The politics of business have become the business of politics.
Across the world the lesson is clear: just as too much governmental
interference leads to dysfunctional economies, left to its own
devices the market is incapable of adequate self-regulation.
The corporate malfeasance crisis in the United States has
transformed global perceptions about the efficacy of regulatory
structures in combating corrupt practices in private and public
sectors. The design of effective corporate governance structures
depends not just on internal factors but also on the
inter-relationship between various actors that constitute wider
governance: politicians, lobbyists, corporations and
regulators.
"Wall Street on Trial: " "A Corrupted State" breaks new ground
by deconstructing the systemic flaws inherent in the model itself.
It reveals that the 'rotten apple' theory, positing the problems in
corporate America as merely the result of deviancy by an individual
or a single firm, is an intellectual deceit not supported by the
facts.
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