State, Society, and Corporate Power

Front Cover
Marc R. Tool, Warren J. Samuels
Transaction Publishers, 1989 M01 1 - 493 pages

This volume of selections from the Journal of Economic Issues carries the institutional economics analysis of the acquisition and use of economic power into new and critically significant subject areas: law and economics, the public control of economic power, and international implications of public and private use of power to influence the flow of real income on a global scale. Its particular interest is the possession and use of corporate power, especially in relation to the state as a representative of society.

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Selected pages


Contract Law the Free Market and State Intervention A Jurisprudential Perspective
Bargain and Contract Theory in Law and Economics
Power Contract and the Economic Model
Legal Foundations of the Corporate State
A New View on the Economic Theory of the State A Case Study of France
John R Commons and the Democratic State
Legal Counsel Power and Institutional Hegemony
On the Nature and Existence of Economic Coercion The Correspondence of Robert Lee Hale and Thomas Nixon Carver
Problems of the Social Control of Corporate Power
Antitrust in a Planned Economy Anachronism or an Essential Complement?
Realism and Relevance in Public Utility Regulation
Apologetics of Deregulation in Energy and Telecommunications An Institutionalist Assessment
Oligarchic Capitalism Arguable Reality Thinkable Future?
Democratic Economic Planning and Worker Ownership
The International Corporate and NationState Systems of Power

Judicial Regulation of the Environment Under Posners Economic Model of the Law
Property Rights and Human Rights Efficiency and Democracy as Criteria for Regulatory Reform
Institutionally Determined Property Claims
Dangers in Using the Idea of Property Rights Modern Property Rights Theory and the NeoClassical Trap
Property in Land As Cultural Imperialism or Why Ethnocentric Ideas Wont Work in India and Africa
In Defense of Government Regulation
What Is Economic Imperialism?
The Evolution of Colonial Institutions An Argument Illustrated from the Economic History of British Central Africa
Global Corporations and National Stabilization Policy The Need for Social Planning
The Industrial Economy and International Price Shocks
The Information Society Implications for Economic Institutions and Market Theory

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Page 89 - But the liberty safeguarded is liberty in a social organization which requires the protection of law against the evils which menace the health, safety, morals and welfare of the people.
Page 18 - Nor is it difficult to see what is the tie between man and man which replaces by degrees those forms of reciprocity in rights and duties which have their origin in the Family. It is Contract. Starting, as from one terminus of history, from a condition of society in which all the relations of Persons are summed up in the relations of Family, we seem to have steadily moved towards a phase of social order in which all these relations arise from the free agreement of Individuals.
Page 163 - The road to the free market was opened and kept open by an enormous increase in continuous, centrally organized and controlled interventionism.
Page 160 - CIVILIZATION, taken in its wide ethnographic sense, is that complex whole which includes knowledge, belief, art, morals, law, custom, and any other capabilities and habits acquired by man as a member of society.
Page 88 - Employment Act of 1946". DECLARATION OF POLICY SEC. 2. The Congress hereby declares that it is the continuing policy and responsibility of the Federal Government to use all practicable means consistent with its needs and obligations and other essential considerations of national policy, with the assistance and cooperation of industry, agriculture, labor, and State and local governments...
Page 303 - But generally over the field of industry and finance we must revive and strengthen competition if we wish to preserve and make workable our traditional system of free private enterprise.
Page 269 - There is no central distribution, no person or group entitled to control all the resources, (jointly) deciding how they are to be doled out. What each person gets, he gets from others who give to him in exchange for something, or as a gift. In a free society, diverse persons control different resources, and new holdings arise out of the voluntary exchanges and actions of persons. There is no more a distributing or distribution of shares than there is a distributing of mates in a society in which...
Page 174 - Brotherhood of Railroad Trainmen v. Virginia ex rel Virginia State Bar, 377 US 1 (1964); United Mine Workers v.
Page 26 - All that needs to be done is for the Administration to act as friends of both sides, and introduce the native labourer to the European capitalist. A gentle insistence that the native should contribute his fair share to the revenue of the country by paying his tax is all that is necessary on our part to ensure his taking a share in life's labour which no human being should avoid.
Page 180 - ... Hence the natural reaction to any recognized form of private coercion is, " forbid it." One who would not wish to take from the laboring man his power to quit the employer, or to deny him the wages that he gets for not quitting, is apt to resent the suggestion that those wages are in fact coercive. But were it once recognized that nearly all incomes are the result of private coercion, some with the help of the state, some without it, it would then be plain that to admit the coercive nature of...

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