stigler and the Challenge of Democracy

We are all victims of what George Stigler described as “the pervasive use of state support of special groups” and of governance...

Holding Corporations and Executives Accountable Depends on Our Legal System

How can the law prevent and deter corporate wrongdoing? The answer might lie in identifying what factors are associated with greater wrongdoing...

Recovering from Kleptocracy: A 10-Step Program

In his book Ill Winds: Saving Democracy from Russian Rage, Chinese Ambition, and American Complacency, Larry Diamond highlights 10 steps to close existing loopholes...

Is Corporate Personhood to Blame for Money in Politics?

Just because corporations are “legal persons” doesn’t mean that they should get all of the same rights as human persons. Yet over...

How American Corporations Used Courts and the Constitution to Avoid Government Regulation

Since the early days of the Republic, corporations have turned the Constitution itself into a shield against unwanted regulation of the economy....

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Startup Acquisitions Have Undecided Effects on Innovation and Economic Growth

Startups are a major driver of innovation, but many startups are acquired by large incumbents. Do these acquisitions stifle innovation or promote...

History Shows that Voluntary ESG Standards Lead to a More Focused ESG Disclosure

In recent years, ESG reports have become more common for publicly traded companies. However, critics have found the information they provide to...

Letters that Matter: How Interest Groups Shape Financial Legislation

Members of Congress are inundated with an avalanche of correspondence on a daily basis. But what persuades them to heed the call?...

Are There Really Gender Pay Differences in the CEO Labor Market?

The gender pay gap is a well-documented phenomenon in global labor markets, but this gap does not seem to apply to the...

How Many Banks Are at Risk of Insolvency Right Now?

Given the recent banking turmoil and failure of SVB and Signature and issues in First Republic, it is important to understand the...