Conservative Collision Course?: the Tension Between Conservative Corporate Law Theory and Citizens United
ISSN 1936-5349 (print) ISSN 1936-5357 (online) HARVARD JOHN M. OLIN CENTER FOR LAW, ECONOMICS, AND BUSINESS CONSERVATIVE COLLISION COURSE?: THE TENSION BETWEEN CONSERVATIVE CORPORATE LAW THEORY AND CITIZENS UNITED Leo E. Strine, Jr. Nicholas Walter Discussion Paper No. 788 08/2014 Forthcoming, Cornell Law Review, Volume 100, January 2015 Harvard Law School Cambridge, MA 02138 This paper can be downloaded without charge from: The Harvard John M. Olin Discussion Paper Series: http://www.law.harvard.edu/programs/olin_center/ The Social Science Research Network Electronic Paper Collection: http://ssrn.com/abstract=2481061 This paper is also a discussion paper of the Harvard Law School Program on Corporate Governance CONSERVATIVE COLLISION COURSE?: THE TENSION BETWEEN CONSERVATIVE CORPORATE LAW THEORY AND CITIZENS UNITED Leo E. Strine, Jr.∗ and Nicholas Walter∗∗ Forthcoming, Cornell Law Review, Volume 100, January 2015 ∗ Chief Justice, Delaware Supreme Court; Adjunct Professor, University of Pennsylvania Law School; Austin Wakeman Scott Lecturer, Harvard Law School; Senior Fellow, Harvard Program on Corporate Governance; Adjunct Professor, Vanderbilt University School of Law; Henry Crown Fellow, Aspen Institute. ∗∗ Law clerk, ; law clerk, Delaware Court of Chancery, 2012-13. The authors acknowledge the invaluable assistance of Elane Boulden, Jennifer Broder, Chelsea Darnell, and Vanessa Richardson, and are grateful for incisive thoughts from Lucian Bebchuk, John Coates, Erin Daly, Lawrence Hamermesh, Robert Post, Roberta Romano, Guhan Subramanian, Randall Thomas, and Michael Wachter. Abstract One important aspect of Citizens United has been overlooked: the tension between the conservative majority’s view of for-profit corporations, and the theory of for-profit corporations embraced by conservative thinkers.
[Show full text]