Creating the path forward by social control

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Chapter 8 in Evolution of the Corporation in the United States, 2021, pp 162-179 from Edward Elgar Publishing

Abstract: Chapter 8 summarizes the conclusions and responds to questions posed in Chapter 1. The potential for abundance in a post-scarcity society was imagined by John Maynard Keynes. That potential cannot be realized in an economy focused on financial value. Efforts to restore social control at the federal level have failed. The states historically have controlled corporations but that control was ceded at the turn of the twentieth century. It lies within the power of states to reassert social control through corporate laws. The prospects are dim when the discipline of economics is a roadblock to reform. In its New Finance the economics profession provides a justification of emerging business practices that is detrimental to long-term investment, income distribution and macroeconomic stability.

Keywords: Economics and Finance; Law - Academic (search for similar items in EconPapers)
Date: 2021
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Citations: View citations in EconPapers (1)

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