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Full-Text Articles in Law
Origins Of The Asymmetric Society: Freedom Of Incorporation In The Early United States And Canada, Jason Kaufman
Origins Of The Asymmetric Society: Freedom Of Incorporation In The Early United States And Canada, Jason Kaufman
Studio for Law and Culture
This article explores the origins of a phenomenon of lasting and profound impact on American society: the private business corporation. Business is only part of our concern here, however. Seen in comparative-historical terms, the modern private corporation was born in colonial (i.e. pre-Revolutionary) America. Surprisingly, this occurred not only because of the business needs of colonial Americans but also as a result of their own struggles for political autonomy. More specifically, the post-Revolutionary doctrine of freedom of incorporation first emerged in states that were originally chartered as private corporations. These “corporate colonies’” experienced repeated conflict with the Crown over their …
On Public Versus Private Provision Of Corporate Law, Gillian K. Hadfield, Eric L. Talley
On Public Versus Private Provision Of Corporate Law, Gillian K. Hadfield, Eric L. Talley
Faculty Scholarship
Law in modern market societies serves both democratic and economic functions. In its economic function, law is a service, a means of enhancing the value of transactions and organizations. Yet modern market economies continue to rely on the state, rather than the market, to provide this service. This paper investigates whether private provision of law may be superior to public provision. We look in particular at corporate law, where there is a substantial literature exploring the efficiency implications of "regulatory competition" and compare this competition with market competition between private providers. Drawing from the well-known framework of spatial models of …