This book is a continuation of Corporate Law and the Theory of the
Firm: Reconstructing Corporations, Shareholders, Directors, Owners,
and Investors. The author extends his analysis of contract law,
property law, agency law, trust law, and corporate statutory law
and applies that analysis to defy conventional concepts and
theories in economics, finance, investment, and accounting and
expose the artificial boundaries established by decades of research
founded on indefensible assumptions and fallacious conclusions.
Using the Humpty Dumpty principle, where words mean what the
authors want them to mean, economists have created "strange new
worlds" where contract law, property law, agency law, and corporate
statutory law no longer apply. The author dismantles the theory of
the firm by proving the theory of the firm wilfully and
intentionally ignores fundamental contract law, property law,
agency law, and corporate statutory law. Contrary to the theory of
the firm, shareholders do not own corporations, directors are not
agents of shareholders, and shareholders are not investors in
corporations. The author proves that by property law and corporate
law, capital is not privately owned by capitalists but by
corporations. Entire economic and social systems have been
constructed that have no basis in law. With the advent of publicly
traded corporations, the capital is there, but both capitalists and
capitalism have been rendered extinct. This book will appeal to
researchers and graduate and upper-level undergraduate students in
economics, finance, accounting, law, and sociology, as well as
legal scholars, attorneys and accountants.
General
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