Business Law, Public Responsibility, and Ethics Commons^™

Introduction, Marcy Murninghan

New England Journal of Public Policy

America faces a reckoning, a crucible of what Reinhold Niebuhr observed more than eighty years ago. Our democratic principles and traditions are imperiled by the power of financial oligarchs and unfettered money flows, which have contributed to massive inequality that, in turn, has given rise to political unrest and a sense of cultural unmooring.

The articles presented here are both descriptive and normative, setting forth a complex social problem with seemingly bottomless proportions and then offering a design or set of remedial actions to alleviate them. Drawing on my professional experience going back to the mid-1970s, I wrote these pieces …

Improving Impact: Collaborative Multi-Party, Multi-Sector Engagement (2011), Marcy Murninghan

New England Journal of Public Policy

Most people do not realize the full implications of the fact that we live now in an era marked more by networks than hierarchies. Nowadays, power is distributed across boundaries and borders, rather than concentrated in one place—be it a physical setting, demographic group, industrial sector, or professional discipline. Thanks to systems thinking and the ubiquity of digital tools and platforms, there are many more opportunities for lawmakers, policymakers, and economic institutions to collaborate with concerned citizens on critical public issues, thereby breaking the grip of lobbyists, third-party intermediaries, and the power elite. On top of that are recent breakthroughs …

A Framework For Good Ownership And Good Governance (1999), Marcy Murninghan

New England Journal of Public Policy

This article encapsulates a more extensive analysis that was commissioned by The Boston Foundation’s board of trustees in December 1998 to investigate its investment practices and identify ways in which its asset management decisions might be brought into fuller alignment with its charitable purpose—without conceding earnings or undermining its philanthropic fiduciary responsibility. The undertaking was spurred by the leadership of Robert A. Glassman, co-founder and co-chair of Wainwright Bank and a trustee of The Boston Foundation (TBF) since 1985, who took the reins from David Rockefeller Jr. in 1995 as chair of TBF’s investment committee. The research project built on …