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Adam Smith’s America: How a Scottish Philosopher Became an Icon of American Capitalism
by Glory M. LiuThe unlikely story of how Americans canonized Adam Smith as the patron saint of free marketsOriginally published in 1776, Adam Smith&’s The Wealth of Nations was lauded by America&’s founders as a landmark work of Enlightenment thinking about national wealth, statecraft, and moral virtue. Today, Smith is one of the most influential icons of economic thought in America. Glory Liu traces how generations of Americans have read, reinterpreted, and weaponized Smith&’s ideas, revealing how his popular image as a champion of American-style capitalism and free markets is a historical invention.Drawing on a trove of illuminating archival materials, Liu tells the story of how an unassuming Scottish philosopher captured the American imagination and played a leading role in shaping American economic and political ideas. She shows how Smith became known as the father of political economy in the nineteenth century and was firmly associated with free trade, and how, in the aftermath of the Great Depression, the Chicago School of Economics transformed him into the preeminent theorist of self-interest and the miracle of free markets. Liu explores how a new generation of political theorists and public intellectuals has sought to recover Smith&’s original intentions and restore his reputation as a moral philosopher.Charting the enduring fascination that this humble philosopher from Scotland has held for American readers over more than two centuries, Adam Smith&’s America shows how Smith continues to be a vehicle for articulating perennial moral and political anxieties about modern capitalism.
Adam Smith Reconsidered: History, Liberty, and the Foundations of Modern Politics
by Paul SagarA radical reinterpretation of Adam Smith that challenges economists, moral philosophers, political theorists, and intellectual historians to rethink him—and why he mattersAdam Smith has long been recognized as the father of modern economics. More recently, scholars have emphasized his standing as a moral philosopher—one who was prepared to critique markets as well as to praise them. But Smith’s contributions to political theory are still underappreciated and relatively neglected. In this bold, revisionary book, Paul Sagar argues that not only have the fundamentals of Smith’s political thought been widely misunderstood, but that once we understand them correctly, our estimations of Smith as economist and as moral philosopher must radically change.Rather than seeing Smith either as the prophet of the free market, or as a moralist who thought the dangers of commerce lay primarily in the corrupting effects of trade, Sagar shows why Smith is more thoroughly a political thinker who made major contributions to the history of political thought. Smith, Sagar argues, saw war, not commerce, as the engine of political change and he was centrally concerned with the political, not moral, dimensions of—and threats to—commercial societies. In this light, the true contours and power of Smith’s foundational contributions to western political thought emerge as never before.Offering major reinterpretations of Smith’s political, moral, and economic ideas, Adam Smith Reconsidered seeks to revolutionize how he is understood. In doing so, it recovers Smith’s original way of doing political theory, one rooted in the importance of history and the necessity of maintaining a realist sensibility, and from which we still have much to learn.
Adam Smith Reconsidered: History, Liberty, and the Foundations of Modern Politics
by Paul SagarA radical reinterpretation of Adam Smith that challenges economists, moral philosophers, political theorists, and intellectual historians to rethink him—and why he mattersAdam Smith has long been recognized as the father of modern economics. More recently, scholars have emphasized his standing as a moral philosopher—one who was prepared to critique markets as well as to praise them. But Smith’s contributions to political theory are still underappreciated and relatively neglected. In this bold, revisionary book, Paul Sagar argues that not only have the fundamentals of Smith’s political thought been widely misunderstood, but that once we understand them correctly, our estimations of Smith as economist and as moral philosopher must radically change.Rather than seeing Smith either as the prophet of the free market, or as a moralist who thought the dangers of commerce lay primarily in the corrupting effects of trade, Sagar shows why Smith is more thoroughly a political thinker who made major contributions to the history of political thought. Smith, Sagar argues, saw war, not commerce, as the engine of political change and he was centrally concerned with the political, not moral, dimensions of—and threats to—commercial societies. In this light, the true contours and power of Smith’s foundational contributions to western political thought emerge as never before.Offering major reinterpretations of Smith’s political, moral, and economic ideas, Adam Smith Reconsidered seeks to revolutionize how he is understood. In doing so, it recovers Smith’s original way of doing political theory, one rooted in the importance of history and the necessity of maintaining a realist sensibility, and from which we still have much to learn.
The Adam Smith Problem: Reconciling Human Nature and Society in ‘The Theory of Moral Sentiments’ and ‘Wealth of Nations’
by Dogan GöçmenThis is the first scholarly work to deal solely with the Adam Smith problem, namely the apparent contradiction between Adam Smith's most famous works, "The Theory of Moral Sentiments" and "The Nature and Causes of the Wealth of Nations". Since the 1840s scholars have puzzled over and attempted to explain the fact that these works offer two fundamentally different and contradictory concepts of human nature. In this radical new approach Do an Gocmen argues that there are, indeed, two different concepts of human nature; in "The Theory of Moral Sentiments", Smith advocates a broad synchronization of human intention and behaviour under a beneficent providence in a system of mutual sympathy, whereas "Wealth of Nations" is a critical account of the human situation of the individual and is an egoistic description of human beings in commercial society. Gocmen argues that Smith does indeed put forward two different and varied ideas, arguing that the ethical position articulated in "The Theory of Moral Sentiments" can be, and was intended by Smith to be, applied as a basis for criticising the commercial society analysed in the "Wealth of Nations".Gocmen argues that this ethical position points to the character of its ideal future replacement, that of Adam Smith's Utopia. Gocmen therefore dismisses as short-sighted and oversimple the common assumption that Adam Smith's Utopia consists merely of 'the invisible hand', the idea that markets would regulate everything if left to their own dynamics. This book challenges the traditional approach to Adam Smith and is the first contribution to the solution of a long-standing debate, making it essential reading for anyone wanting to understand the moral philosophy, political economy and utopian thought of Adam Smith.
Adam Smith on the Ancients and the Moderns (Routledge Studies in the History of Economics)
by Gloria VivenzaThe classics heavily influenced many aspects of European modern culture, yet it is not easy to trace their intellectual power on any author. In this volume, Gloria Vivenza takes on the impressive task of examining how philosophy, history, literature, politics, and ethics all played a part in shaping Adam Smith’s thought as a scholar, philosopher, and economist.This book will be of interest to advanced students and researchers in the history of economic thought, the history of philosophy, moral philosophy, political theory, and the Enlightenment.
Adam Smith on the Ancients and the Moderns (Routledge Studies in the History of Economics)
by Gloria VivenzaThe classics heavily influenced many aspects of European modern culture, yet it is not easy to trace their intellectual power on any author. In this volume, Gloria Vivenza takes on the impressive task of examining how philosophy, history, literature, politics, and ethics all played a part in shaping Adam Smith’s thought as a scholar, philosopher, and economist.This book will be of interest to advanced students and researchers in the history of economic thought, the history of philosophy, moral philosophy, political theory, and the Enlightenment.
Adam Smith and the Philosophy of Law and Economics (Law and Philosophy Library #20)
by Robin Paul Malloy Jerry EvenskyAdam Smith and the Philosophy of Law and Economics is a unique book. Malloy and Evensky bring together a team of international and interdisciplinary scholars to address the work of Adam Smith as it relates to law and economics. In addition to their own contributions, the book includes works by Dr. John W. Cairns of the University of Edinburgh, Dr. J. Ralph Lindgren of Lehigh University, Professor Kenneth A.B. Mackinnon of the University of Waikato, and the Honorable Richard A. Posner of the United States Circuit Court of Appeals. Together these authors bring expertise from the areas of law, philosophy, history, economics, and law and economics to a new study of Adam Smith and his work. Part One of the book presents new and important observations on Smith's views on community, ethics, the court system, criminal law, and delictual or tort law liability. In this part of the book Smith's work is also examined from the perspective of his use as persuasive authority in the works of modern legal economists. In Part Two the `living Smith' is explored by way of a debate between two major contributors in the field of law and economics. The debate and its analysis create a unique and contemporary opportunity to study Smith as a foundational source in the midst of a current academic and social policy dispute. The understanding of Adam Smith that emerges from this book is new and complex. It will challenge the one-dimensional portrayals of Smith as a promoter of self-interest and it will correct many of the misinterpretations of Smith that are currently fashionable in the worlds of law and economics and the philosophy of law.
Adam Smith: Systematic Philosopher and Public Thinker
by Eric SchliesserEric Schliesser's Adam Smith is the product of two decades' reflection by the author on the great Scottish Enlightenment. Unique among treatments of Adam Smith, Schliesser's book treats him as a systematic philosopher. Smith was a giant of the Scottish Enlightenment with polymath interests; Schliesser thus explores Smith's economics and ethics in light of his other commitments on the nature of knowledge, the theory of emotions, the theory of mind, his account of language, the nature of causation, and his views on methodology. He places Smith's ideas in the context of a host of other philosophers, especially Hume, Rousseau, and Newton; and he draws on the reception of Smith's ideas by Sophie de Grouchy, Mary Wollstonecraft, and other philosophers and economists to sketch the elements of, and the detailed connections within, Smith's system. Adam Smith traces the outlines of Smith's intellectual system and situates it in the context of his highly developed views on the norms that govern responsible speech. In particular, the book articulates Smith's concerns about the impact of his public policy recommendations, especially on the least powerful in society. In so doing, Schliesser offers new interpretations of Smith's views on the invisible hand, the Wealth of Nations, his treatment of virtue, the nature of freedom, the individual's relationship to society, his account of the passions, the moral roles of religion, and his treatment of the role of mathematics in economics. While the book does offer a single argument, it is organized in a modular fashion and includes a helpful index; readers with a more focused interest in Smith's achievements can skip to their section of interest.
Adam Smith: Systematic Philosopher and Public Thinker
by Eric SchliesserEric Schliesser's Adam Smith is the product of two decades' reflection by the author on the great Scottish Enlightenment. Unique among treatments of Adam Smith, Schliesser's book treats him as a systematic philosopher. Smith was a giant of the Scottish Enlightenment with polymath interests; Schliesser thus explores Smith's economics and ethics in light of his other commitments on the nature of knowledge, the theory of emotions, the theory of mind, his account of language, the nature of causation, and his views on methodology. He places Smith's ideas in the context of a host of other philosophers, especially Hume, Rousseau, and Newton; and he draws on the reception of Smith's ideas by Sophie de Grouchy, Mary Wollstonecraft, and other philosophers and economists to sketch the elements of, and the detailed connections within, Smith's system. Adam Smith traces the outlines of Smith's intellectual system and situates it in the context of his highly developed views on the norms that govern responsible speech. In particular, the book articulates Smith's concerns about the impact of his public policy recommendations, especially on the least powerful in society. In so doing, Schliesser offers new interpretations of Smith's views on the invisible hand, the Wealth of Nations, his treatment of virtue, the nature of freedom, the individual's relationship to society, his account of the passions, the moral roles of religion, and his treatment of the role of mathematics in economics. While the book does offer a single argument, it is organized in a modular fashion and includes a helpful index; readers with a more focused interest in Smith's achievements can skip to their section of interest.
Ad Law: The Essential Guide to Advertising Law and Regulation
by Richard LindsayEnsuring marketers and advertisers are aware of the laws and regulations of advertising is now more important than ever. If a campaign is found to be potentially offensive, harmful, or misleading, it can 'go viral' in just the click of a mouse, and the implications of breaching those laws are likely to be both damaging and costly to a brand's reputation, its creative work, and the strategic planning behind it. Now offering level-headed advice on everyday questions encountered when designing and running promotional campaigns, Ad Law, the new book from the Institute of Practitioners in Advertising (IPA), is the ultimate handbook to the law and regulation of advertising and marketing communications. Containing guidance based on real-world experiences from media and advertising lawyers and the IPA legal team, this book expertly leads readers through the most applicable laws and regulations, common pitfalls and the practicalities behind them, such as the new industry-standard client/agency agreement. Covering issues such as intellectual property, privacy and defamation, plus the self-regulatory framework, Ad Law is the ideal companion for any advertising and marketing professional, or lawyer working within these sectors.
Ad Law: The Essential Guide to Advertising Law and Regulation
by Richard LindsayEnsuring marketers and advertisers are aware of the laws and regulations of advertising is now more important than ever. If a campaign is found to be potentially offensive, harmful, or misleading, it can 'go viral' in just the click of a mouse, and the implications of breaching those laws are likely to be both damaging and costly to a brand's reputation, its creative work, and the strategic planning behind it. Now offering level-headed advice on everyday questions encountered when designing and running promotional campaigns, Ad Law, the new book from the Institute of Practitioners in Advertising (IPA), is the ultimate handbook to the law and regulation of advertising and marketing communications. Containing guidance based on real-world experiences from media and advertising lawyers and the IPA legal team, this book expertly leads readers through the most applicable laws and regulations, common pitfalls and the practicalities behind them, such as the new industry-standard client/agency agreement. Covering issues such as intellectual property, privacy and defamation, plus the self-regulatory framework, Ad Law is the ideal companion for any advertising and marketing professional, or lawyer working within these sectors.
The Ad Hoc Diplomat: A Study in Municipal and International Law
by Maurice WatersThe special diplomatic agent has played in the history of American foreign policy an important and, it is safe to say, unique role. The names of Colonel House and Harry Hopkins come, of course, right away to mind. But there have been others: John Quincy Adams, Ber nard M. Baruch, Henry Clay, Albert Gallatin, James Monroe, John Randolph, Daniel Webster, Wendell Wilkie, for instance. At the beginning of American history, the use of the special agent was primarily due to the scarcity of available talent. Later it was due to the low quality of many diplomatic representatives, chosen for political reasons and without regard for their diplomatic qualifications. More recently, the President has availed himself of the special agent in order to make sure that his will prevails in the conduct of American foreign policy. The institution of the special agent is indeed inseparable from the preeminent, contested and uncertain role the President plays in the determination of American foreign policy. Since the Constitution is silent on that point, the ultimate determi nation of American foreign policy has been throughout American history a subject ot controversy between the President and Congress.
Ad Hoc Arbitration in China
by Tietie ZhangArbitration is the dominant method in the world for resolving international commercial disputes. As compared with institutional arbitration, ad hoc arbitration has many advantages that make it a preferred way to resolve commercial disputes on many occasions. The Arbitration Law of the People’s Republic of China, however, requires that parties appoint an arbitration institution in their arbitration agreement; otherwise an ad hoc arbitration agreement is invalid. This rule seems to preclude ad hoc arbitration under Chinese law and threatens the validity of many arbitration agreements that are imperfectly drafted. Fortunately, however, this does not mean Chinese courts will never enforce an ad hoc arbitration agreement or an ad hoc arbitration award. This book informs parties and practitioners of potential pitfalls related to ad hoc arbitration in China and offers practical guidance. It also conducts a comparative study of the history of arbitration in the Western world and in China, to identify the reasons for this hostility to ad hoc arbitration and calls for changes to this requirement under Chinese law.
Ad Hoc Arbitration in China
by Tietie ZhangArbitration is the dominant method in the world for resolving international commercial disputes. As compared with institutional arbitration, ad hoc arbitration has many advantages that make it a preferred way to resolve commercial disputes on many occasions. The Arbitration Law of the People’s Republic of China, however, requires that parties appoint an arbitration institution in their arbitration agreement; otherwise an ad hoc arbitration agreement is invalid. This rule seems to preclude ad hoc arbitration under Chinese law and threatens the validity of many arbitration agreements that are imperfectly drafted. Fortunately, however, this does not mean Chinese courts will never enforce an ad hoc arbitration agreement or an ad hoc arbitration award. This book informs parties and practitioners of potential pitfalls related to ad hoc arbitration in China and offers practical guidance. It also conducts a comparative study of the history of arbitration in the Western world and in China, to identify the reasons for this hostility to ad hoc arbitration and calls for changes to this requirement under Chinese law.
AD 381: Heretics, Pagans and the Christian State
by Charles FreemanIn AD 381, Theodosius, emperor of the eastern Roman empire, issued a decree in which all his subjects were required to subscribe to a belief in the Trinity of the Father, Son and Holy Spirit. This edict defined Christian orthodoxy and brought to an end a lively and wide-ranging debate about the nature of the Godhead; all other interpretations were now declared heretical. Moreover, for the first time in a thousand years of Greco-Roman civilization free thought was unambiguously suppressed. Yet surprisingly this political revolution, intended to bring inner cohesion to an empire under threat from the outside, has been airbrushed from the historical record. Instead, it has been claimed that the Christian Church had reached a consensus on the Trinity which was promulgated at the Council of Constantinople in AD 381.In this groundbreaking new book, Freeman argues that Theodosius's edict and the subsequent suppression of paganism not only brought an end to the diversity of religious and philosophical beliefs throughout the empire but created numerous theological problems for the Church, which have remained unsolved. The year AD 381, Freeman concludes, marked 'a turning point which time forgot'.
Acts of Hope: Creating Authority in Literature, Law, and Politics
by James Boyd WhiteTo which institutions or social practices should we grant authority? When should we instead assert our own sense of what is right or good or necessary? In this book, James Boyd White shows how texts by some of our most important thinkers and writers—including Plato, Shakespeare, Dickinson, Mandela, and Lincoln—answer these questions, not in the abstract, but in the way they wrestle with the claims of the world and self in particular historical and cultural contexts. As they define afresh the institutions or practices for which they claim (or resist) authority, they create authorities of their own, in the very modes of thought and expression they employ. They imagine their world anew and transform the languages that give it meaning. In so doing, White maintains, these works teach us about how to read and judge claims of authority made by others upon us; how to decide to which institutions and practices we should grant authority; and how to create authorities of our own through our thoughts and arguments. Elegant and accessible, this book will appeal to anyone wanting to better understand one of the primary processes of our social and political lives.
Acts of Hope: Creating Authority in Literature, Law, and Politics (Negro American Biographies And Autobiographies Ser.)
by James Boyd WhiteTo which institutions or social practices should we grant authority? When should we instead assert our own sense of what is right or good or necessary? In this book, James Boyd White shows how texts by some of our most important thinkers and writers—including Plato, Shakespeare, Dickinson, Mandela, and Lincoln—answer these questions, not in the abstract, but in the way they wrestle with the claims of the world and self in particular historical and cultural contexts. As they define afresh the institutions or practices for which they claim (or resist) authority, they create authorities of their own, in the very modes of thought and expression they employ. They imagine their world anew and transform the languages that give it meaning. In so doing, White maintains, these works teach us about how to read and judge claims of authority made by others upon us; how to decide to which institutions and practices we should grant authority; and how to create authorities of our own through our thoughts and arguments. Elegant and accessible, this book will appeal to anyone wanting to better understand one of the primary processes of our social and political lives.
Acts of Hope: Creating Authority in Literature, Law, and Politics
by James Boyd WhiteTo which institutions or social practices should we grant authority? When should we instead assert our own sense of what is right or good or necessary? In this book, James Boyd White shows how texts by some of our most important thinkers and writers—including Plato, Shakespeare, Dickinson, Mandela, and Lincoln—answer these questions, not in the abstract, but in the way they wrestle with the claims of the world and self in particular historical and cultural contexts. As they define afresh the institutions or practices for which they claim (or resist) authority, they create authorities of their own, in the very modes of thought and expression they employ. They imagine their world anew and transform the languages that give it meaning. In so doing, White maintains, these works teach us about how to read and judge claims of authority made by others upon us; how to decide to which institutions and practices we should grant authority; and how to create authorities of our own through our thoughts and arguments. Elegant and accessible, this book will appeal to anyone wanting to better understand one of the primary processes of our social and political lives.
Acts, Intentions, and Moral Evaluation (Routledge Studies in Ethics and Moral Theory)
by Craig M. WhiteThis book argues that the moral quality of an act comes from the agent’s inner states. By arguing for the indispensable relevance of intention in the moral evaluation of acts, the book moves against a mainstream, "objective" approach in normative ethics. It is commonly held that the intentions, knowledge, and volition of agents are irrelevant to the moral permissibility of their acts. This book stresses that the capacities of agency, rather than simply the label "agent," must be engaged during an act if its moral evaluation is to be coherent. The author begins with an ontological argument that an act is a motion or a causing of change in something else. He argues that the source of an act’s moral meaning is in the agent: specifically, what the agent, if aware of relevant facts around her, aims to accomplish. He then moves to a series of critical chapters that consider arguments for mainstream approaches to act evaluation, including Thomson’s dismissal of the agent knowledge and volition requirements, Scanlon’s arguments for a derivative relevance of intentions to permissibility, Frowe’s "causal roles" of agents in the moral evaluation of acts, and Bennett’s explicit defense of the objective approach. The book concludes by offering the author’s preferred replacement for the objective approach, an Aristotelian-Thomist view of acts. Acts, Intentions, and Moral Evaluation will be of interest to scholars and advanced students working in ethics, just war theory, the ethics of self-defense, and philosophy of action.
Acts, Intentions, and Moral Evaluation (Routledge Studies in Ethics and Moral Theory)
by Craig M. WhiteThis book argues that the moral quality of an act comes from the agent’s inner states. By arguing for the indispensable relevance of intention in the moral evaluation of acts, the book moves against a mainstream, "objective" approach in normative ethics. It is commonly held that the intentions, knowledge, and volition of agents are irrelevant to the moral permissibility of their acts. This book stresses that the capacities of agency, rather than simply the label "agent," must be engaged during an act if its moral evaluation is to be coherent. The author begins with an ontological argument that an act is a motion or a causing of change in something else. He argues that the source of an act’s moral meaning is in the agent: specifically, what the agent, if aware of relevant facts around her, aims to accomplish. He then moves to a series of critical chapters that consider arguments for mainstream approaches to act evaluation, including Thomson’s dismissal of the agent knowledge and volition requirements, Scanlon’s arguments for a derivative relevance of intentions to permissibility, Frowe’s "causal roles" of agents in the moral evaluation of acts, and Bennett’s explicit defense of the objective approach. The book concludes by offering the author’s preferred replacement for the objective approach, an Aristotelian-Thomist view of acts. Acts, Intentions, and Moral Evaluation will be of interest to scholars and advanced students working in ethics, just war theory, the ethics of self-defense, and philosophy of action.
The Actors of Postnational Rule-Making: Contemporary challenges of European and International Law
by Elaine FaheyDespite its centrality to academic discussions of power and influence, there is little consensus in legal scholarship over what constitutes an actor in rule-making. This book explores the range of actors involved in rule-making within European Union law and Public International law, and focuses especially on actors that are often overlooked by formative and doctrinal approaches. Drawing together contributions from many scholars in various fields the book examines such issues as the accommodation of new actors in the process of postnational rule-making, the visibility or covertness of actors within the process, and the role of social acceptance and legitimacy in postnational rule-making. In its endeavour to render and examine the work and effect of actors often side-lined in the study of postnational rule-making, this book will be of great use and interest to students and scholars of EU law, international law and socio-legal studies.
The Actors of Postnational Rule-Making: Contemporary challenges of European and International Law
by Elaine FaheyDespite its centrality to academic discussions of power and influence, there is little consensus in legal scholarship over what constitutes an actor in rule-making. This book explores the range of actors involved in rule-making within European Union law and Public International law, and focuses especially on actors that are often overlooked by formative and doctrinal approaches. Drawing together contributions from many scholars in various fields the book examines such issues as the accommodation of new actors in the process of postnational rule-making, the visibility or covertness of actors within the process, and the role of social acceptance and legitimacy in postnational rule-making. In its endeavour to render and examine the work and effect of actors often side-lined in the study of postnational rule-making, this book will be of great use and interest to students and scholars of EU law, international law and socio-legal studies.
Activists Speak Out: Reflections on the Pursuit of Change in America
by NA NAIn Activists Speak Out, a group of fifteen American activists speak candidly about how and why they struggle for change. Their causes and strategies vary - in the areas of civil rights, gay and lesbian rights, the environment, women's issues, health, youth, education, labor, freedom of expression and the arts. But the lessons learned resonate across geographic and ideological boundaries. Whether working as grass-roots organizers or corporate insiders, in cities or in rural areas, the through-line of their observations is constant: Change is slow, and may take shape in unexpected ways. Small victories count. And, whatever the initial motivation to become engaged in the struggle for change - anger, compassion, frustration - the very process of engagement is itself transformative. You cross that line, and nothing is ever the same.
Activist Shareholders in Corporate Governance: The Australian Experience and its Comparative Implications (Contemporary Studies in Corporate Law)
by Tim BowleyThis book explores the regulatory challenges of public company shareholder activism.Around the world, policy makers, practitioners and academics debate how best to regulate shareholder activism. Using Australia as a case study, the book examines key issues raised by this debate. With a market structure and legal settings that are conducive to activism, Australia makes an ideal case study and provides a fresh comparative perspective on the regulatory debate about shareholder activism, which tends to be dominated by US-focused analysis and commentary.The book presents empirical evidence which reveals that Australian activism is a significant and multifaceted phenomenon, undertaken by different types of activists pursuing varying strategies and supported by a range of complementary market developments. The book uses this evidence to develop comparative insights and explore internationally topical issues, including:- activists' willingness to use interventionist governance rights;- the role of intermediaries such as proxy advisers in facilitating activism;- institutional investor stewardship; and- the risks of collective shareholder activism.This book provides an important comparative perspective on the topic of shareholder activism. It is an essential resource for policy makers, practitioners and academics interested in the regulatory implications of shareholder activism.
Activist Shareholders in Corporate Governance: The Australian Experience and its Comparative Implications (Contemporary Studies in Corporate Law)
by Tim BowleyThis book explores the regulatory challenges of public company shareholder activism.Around the world, policy makers, practitioners and academics debate how best to regulate shareholder activism. Using Australia as a case study, the book examines key issues raised by this debate. With a market structure and legal settings that are conducive to activism, Australia makes an ideal case study and provides a fresh comparative perspective on the regulatory debate about shareholder activism, which tends to be dominated by US-focused analysis and commentary.The book presents empirical evidence which reveals that Australian activism is a significant and multifaceted phenomenon, undertaken by different types of activists pursuing varying strategies and supported by a range of complementary market developments. The book uses this evidence to develop comparative insights and explore internationally topical issues, including:- activists' willingness to use interventionist governance rights;- the role of intermediaries such as proxy advisers in facilitating activism;- institutional investor stewardship; and- the risks of collective shareholder activism.This book provides an important comparative perspective on the topic of shareholder activism. It is an essential resource for policy makers, practitioners and academics interested in the regulatory implications of shareholder activism.