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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