Seeking to capitalize on the Republicans’ disarray, public cruelty and Trumpitis, the Democratic Party is gearing up for the Congressional elections of 2018. Alas, party leaders are likely to enlist the same old cast and crew. The Democratic National Committee and their state imitators are raising money from the same old big donors and PACs … Read more
The political hypocrisy of crony capitalism – touting market capitalism while making taxpayers fund corporate welfare – is a rare and unfortunate case of bipartisan consensus. Republicans openly embrace it, but many Democrats also fall prey to government-guaranteed corporate capitalism when they believe it to be politically expedient. Maybe these examples will get you steamed … Read more
Apart from sensual appeals, the chief marketing wave in our country is selling convenience. It has reached a level of frenzy with companies like Amazon and Walmart racing your order to your doorstep (with Amazon now wanting the electronic key to your house). Ever since the industrial revolution, when the division of labor between consumers … Read more
As Harvard Law School celebrates its 200th anniversary with two days of events attended by hundreds of alumni, some law students, led by Pete Davis (’18), are inviting the Law School to engage in extraordinary introspection as it looks toward its third century. Mr. Davis, after two years of observation, participation, conversation and research, has … Read more
When Professor Richard Thaler of the University of Chicago received the news that he had won the Nobel Memorial Prize in Economic Sciences for “contributions to behavioral economics,” he faced an eager press with unusual mirth. What’s the story behind Professor Thaler’s jovial response? Maybe he is laughing because the joke is finally on the … Read more
Back in the 1970s, there was a best-seller, widely read in the business community, called “Winning Through Intimidation.” Barack Obama should pick up a copy, because that is what Donald Trump may be doing to him. Obama stays mostly silent as the belligerent Trump rolls back or destroys the legacies of Obama’s eight years in … Read more
A major chapter in American history–rarely taught in our schools–is how ever larger corporations have moved to game, neutralize and undermine the people’s continual efforts to protect our touted democratic society. It is a fascinating story of the relentless exercise of power conceived or seized by corporations, with the strategic guidance of corporate lawyers. Start … Read more
One of the first times I used the phrase “institutional insanity” was in 1973 to describe the behavior of scientist Dixy Lee Ray, chairperson of the presumed regulatory agency, the Atomic Energy Commission (AEC). I pointed out that her personal and academic roles were quite normal. But her running of the AEC—pressing for 1,000 nuclear … Read more
For decades, the factors that decided what noteworthy stories would not find their way into print or on the air came down to the media’s ignorance, laziness or from advertising restraints. How else can one explain the many years that passed before the tobacco, auto and junk food industries became the subject of regular consumer … Read more
The monster of economic waste—over $7 trillion of dictated stock buybacks since 2003 by the self-enriching CEOs of large corporations—started with a little noticed change in 1982 by the Securities and Exchange Commission (SEC) under President Ronald Reagan. That was when SEC Chairman John Shad, a former Wall Street CEO, redefined unlawful ‘stock manipulation’ to … Read more