Corporate Friction by David Yosifon - 9781316637173

Corporate FrictionHow Corporate Law Impedes American Progress and What to Do about It\nAuthor(s): David Yosifon\nFormat: Paperback\nPublisher: Cambridge University Press, United Kingdom\nImprint: Cambridge University Press\nISBN-13: 9781316637173, 978-1316637173\nSynopsis\nCorporate law in the United States requires directors to manage firms in the interests of shareholders, which means never sacrificing profits in service of other stakeholders or interests. In this timely, groundbreaking book, David Yosifon argues that this rule of 'shareholder primacy' is logically, ethically, and practically unsound, and should be replaced by a new standard that compels directors of our largest corporations to manage firms in a socially responsible way. In addition to summarizing existing debates on the issue - and giving special attention to the Supreme Court's decision in Citizens United - Yosifon explores the problem of corporate patriotism and develops a novel approach to the relationship betw.