The Legal Environment of Business: Government Regulation and Public Policy Analysis

Politics & Social Sciences

Butler, Henry N.

Social Sciences

South-Western Pub.

The Corporation and the Constitution

Much of America's business is conducted through corporations, and corporate wealth is duly subject to governmental regulation. It follows that constitutional protection of corporations' business activities and ability to participate in political debate is crucial to American productivity. A problem arises, however, because the courts typically place a low value on the business activities of corporations. The authors seek to correct traditional misconceptions about the corporate form of enterprise. Legal and constitutional treatment of the corporation, they argue, is out of touch with economic and business reality. They articulate a contractual theory of the corporation that is based on the modern economics of the firm and then pragmatically apply this theory to the interpretation of constitutional doctrine. The Corporation and the Constitution is a significant contribution to modern constitutional and corporate scholarship. It offers a coherent theory of applying the Constitution to the corporation, and it forces scholars to appreciate the developments that have taken place totally outside the realm of traditional scholarly discourse on the Constitution. This shows that in formulating constitutional rules it is at least as important to understand the real-world context of particular problems to which the Constitution is applied as it is to develop a global framework of constitutional analysis.

Ribstein, Larry E.

Reference

UNKNO

The centralisation of environmental regulation has led to inflexibility on America's federal government as it attempts to respond to various problems. This analysis of current policies proposes a restructuring of the environmental regulatory authority to lead to better environmental enforcement.

Using Federalism to Improve Environmental Policy (Aei Studies in Regulation and Federalism)

MacEy, Jonathan R.

This book explores the effects of current regulatory policies and proposes a radical restructuring of the environmental regulatory authority.

Business & Money

Economics

AEI Press

The Sarbanes-Oxley Act of 2002 (SOX) is a colossal failure, poorly conceived and hastily enacted during a regulatory panic. Evidence suggests that the market has estimated that SOX will impose huge indirect costs on top of substantial direct costs. A largely overlooked concern is the act's potential to turn into a litigation time bomb: the first major market correction will likely become a feast for trial lawyers. SOX's defenders assert that the business world is better off now than before SOX, but the relevant question is whether it is better because of SOX. Existing institutions could have responded to any problems without a vast one-size-fits-all regulation from the federal government. SOX should be repealed, but failing that, there is some hope that a recent lawsuit could provide the leverage to enact at least some major changes. The economic costs of SOX could be greatly reduced by prohibiting private lawsuits based on SOX, exempting all but the largest domestic corporations and dual-listed securities of foreign corporations, and clarifying and reducing the requirements of SOX's controversial internal controls disclosure requirement. The post-SOX era offers opportunities to assess soberly what we have learned about policymaking from the SOX fiasco. There is much to be said for careful regulation that recognizes legislators' inherent limitations in reforming corporate governance. The Sarbanes-Oxley Debacle seeks to salvage some lessons from the ruins of SOX. The AEI Liability Studies examine aspects of the U.S. civil liability system central to the political debates over liability reform. The goal of the series is to contribute new empirical evidence and promising reform ideas that are commensurate to the seriousness of America's liability problems.

The Sarbanes Oxley Debacle: What We've Learned; How to Fix It (Aei Liability Studies)

Management & Leadership

Economic Analysis for Lawyers presumes no prior training in economics and uses the same building block approach that is found in most microeconomics principles textbooks that are used in undergraduate economics classes. This book includes excerpted cases and other materials that illustrates the applicability of the economic principles to legal disputes and public policy issues. Fundamental principles are introduced in the first four chapters. Subsequent chapters build on these fundamentals by adding a detailed and sophisticated analysis in the general areas of monopoly, externalities, information, labor markets, risk, organizational economics, and financial economics. The result is a thorough introduction to the principles of microeconomics.

Economic Analysis for Lawyers

Legal Education

Carolina Academic Pr

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Books by Butler, Henry N.