Mitchell declares that managers should be freed from the legal and structural constraints that make it difficult for them to exercise ordinary moral judgment and be held accountable for their actions. He demonstrates the extent to which contemporary corporate behavior represents a corruption of our cherished liberal values of personal freedom and individuality.
Reflecting recent re-examinations of the nature and purpose of the modern publicly held corporation, Progressive Corporate Law introduces the reader to alternative perspectives within the field. The contributors to this volume are loosely bound both by their rejection of the prevailing paradigm of the corporation as a public good designed exclusively for the maximization of private profit and by their affirmative goal of designing corporate laws that accord better with the corporation's political and social realities. The resulting series of visions emphasizes communitarian themes of efficiency and morality of responsibility, altruism, and unity within the corporate form as well as between the corporation and the broader society. Progressive Corporate Law is important reading for business executives, lawyers, policymakers, and others who are concerned with the role of corporations in modem life. Designed to act as a springboard for stimulating discussion, it will be a valuable supplement to courses and seminars in corporate law and business ethics.
American companies once focused exclusively on providing the best products and services. But today, most corporations are obsessed with maximizing their stock prices, resulting in short-term thinking and the kind of cook-the-books corruption seen in the Enron and WorldCom scandals. How did this happen? In this groundbreaking book, Lawrence E. Mitchell traces the origins of the problem to the first decade of the 20th century, when industrialists and bankers began merging existing companies into huge “combines”—today's giant corporations—so they could profit by manufacturing and selling stock in these new entities. He describes and analyzes the legal changes that made this possible, the federal regulatory efforts that missed the significance of this transforming development, and the changes in American society and culture that led more and more Americans to enter the market, turning from relatively safe bonds to riskier common stock in the hopes of becoming rich. Financiers and the corporations they controlled encouraged this trend, but as stock ownership expanded and businesses were increasingly forced to cater to stockholders' “get rich quick” expectations, a subtle but revolutionary shift in the nature of the American economy occurred: finance no longer served industry; instead, industry began to serve finance. The Speculation Economy analyzes the history behind the opening of this economic Pandora's box, the root cause of so many modern acts of corporate malfeasance.
Upon his retirement from active service as a Justice of the Supreme Court of Virginia in 2011, Justice Koontz had completed more than four decades of service to citizens of the Commonwealth of Virginia. In order to recognize that service and help preserve Justice Koontz legacy as one of the outstanding jurists in Virginia and the United States, the Salem/Roanoke County Bar Association instituted this project to collect all of Justice Koontz's published opinions, both from his tenure as a Justice of the Supreme Court and as an inaugural member of the Court of Appeals of Virginia. The fifth volume to be produced by the Opinions Project includes opinions, concurrences and dissents authored by Justice Koontz during the middle years of his service as a Justice of the Supreme Court of Virginia. It is dedicated to the honor of Harry Lee Carrico, the long-time Chief Justice of the Court who retired during the time of the reports contained in the volume.
What if the idealized image of American societya land of opportunity that will reward hard work with economic successis completely wrong? Few topics have as many myths, stereotypes, and misperceptions surrounding them as that of poverty in America. The poor have been badly misunderstood since the beginnings of the country, with the rhetoric only ratcheting up in recent times. Our current era of fake news, alternative facts, and media partisanship has led to a breeding ground for all types of myths and misinformation to gain traction and legitimacy. Poorly Understood is the first book to systematically address and confront many of the most widespread myths pertaining to poverty. Mark Robert Rank, Lawrence M. Eppard, and Heather E. Bullock powerfully demonstrate that the realities of poverty are much different than the myths; indeed in many ways they are more disturbing. The idealized image of American society is one of abundant opportunities, with hard work being rewarded by economic prosperity. But what if this picture is wrong? What if poverty is an experience that touches the majority of Americans? What if hard work does not necessarily lead to economic well-being? What if the reasons for poverty are largely beyond the control of individuals? And if all of the evidence necessary to disprove these myths has been readily available for years, why do they remain so stubbornly pervasive? These are much more disturbing realities to consider because they call into question the very core of America's identity. Armed with the latest research, Poorly Understood not only challenges the myths of poverty and inequality, but it explains why these myths continue to exist, providing an innovative blueprint for how the nation can move forward to effectively alleviate American poverty.
Warren Buffett and his company, Berkshire Hathaway, are legendary for their distinctive investing approach. Yet many equally unconventional but less well known aspects of Berkshire’s managerial practices and organizational structure are rich with lessons for those seeking to follow in Buffett’s footsteps. Margin of Trust is the first book to distill Buffett’s approach to management and corporate life. It provides a definitive analysis of the tenets of the Berkshire system, its costs and benefits, and how it can be adapted for other organizations. Lawrence A. Cunningham and Stephanie Cuba develop a new account of how Berkshire Hathaway works, showing that the key to its success is trust. Profiling partnership practices and business methods, they contend that Berkshire’s distinguishing feature is a culture in which autonomy and decentralization are core management principles. Cunningham and Cuba provide instructive examples of how this model has been successfully adapted by other companies that share a faith in trust as an organizing principle. They also offer candid commentary on the risks of a trust-based approach and how to mitigate them. Margin of Trust features illuminating analysis of Buffett’s take on the role trust plays in business agreements, what Buffett looks for in great corporate boards, and what lies ahead for Berkshire after its iconic leader leaves the scene.
In this timely work, Fuchs imagines a new paradigm of fatherhood for a post-patriarchal age, one inspired by the history of Jewish patriarchy. Fuchs argues that the Jewish story sets the precedent for change in the nature of patriarchy today, breaking the evolutionary connection between male dominance and incentives for fatherhood.
Mitchell declares that managers should be freed from the legal and structural constraints that make it difficult for them to exercise ordinary moral judgment and be held accountable for their actions. He demonstrates the extent to which contemporary corporate behavior represents a corruption of our cherished liberal values of personal freedom and individuality.
An analysis of “the Trump era, but not about Trump. . . . but on how incentives across a range of institutions have created corruption” (New York Times Book Review). “There is not a single American awake to the world who is comfortable with the way things are.” So begins Lawrence Lessig's sweeping indictment of modern-day American institutions and the corruption that besets them—from the selling of Congress to special interests to the corporate capture of the academy. And it’s our fault. What Lessig brilliantly shows is that we can’t blame the problems of contemporary American life on bad people, as our discourse all too often tends to do. Rather, he explains, “We have allowed core institutions of America’s economic, social, and political life to become corrupted. Not by evil souls, but by good souls. Not through crime, but through compromise.” Through case studies of Congress, finance, the academy, the media, and the law, Lessig shows how institutions are drawn away from higher purposes and toward money, power, quick rewards—the first steps to corruption. Lessig knows that a charge so broad should not be levied lightly, and that our instinct will be to resist it. So he brings copious detail gleaned from years of research, building a case that is all but incontrovertible: America is on the wrong path. If we don’t acknowledge our own part in that, and act now to change it, we will hand our children a less perfect union than we were given. It will be a long struggle. This book represents the first steps. “A devastating argument that America is racing for the cliff's edge of structural, possibly irreversible tyranny.” —Cory Doctorow
First published in 1949, Frank Lawrence Owsley’s Plain Folk of the Old South refuted the popular myth that the antebellum South contained only three classes—planters, poor whites, and slaves. Owsley draws on a wide range of source materials—firsthand accounts such as diaries and the published observations of travelers and journalists; church records; and county records, including wills, deeds, tax lists, and grand-jury reports—to accurately reconstruct the prewar South’s large and significant “yeoman farmer” middle class. He follows the history of this group, beginning with their migration from the Atlantic states into the frontier South, charts their property holdings and economic standing, and tells of the rich texture of their lives: the singing schools and corn shuckings, their courtship rituals and revival meetings, barn raisings and logrollings, and contests of marksmanship and horsemanship such as “snuffing the candle,” “driving the nail,” and the “gander pull.” A new introduction by John B. Boles explains why this book remains the starting point today for the study of society in the Old South.
Between September 1941 and May 1944, the Germans sent sixty-two U-boats into the Mediterranean. To get there, the boats had to pass through the Strait of Gibraltar?the British-held entry point, where nearly a third of them were sunk or forced to turn back. Of the submarines that made it into the clear, calm waters of the Mediterranean, not one of them ever made it back into the Atlantic: They were all either sunk in battle or scuttled by their own crews. In U-Boats in the Mediterranean, Lawrence Paterson puts the campaign into its strategic context, showing how it coordinated with Rommel's Afrika Korps in the Western Desert and the U-boat battle in the Atlantic. He describes the weapons and tactics the commanders used to try to overcome the difficulties of operating in the shallow waters and and how increasing Allied dominance of the air took its heavy toll. Paterson details the U-boat triumphs such as the sinking of HMS Ark Royal, and the torpedoing of the battleship HMS Barham, which provided one of the best-known images of the Second World War at sea. Making full use of firsthand accounts by veterans, official German records, and Allied archives, the book puts a spotlight on a neglected aspect of the U-boat war and shows the courage and fortitude of the men on both sides of this savage conflict.
One of the largest cotton planters in the United States, Oscar G. Johnston of Mississippi (1880-1955) became King Cotton's most effective advocate during the New Deal era. Nelson explores Johnston's long career and the critical role he played in shaping public policy toward a vital but depressed industry". -- Jacket.
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