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Articles 361 - 390 of 414
Full-Text Articles in Economic History
In The Aftermath Of The Financial Crisis Of 2008: What Have We Learned?, Luisa Blanco, Michael Crouch
In The Aftermath Of The Financial Crisis Of 2008: What Have We Learned?, Luisa Blanco, Michael Crouch
School of Public Policy Working Papers
In the aftermath of the financial crisis and economic recession of 2008, it is important to reflect not only on its causes, but also on specific policies that can help countries to move towards sustained economic growth. This publication provides a compendium of lectures that intend to do this. The focus of the discussion is around the U.S. (first two chapters) and Latin America (last chapter), which enhances our understanding of the forces at play and the necessary policies that need to be implemented in different regions of the world. Dr. Lee Ohanian points to the strange differences between the …
Preservation Ethics In The Case Of Nebraska's Nationally Registered Historic Properties, Darren Michael Adams
Preservation Ethics In The Case Of Nebraska's Nationally Registered Historic Properties, Darren Michael Adams
Department of Geography: Dissertations, Theses, and Student Research
This dissertation focuses on the National Register of Historic Places and considers the geographical implications of valuing particular historic sites over others. Certain historical sites will either gain or lose desirability from one era to the next, this dissertation identifies and explains three unique preservation ethical eras, and it maps the sites which were selected during those eras. These eras are the Settlement Era (1966–1975), the Commercial Architecture Era (1976–1991), and the Progressive Planning Era (1992–2010). The findings show that transformations in the program included an early phase when state authorities listed historical resources pertaining to the settlement of the …
Mountain Monitor-4th Quarter 2009, Mark Muro, Jonathan Rothwell
Mountain Monitor-4th Quarter 2009, Mark Muro, Jonathan Rothwell
Mountain Monitor Quarterly
The Mountain West’s recovery from the Great Recession is spreading. Output is growing in every metropolitan area. Still, hiring remains elusive—a fact frustrating the entire nation, but perhaps more so in a region used to snapping, even roaring, back from recessions faster than the rest of the nation. Drawing on data covering the fourth quarter of 2009 (ending in December), this new Mountain Monitor—a companion product to Brookings’ national MetroMonitor and a quarterly resource produced by Brookings Mountain West, a partnership between Brookings and the University of Nevada at Las Vegas—surveys a region that is at once recovering and still …
See No Evil? Revisiting Early Visions Of The Social Responsibility Of Business: Adolf A. Berle’S Contribution To Contemporary Conversations, Erika George
Seattle University Law Review
Much corporate legal scholarship considers such fact patterns as beyond the scope of the discipline’s core concerns. Yet, increasingly, questions are asked concerning the scale and scope of modern corporate power. This Article will challenge the conventional understanding of what the core discipline of corporate law should encompass and argues that the failure to focus on precisely these sorts of factual scenarios involving allegations of corporate complicity in human rights violations and environmental degradation is misguided and short-sighted.
Neo-Brandeisianism And The New Deal: Adolf A. Berle, Jr., William O. Douglas, And The Problem Of Corporate Finance In The 1930s, Jessica Wang
Seattle University Law Review
This essay revisits Adolf A. Berle, Jr. and The Modern Corporation and Private Property by focusing on the triangle of Berle, Louis D. Brandeis, and William O. Douglas in order to examine some of the underlying assumptions about law, economics, and the nature of modern society behind securities regulation and corporate finance in the 1930s. I explore Douglas and Berle’s academic and political relationship, the conceptual underpinnings of Brandeis, Berle, and Douglas’s critiques of modern finance, and the ways in which the two younger men—Berle and Douglas—ultimately departed from their role model, Brandeis.
Foreword: In Berle’S Footsteps, Charles R.T. O'Kelley
Foreword: In Berle’S Footsteps, Charles R.T. O'Kelley
Seattle University Law Review
On the weekend of November 6–8, 2009, scholars from around the world gathered in Seattle for a symposium—In Berle’s Footsteps—celebrating the launch of the Adolf A. Berle, Jr. Center on Corporations, Law and Society. As founding director of the Berle Center, I described our undertaking: “It is with a profound sense of obligation to the legacy that has been entrusted to my care, that I announce the launching of the Adolf A. Berle, Jr. Center on Corporations, Law and Society. It is a privilege to follow in Berle’s footsteps.”
Opening Remarks, Chancellor William B. Chandler Iii
Opening Remarks, Chancellor William B. Chandler Iii
Seattle University Law Review
Law is, in many ways, a backwards-looking field. We litigate over facts that have already occurred, challenge deals that have already been signed, and apply rules of decision based on previously-established precedent or statutes already enacted. To the extent that this Center and the symposium reflect on Berle’s work, they too are an exercise in looking back. Indeed, some might say the establishment of a Center named in Berle’s honor is a monument to the past.
Revisiting Berle And Rethinking The Corporate Structure, Kelli A. Alces
Revisiting Berle And Rethinking The Corporate Structure, Kelli A. Alces
Seattle University Law Review
Adolf Berle and Gardiner Means painted what remains a defining portrait of corporate law. The separation of ownership and control they described and the agency costs it causes are still a central concern of the law of corporate governance. For that reason, Berle’s work is relevant nearly eighty years after its publication. Seemingly forgotten, however, is that Berle’s enduring description of the corporate structure was published before most of today’s corporate law was in place. His work preceded the Securities Act of 1933 and the Securities Exchange Act of 1934 and even preceded the dominance of Delaware common law in …
Power Without Property, Still: Unger, Berle, And The Derivatives Revolution, Cristie Ford, Carol Liao
Power Without Property, Still: Unger, Berle, And The Derivatives Revolution, Cristie Ford, Carol Liao
Seattle University Law Review
We are in a time when the notion of property is in flux. The derivatives revolution has shattered the “atom of property” well beyond what was originally imagined in 1932 by Adolf Berle and Gardiner Means. This disaggregation has had fascinating, and often adverse, effects on corporate law and securities regulation. Moreover, the phenomenon has had the unexpected effect of permitting some parties that already possess considerable social, economic, and political power to accumulate even more.
The New Financial Assets: Separating Ownership From Control, Tamar Frankel
The New Financial Assets: Separating Ownership From Control, Tamar Frankel
Seattle University Law Review
In The Modern Corporation and Private Property, Adolf A. Berle and Gardiner Means wrote about the separation of ownership from control in corporations. They noted that the interests of the controlling directors and managers can diverge from those of the shareholder owners of the firm. . . . There are those who consider such a decoupling beneficial. Others express the same concern that Berle and Means have expressed. And depending on what one focuses on in viewing the pluses and minuses of these separations, one could reach different conclusions. I reach a number of conclusions. First, the separation of …
Then And Now: Professor Berle And The Unpredictable Shareholder, Jennifer G. Hill
Then And Now: Professor Berle And The Unpredictable Shareholder, Jennifer G. Hill
Seattle University Law Review
Shareholders, and the relationship between shareholders and management, lay at the heart of Professor Berle’s scholarship. The goal of this Article is to compare the image of shareholders emerging from The Modern Corporation and Private Property and the Berle/Dodd debate with a range of contemporary visions of the shareholder that underpin some international regulatory responses to recent financial debacles, from Enron to the current global financial crisis. As the Article dis- cusses, these recent developments in the era of financial crises have prompted a reevaluation of the traditional image of the shareholder—and the role of the shareholder in the modern …
Berle And The Entrepreneur, Charles R.T. O'Kelley
Berle And The Entrepreneur, Charles R.T. O'Kelley
Seattle University Law Review
In the first and last four chapters (“the Five Chapters”) of The Modern Corporation and Private Property, Adolf Berle, Jr. describes in sweeping terms a fundamental transformation of the American economy. . . . Writing more than ten years before Berle, another seminal scholar, Frank Knight . . . developed a theory of the entrepreneur as part of his larger effort to more carefully explain the theoretical underpinnings of a free-market economy. . . . Given Knight’s prominence and the fact that Knight apparently reached dramatically different conclusions than did Berle concerning the consequences flowing from separation of ownership …
The Birth Of Corporate Governance, Harwell Wells
The Birth Of Corporate Governance, Harwell Wells
Seattle University Law Review
Part I of this Article briefly examines the concept of “corporate governance” and argues for dating the concept’s origins to the debates of the 1920s. Part II then moves on to examine early scholarly and popular discussions of the separation of ownership and control. After surveying the historical developments that produced the recognizably modern corporate economy around the turn of the century, it examines early scholarly and popular discussions of the separation of ownership and control, focusing on three major thinkers, Louis D. Brandeis, Walter Lippmann, and Thorstein Veblen. It argues that, while each of these authors examined the separation …
Monitoring To Reduce Agency Costs: Examining The Behavior Of Independent And Non-Independent Boards, Anita Anand, Frank Milne, Lynnette Purda
Monitoring To Reduce Agency Costs: Examining The Behavior Of Independent And Non-Independent Boards, Anita Anand, Frank Milne, Lynnette Purda
Seattle University Law Review
Berle and Means’s analysis of the corporation—in particular, their view that those in control are not the owners of the corporation—raises questions about actions that corporations take to counter concerns regarding management’s influence. What mechanisms, if any, do corporations implement to balance the distribution of power in the corporation? To address this question, we analyze boards of directors’ propensity to voluntarily adopt recommended corporate governance practices. Because board independence is one way to enhance shareholders’ ability to monitor management, we probe whether firms with independent boards of directors (which we define as boards with either an independent chair or a …
Securities Intermediaries And The Separation Of Ownership From Control, Jill E. Fisch
Securities Intermediaries And The Separation Of Ownership From Control, Jill E. Fisch
Seattle University Law Review
The Modern Corporation & Private Property is a paradigm-shifting analysis of the modern corporation. The book is perhaps best known for the insights of Berle and Means about the separation of ownership from control and the consequences of that separation for the allocation of power within the corporation. The Berle and Means story focuses on the shareholder as the owner of the corporation. Berle and Means saw the mechanism of centralized management—in which the shareholder retains the economic interest but not the control rights associated with ownership—as threatening the conception of shareholder interests in terms of property rights. In particular, …
The Modern Corporation As Social Construction, Mark S. Mizruchi, Daniel Hirschman
The Modern Corporation As Social Construction, Mark S. Mizruchi, Daniel Hirschman
Seattle University Law Review
Classic works, Mark Mizruchi and Lisa Fein argued, share a particular fate. Authors often cite classic works without reading them—or without reading them carefully. . . . Yet perhaps no single work fits the above description better than one of the most important books on the large corporation ever published: Adolf Berle and Gardiner Means’s The Modern Corporation and Private Property. One can speculate that few works in the social sciences have been as often cited and as little read. As a consequence, we would expect The Modern Corporation to be a good candidate for either selective interpretation or …
Tribal Gaming And The Political Contributions Strategies Of Native American Tribes In Minnesota, Thomas Sorenson
Tribal Gaming And The Political Contributions Strategies Of Native American Tribes In Minnesota, Thomas Sorenson
Political Science Theses and Capstones
The Indian Gaming Regulatory Act has made a big impact on tribal-state relations since it was enacted in 1988 by the federal government. Tribes have started to make campaign contributions to state and federal politicians to help try to mold lawmakers to vote for Tribal interests. My research looks at Minnesota tribes and their campaign contributions to House members during the 2005 election, and whether these lawmakers voted for tribal issues during their term. For control variables I also gathered a variety of information related to legislative districts. What my analysis has shown is that the tribes in Minnesota donate …
Corporate Power In The Public Eye: Reassessing The Implications Of Berle’S Public Consensus Theory, Marc T. Moore, Antoine Rebérioux
Corporate Power In The Public Eye: Reassessing The Implications Of Berle’S Public Consensus Theory, Marc T. Moore, Antoine Rebérioux
Seattle University Law Review
We analyze Berle’s overall corporate governance project in accordance with what we see as its four core sub-themes: (A) the limitations of external market forces as a constraint on managerial decision-making power; (B) the desirability of internal (corporate) over external (market) actors in allocating corporate capital; (C) civil society and the public consensus as a continuous informal check on managerial decision-making power; and (D) shareholder democracy (as opposed to shareholder primacy or shareholder wealth maximization) as a socially instrumental institution. We seek to debunk the popular misconception that Berle’s early work was a defense of the orthodox shareholder primacy paradigm …
Tracking Berle’S Footsteps: The Trail Of The Modern Corporation’S Last Chapter, William W. Bratton, Michael L. Wachter
Tracking Berle’S Footsteps: The Trail Of The Modern Corporation’S Last Chapter, William W. Bratton, Michael L. Wachter
Seattle University Law Review
Readers game enough to work through all three hundred pages of The Modern Corporation and Private Property looking for insights on corporate law today encounter two, apparently contradictory, lines of thought. One line, set out in Books II and III, resonates comfortably with today’s shareholder-centered corporate legal theory. Here the book teaches that even as ownership and control have separated, managers should function as trustees for the shareholders and so should exercise their wide-ranging powers for the shareholders’ benefit. The other line of thought emerges in Books I and IV, where The Modern Corporation encases this shareholder trust model in …
Rethinking The Separation Of Ownership From Management In American History, Kenneth Lipartito, Yumiko Morii
Rethinking The Separation Of Ownership From Management In American History, Kenneth Lipartito, Yumiko Morii
Seattle University Law Review
In <em>The Modern Corporation and Private Property</em>, Adolf Berle and Gardiner Means would use AT&T as a prime example of what they saw as a dangerous new trend, the replacement of ownership-based capitalism with giant corporations controlled by a small group of propertyless managers. Indeed, AT&T became Berle and Means’ favorite example. . . . As we shall see, however, the claim that AT&T was a leading example of the separation of ownership from management is incomplete. More importantly, the common interpretation of Berle and Means’ work is mistaken, placing the emphasis incorrectly on the number of shareholders and reading …
Berle’S Vision Beyond Shareholder Interests: Why Investment Bankers Should Have (Some) Personal Liability, Claire Hill, Richard Painter
Berle’S Vision Beyond Shareholder Interests: Why Investment Bankers Should Have (Some) Personal Liability, Claire Hill, Richard Painter
Seattle University Law Review
This essay, published in a symposium on the work of Adolf Berle, approaches the Berle-Dodd debate from the perspective that corporate managers have responsibilities beyond pursuing the interests of shareholders. Stock based executive compensation, designed to align managers’ interests with those of shareholders, has, in the investment banking industry in particular, failed to avert, and may have caused, managers (in this case, bankers) to take excessive risks that in the present financial crisis inflicted great damage on creditors and on society as a whole. We describe here the broad outlines of a proposal that we will discuss in future publications …
Enumerating Old Themes? Berle’S Concept Of Ownership And The Historical Development Of English Company Law In Context, Lorraine E. Talbot
Enumerating Old Themes? Berle’S Concept Of Ownership And The Historical Development Of English Company Law In Context, Lorraine E. Talbot
Seattle University Law Review
This paper offers some tentative suggestions as to why Berle’s work has been read and interpreted so selectively in the United Kingdom. I suggest that this must be partly attributable to the historical developments in English company law that entrenched the notion of shareholder ownership claims. Specifically, unincorporated associations’ normative values—that members are owners and there is no distinction between small organizations with no share dispersal and large organizations with wide share dispersal—have a continuing influence on this entrenched notion of shareholder ownership claims. First, I provide an overview of the origins of English company law. Next, I address how …
Searching For A New Brand: Reimagining A More Diverse Orlando, Kevin Archer, Kris Bezdecny
Searching For A New Brand: Reimagining A More Diverse Orlando, Kevin Archer, Kris Bezdecny
All Faculty Scholarship for the School of Graduate Studies and Research
No abstract provided.
The U.S. Economic Crisis: Another "Lost Decade"?, Paula Chungsathaporn
The U.S. Economic Crisis: Another "Lost Decade"?, Paula Chungsathaporn
Honors College Theses
America is experiencing the worst economic downturn since the Great Depression originating with problems from mortgage backed securities and seeping into every major sector in the economy. We have witnessed the downfall or government takeover of some of the most powerful companies in the country, contributing to the highest unemployment rate America has seen in decades. During the 1990s, Japan experienced what is commonly referred to as “the lost decade,” a period of prolonged stagnant growth. Many similarities can be drawn between the current U.S. crisis and the Japanese crisis of the late 90s. The macroeconomic conditions that caused the …
The Economic Foundations Of Contemporary Slavery, Justin Guay
The Economic Foundations Of Contemporary Slavery, Justin Guay
Human Rights & Human Welfare
“Slavery existed before money or law” (Hochschild 2005). Indeed the “peculiar institution” is one of humanity’s oldest. It has, however, evolved and manifested itself quite distinctly in different periods of history. In contrast to historical views of slavery that are associated with Chattel Slavery, numerous forms fall under the umbrella term of contemporary slavery. The United Nations (U.N.) Working Group recognizes such radically new forms as: child labor, children in conflict, trafficking in persons, sexual exploitation, and the sale of children. The International Labor Office (ILO) approaches the topic through the lens of forced labor. The ILO recognizes slavery and …
Development And Inequality: The Origins And Consequences Of Disciplinary Power In Argentina, Jessica Cenegy Brice
Development And Inequality: The Origins And Consequences Of Disciplinary Power In Argentina, Jessica Cenegy Brice
All-Inclusive List of Electronic Theses and Dissertations
Significant emphasis has been placed upon external influences which have maintained or perpetuated the relative underdevelopment of Latin America. Though some of this literature will provide a basis for explanation, the current analysis addresses the phenomenon with a notable variation from existing perspectives by introducing the Foucauldian distinction between juridical power and disciplinary power as an evaluative framework of analysis. Specifically, it emphasizes the need to incorporate unique cultural, historical, and structural characteristics that interrelate with power dynamics that have materialized within Argentina and have frustrated development efforts.
Age Concern: The Future Of The Oecd, Richard Woodward
Age Concern: The Future Of The Oecd, Richard Woodward
Articles
‘Life’, so the adage has it, ‘begins at 40’. But, as American journalist Helen Rowland wryly observed, ‘so do fallen arches, rheumatism, faulty eyesight, and the tendency to tell a story to the same person, three or four times’. Such a sentiment should resonate within the Parisian corridors of the Organisation for Cooperation and Development (OECD) which celebrates its 45th anniversary on 30 September. Rival institutional developments, evolving geo-political realities, hostility from non-governmental organisations (NGOs) and the absence of a precisely defined mission statement have marred the OECD’s fifth decade and left the organisation struggling to justify its place in …
Historical Perspective On Performance Budgeting: Performance Budgeting In The United States Before 1960, Dan Williams
Historical Perspective On Performance Budgeting: Performance Budgeting In The United States Before 1960, Dan Williams
Publications and Research
With the assistance of A. E. Buck, Herbert Hoover coined the term Performance Budget in 1949 to rebrand cost data budgeting. Cost data budgeting originated in 1912 in Richmond County (Staten Island), New York. It is strongly associated with the National Commission on Municipal Standards and the Committee on Uniform Street Sanitation Records, which are both direct derivatives of Clarence Ridley’s original work in making sense of performance measurement under the title Means of Measuring Municipal Government, his 1927 dissertation at Syracuse University. Ridley subsequently led the International City Managers Association for nearly 30 years. He teamed with A. E. …
The Organisation For Economic Cooperation And Development, Richard Woodward
The Organisation For Economic Cooperation And Development, Richard Woodward
Articles
This article reviews the role of the OECD, a much cited but little studied institution, in global governance.
Political Barriers And The Transmission Of Monetary Policy Across States: The New England Antebellum Banking Market, Andrew J. Economopoulos
Political Barriers And The Transmission Of Monetary Policy Across States: The New England Antebellum Banking Market, Andrew J. Economopoulos
Business and Economics Faculty Publications
The New England antebellum banking market was examined to understand the interaction of political ideology and economic forces. With each state controlling bank entry, hence the money supply, political ideology could impede the supply of money within a state. However, the monetary forces from neighboring states may have influenced the degree to which parties held true to their political ideology. The results indicate that political ideology was an effective barrier in two of the six states, while three states were responsive to neighbor states' monetary policy regardless of political ideology. These states responded by creating new banks, raising existing capital …