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Of Bodies Politic And Pecuniary: A Brief History Of Corporate Purpose, David B. Guenther
Of Bodies Politic And Pecuniary: A Brief History Of Corporate Purpose, David B. Guenther
Law & Economics Working Papers
American corporate law has long drawn a bright line between for-profit and non-profit corporations. In recent years, hybrid or social enterprises have increasingly put this bright-line distinction to the test. This Article asks what we can learn about the purpose of the American business corporation by examining its history and development in the United States in its formative period from roughly 1780-1860. This brief history of corporate purpose suggests that the duty to maximize profits in the for-profit corporation is a relatively recent development. Historically, the American business corporation grew out of an earlier form of corporation that was neither …
Corporate Governance, Capital Markets, And Securities Law, Adam C. Pritchard
Corporate Governance, Capital Markets, And Securities Law, Adam C. Pritchard
Book Chapters
This chapter explores the dividing line between corporate governance and securities law from both historical and institutional perspectives. Section 2 examines the origins of the dividing line between securities law and corporate governance in the United States, as well as the efforts of the SEC to push against that boundary. That history sets the stage for section 3, which broadens the inquiry by examining the institutional connections between capital markets and corporate governance. Are there practical limits to the connection between securities law and corporate governance? The US again illustrates the point, as Congress has increasingly crossed the traditional boundary …
Case Of The Monopolies Some Of Its Results And Suggestions, Sydney T. Miller
Case Of The Monopolies Some Of Its Results And Suggestions, Sydney T. Miller
Michigan Law Review
Apparently the monopolistic idea is as old as the history of man. That great and good man, Job, may be counted as the earliest recorded "trust-buster," if we read between the lines of his story, and Solomon said, "He that withholdeth corn, the people shall curse him; but blessing shall be upon the head of him that selleth it." Doubtless, by exhaustive search, we could find some record of attempts to monopolize during each century from Biblical days to the time of printing, and as surely there must have been a countermovement. But not until the last five hundred years …