Tax Day and Corporate Form Bonus

This week’s chapter, about the rise fo the corporate form, playso ut on the backdro of the basic institutional and regualtory background of capitlalist societies.

Regulation and economic forces are on everyone’s mind as we survey the landscape in our new post-industrial, post-bubble Great Recession.

So, I offer this longish article about Cass Sunstein, the Obama administration’s regulatory overseer described as a “radical minimalist.”

Given that the economic collapse is emphatically a regulatory failure, how will Sunstein use an office that was explicitly created to stymie regulation?

Sunstein may be more acutely living at the intersection of history and biography that Davis and Scott described (342).

Also, if you want some quick hits on what to do about the tax code, see this feature on Politico.com.

If you were God and could order one change in the American way of taxing, what would it be?

My answer in the comments.

Preventing Human Nature

While reading about the debacle and collapse of Enron, I find myself constantly drawing connections between the largest bankruptcy in U.S history, and the pending doom faced by our nation’s banks. Before the U.S began to expirience an economic downturn, both Enron, and our nations banking powerhouses, such as Citigroup, both strongly resisted government regulation. Instead, companies perfered a free market without government rules and regulations. Enron, and other companies during the late 90’s, stressed the importance of free market trading and deregulation, because quite simply, thats how the big bucks are made, and to Enron, thats all that really mattered. Although free markets create massive amounts of wealth, as we saw with Enron (and now our nations banking system), thay can also create huge problems. Continue reading

Useful graphic of Stimulus Bill

This is a useful graphic of the elements of the stimulus bill.

To see better, make your view larger by hitting ctrl + in Firefox.  Or, click on link above.

Death by Peanut Butter

In order to make the reading a little easier, I split my blog into two parts. First, there is a review of the article I found, followed by an analysis and connection to the prior class discussion and article…

Article Review:

As many of you know probably already know, there has recently been an outbreak of salmonella poisoning stemming from contaminated peanut butter from a manufacturer in Georgia.  The contamination has sparked what some experts project to be one of the largest recalls of food in US history. Because peanut butter and paste are used to make so many foods, the number of recalled items and the total bulk is enormous. To date, 500 people have been sickened, including four in Arkansas, and as many as 8 deaths may be linked to the outbreak.  The Justice Department and the FDA’s office of criminal investigation are attempting to investigate the manufacturer, Peanut Corp. of America, whose plant is located in Georgia. In recent investigations of the peanut manufacturing facilities, FDA inspectors found a roof leaking into the food area. In addition, pests and metal fragments were also found. The FDA claims Peanut Corp. found salmonella in products, but shipped them anyway, after a retest found no salmonella. In light of the recent outbreak, President Barrack Obama has ordered a complete review of the Food and Drug Administration because of the  “instances over the last several years” in which “the FDA has not been able to catch some of these things as quickly as I expect them to catch.” In an interview with Matt Lauer, President Obama stated, Continue reading