Between Freedom and Democracy
Michael C. Jensen
Harvard Business School; Social Science Electronic Publishing (SSEP), Inc.; National Bureau of Economic Research (NBER); European Corporate Governance Institute (ECGI)
William H. Meckling
Simon School, University of Rochester (Deceased)
October 30, 1977
The Banker, pp. 39-49, October 1977
Harvard Business School NOM Unit Working Paper No. 1977
Is there a fundamental conflict between a political democracy as we know it and a free market, private enterprise or capitalist system? William Meckling and Michael Jensen of the University of Rochester, New York, believe that indeed there is, and that it is only a matter of time before the political sector eliminates most of the freedoms we still enjoy in the private sector of the economy.
The first part of this study, contributed by Michael Jensen, describes the gradual destruction of individuals" rights and the attack on business corporations; the second part, by William Meckling, discusses why freedom is being destroyed, how the press helps governments to destroy it, and what can be done to stop it.
Number of Pages in PDF File: 22
Keywords: rights, freedom, free market, private enterprise, political democracy, human rights, property rights, co-determination lawsAccepted Paper Series
Date posted: November 30, 2003 ; Last revised: January 17, 2011
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