A growing chorus of activists claim that American corporations are too focused on the bottom line — and not sufficiently dedicated to improving the broader society. Even some figures from the business community have begun to call for corporations to move from a narrow focus on shareholders to a much more expansive commitment to “stakeholders.” In this episode, Richard Epstein explains how such efforts blur the lines between private business, charity, and government; why a corporation’s responsibility to shareholders isn’t inherently anti-social; And where progressive critiques of corporate governance and “quarterly capitalism” fall short.
With signs of a possible recession on the horizon, Richard Epstein considers some of the purported causes and proposed solutions. Is President Trump right that the Federal Reserve needs to be more accommodating? Are the disruptions from the trade war with China worth it because of their potential geopolitical dividends? Is cutting payroll taxes a reasonable way to jumpstart the economy? And are we better off letting recessions burn themselves out rather than seeking to arrest them through government intervention?
Richard Epstein analyzes the multitude of Democratic gun control proposals in the wake of the El Paso and Dayton shootings, proposes an alternative strategy for dealing with mass gun violence, and weighs the merits of proposed “red flag” laws.