History Lesson: The Corporation, Part 3 of 3
The public corporation is under attack in America today. The regulatory burden is ever increasing: boards and CEOs are constantly harassed over wide-ranging issues from CEO pay to options "backdating," and the media continues to portray corporate America as a cesspool of corruption. The expenses and risks of being a public corporation are now so great that an unprecedented number of companies are choosing to "go private."
In this course, Dr. Brook discusses the history and economics behind the rise of the modern corporation, explaining how this form of business organization made possible new heights of wealth creation. He explains why the corporation, despite its productive virtues, has been attacked as illegitimate and immoral since its inception. Finally, he discusses the popular paradigm of "corporate social responsibility" and contrasts it with the proper corporate goal of shareholder wealth maximization.
This course was recorded at the 2007 Objectivist Summer Conference
in Telluride, CO.
Jul 08, 2007
Objectivist Conference Presentations
brief recap and self-interest in managing companies
hostile takeovers & stock options
separation of ownership and control
Stock Market Bubbles and other bubbles
Q: Under laissez-faire, would bubbles occur and what about insider trading?
CEO reimbursement options
Empirical evidence on CEO pay
Private equity and buyouts and being a public company under Sarbanes-Oxley
the future under the status quo vs. Objectivism future