The Boston Diaries

The ongoing saga of a programmer who doesn't live in Boston, nor does he even like Boston, but yet named his weblog/journal “The Boston Diaries.”

Go figure.

Thursday, February 21, 2002

Profitability trumps legality

Twenty years ago, writing about antitrust crimes in the Michigan Law Review, Easterbrook and Fischel, then both professors at the University of Chicago, wrote that managers not only may, but should, violate the rules when it is profitable to do so. And it is clear that they believed that this rule should apply beyond just antitrust.

In a nutshell, this is the Chicago School view of corporate law that has taken hold over the past 20 years.

Via InstaPundit.Com, Rotten to the Core

So, this explains crap like Microsoft and Enron and the RIAA and the MPAA over the past twenty years.

That's the bad news.

The good news?

According to the article, there is a rise of law professors from outside the Chicago School who are questioning this, and saying that corporations should actually follow the law! The horror!

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