The Return of Substantive Due Process?

Glen Atkinson and Stephen Paschall

Journal of Economic Issues, 2011, vol. 45, issue 2, 439-446

Abstract: We examine the evolution of law regarding corporations' legal status and the power of government to regulate corporations. John R. Commons described this jurisprudential history as changing the meaning of property from individual ownership to a going business owned by a going concern. Despite this history, the U.S. Supreme Court's 2010 decision, Citizens United v. Federal Election Commission, accorded corporations the rights of individual citizens, characterizing the corporation as an "association of citizens." If corporations are associations of citizens rather than going concerns distinct from their owners, the law will elevate private interests of shareholders above collective interests.

Date: 2011
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DOI: 10.2753/JEI0021-3624450221

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