CORPORATIONS ARE PEOPLE TOO (AND THEY SHOULD ACT LIKE IT) (Yale University Press, 2018).
Are corporations people? The U.S. Supreme Court launched a heated debate when it ruled in Citizens United that corporations can claim the same free speech rights as humans. Should corporations be able to claim rights of free speech, religious conscience, and due process? Kent Greenfield provides an answer: Sometimes.
With an analysis sure to challenge the assumptions of both progressives and conservatives, Greenfield explores corporations' claims to constitutional rights and the foundational conflicts about their obligations in society. He argues that a blanket opposition to corporate personhood is misguided, since it is consistent with both the purpose of corporations and the Constitution itself that corporations can claim rights at least some of the time. The problem with Citizens United is not that corporations have a right to speak, but for whom they speak. The solution is not to end corporate personhood but to require corporations to act more like citizens.
THE MYTH OF CHOICE: PERSONAL RESPONSIBILITY IN A WORLD OF LIMITS (Yale Univ. Press, 2011).
Americans are fixated on the idea of choice. Our political theory is based on the consent of the governed. Our legal system is built upon the argument that people freely make choices and bear responsibility for them. And what slogan could better express the heart of our consumer culture than "Have it your way"?
In this provocative book, Kent Greenfield poses unsettling questions about the choices we make. What if they are more constrained and limited than we like to think? If we have less free will than we realize, what are the implications for us as individuals and for our society? To uncover the answers, Greenfield taps into scholarship on topics ranging from brain science to economics, political theory to sociology. His discoveries—told through an entertaining array of news events, personal anecdotes, crime stories, and legal decisions—confirm that many factors, conscious and unconscious, limit our free will. Worse, by failing to perceive them we leave ourselves open to manipulation. But Greenfield offers useful suggestions to help us become better decision makers as individuals, and to ensure that in our laws and public policy we acknowledge the complexity of choice.
THE FAILURE OF CORPORATE LAW: FUNDAMENTAL FLAWS AND PROGRESSIVE POSSIBILITIES (Chicago Univ. Press, 2006)
When used in conjunction with corporations, the term “public” is misleading. Anyone can purchase shares of stock, but public corporations themselves are uninhibited by a sense of societal obligation or strict public oversight. In fact, managers of most large firms are prohibited by law from taking into account the interests of the public in decision making, if doing so hurts shareholders. But this has not always been the case, as until the beginning of the twentieth century, public corporations were deemed to have important civic responsibilities.
With The Failure of Corporate Law, Kent Greenfield hopes to return corporate law to a system in which the public has a greater say in how firms are governed. Greenfield maintains that the laws controlling firms should be much more protective of the public interest and of the corporation’s various stakeholders, such as employees. Only when the law of corporations is evaluated as a branch of public law—as with constitutional law or environmental law—will it be clear what types of changes can be made in corporate governance to improve the common good. Greenfield proposes changes in corporate governance that would enable corporations to meet the progressive goal of creating wealth for society as a whole rather than merely for shareholders and executives.