Open Access. Powered by Scholars. Published by Universities.®
- Discipline
- Institution
Articles 1 - 6 of 6
Full-Text Articles in Entire DC Network
Perpetual Motion Machines: Esops Don’T Pay For Themselves, Andrew Stumpff Morrison
Perpetual Motion Machines: Esops Don’T Pay For Themselves, Andrew Stumpff Morrison
Law & Economics Working Papers
In this article, Stumpff addresses policy issues regarding employee stock ownership plans and demonstrates how some claims in support of ESOPS aren’t supported by the math.
Binary Economics And The Case For Broader Ownership, Robert Ashford
Binary Economics And The Case For Broader Ownership, Robert Ashford
College of Law - Faculty Scholarship
Binary economics simultaneously offers a paradigm for understanding economic efficiency, growth, and justice that is foundationally distinct from classical, neoclassical, Keynesian, and socialist economics. First proposed by Louis Kelso, binary economics also offers a prescription for establishing a more inclusive, competitive and democratic private property system, one that universalizes the right to acquire capital with the earnings of capital. Focusing on an important anomaly left unexplained or poorly explained classical, neoclassical, and Keynesian economics (i.e., the persistence of unutilized productive capacity in a context in which markets are supposedly becoming more efficient) and left unremedied by any approach yet applied, …
Binary Economics: The Economic Theory That Gave Rise To Esops, Robert Ashford
Binary Economics: The Economic Theory That Gave Rise To Esops, Robert Ashford
College of Law - Faculty Scholarship
Many people know about Employee Stock Ownership Plans (ESOPs) which, along with profit-sharing and pension plans, are treated as deferred compensation plans under Section 401 and related sections of the Internal Revenue Code. ESOPs have been established by thousands of American corporations, including some of the largest, and cover millions of employees. There is a national trade association (The ESOP Association), that is now celebrating its 50th year in existence, and other organizations established to support employee ownership, including the Ohio Center for Employee Ownership that first published this article in its publication entitled Owners At Work (2006/2007) Most people …
Why (Only) Esops?, Robert C. Hockett
Why (Only) Esops?, Robert C. Hockett
Cornell Law Faculty Publications
No abstract provided.
Capital Democratization, Robert Ashford
Capital Democratization, Robert Ashford
College of Law - Faculty Scholarship
Although, the ideas underlying binary economics were first published in 1958 (Kelso and Adler), the many books and papers that discuss the subject, with the exception of Kane (2000) and Kurland (2001), do not utilize conventional economics language. To facilitate the teaching of binary economics in beginning and intermediate college courses in economics and business, the paper explains some major microeconomic and macroeconomic fundamentals of binary economics by utilizing conventional neo-classical economic models. It then compares the theoretical results reached in a non-binary economic environment to those that may be reached in a binary one. The most important result from …
Pensions And Passivity, Gregory S. Alexander
Pensions And Passivity, Gregory S. Alexander
Cornell Law Faculty Publications
This article discusses how modem fiduciary law has extended equity's tradition of constructing ownership as passive through the corporate pension system. It examines how the corporate pension system as a mode of owning pooled capital is a new stage of passive ownership. This stage creates a different aspect of the familiar problem of separating control from beneficial ownership. Berle and Means argued that the problem that the separation of control from ownership created was economic. The interests of managers and shareholders in the modern corporation diverge, and, they argued, this divergence diminishes the overall efficiency of the modern economy, dominated …