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Why Working But Poor? The Need For Inclusive Capitalism, Robert Ashford
Why Working But Poor? The Need For Inclusive Capitalism, Robert Ashford
Akron Law Review
This Article addresses two questions: (1) What other solutions beyond those already tried can and should be employed to reduce poverty? and (2) What can legal scholars, lawyers, law schools, legal clinics, and law students do to reduce poverty? The answer to the first question is to establish an “inclusive capitalism” by democratizing “capital acquisition with the earnings of capital” based on the principles of binary economics. This democratization requires extending to poor and middleclass people competitive access to the same governmentsupported institutions of corporate finance, banking, insurance, reinsurance, and favorable tax and monetary policies that are presently available primarily …
Economic Ideology And The Rise Of The Firm As A Criminal Enterprise, William K. Black, June Carbone
Economic Ideology And The Rise Of The Firm As A Criminal Enterprise, William K. Black, June Carbone
Akron Law Review
Over the last 50 years, the institutions, ideology, nature, and power of firms in the United States have been radically transformed. Neoclassical economics has led that transformation, supplying an ideology that justified a dramatic increase in top executive compensation while dismantling the mechanisms that produced personal accountability tied to anything but relatively short term shifts in share prices. Yet, alongside the rise of the corporation, from the time of Adam Smith forward, has been concern that the separation of ownership and control creates opportunities to use the corporation as a “weapon” of fraud, and with the return of global financial …