Abstract

http://ssrn.com/abstract=926409
 
 

Footnotes (345)



 


 



A Jeffersonian Republic by Hamiltonian Means: Values, Constraints & Finance in an Authentic American Ownership Society


Robert C. Hockett


Cornell University - Law School


Southern California Law Review, Vol. 79, p. 45, 2006
Cornell Legal Studies Research Paper No. 06-025
Cornell Law Forum, Vol. 32, pp. 2-12, 2005

Abstract:     
This article, the second in a trilogy, interprets American ownership-spreading programs past and present under the aspect of a comprehensive theory of "the American ownership society" (OS) developed in its predecessor article, titled Whose Ownership? Which Society? It also identifies what appears to be a significant gap in our efforts to become a comprehensive OS thus far.

By early in the 20th century, we had developed and implemented a number of highly innovative and successful programs dedicated to the task of spreading human and nonhuman capital (in the form of arable land in particular) quite broadly. Since about the 1930s, however, small-parceled land has receded in importance as a form of nonhuman capital such as can underwrite productive autonomy; and we now lack the land to dole out in that fashion in any event. To complete our OS in the manner that we began to do seriously in the late 19th century, we must turn to the prospect of spreading the ownership of business firms. Our home-spreading and education-spreading programs have modernized over the course of the later 20th and early 21st centuries in tandem with the modernization of finance technologies. Our share-spreading programs have not.

The article accordingly surveys and preliminarily assesses some early proposals to spread shares in firms by means analogous to those employed to spread homes and educations. In doing so it also looks ahead to its sequel, which is devoted to updating those early proposals in a manner more sober than that of the earlier proposers.

Number of Pages in PDF File: 121

Accepted Paper Series





Download This Paper

Date posted: September 27, 2006  

Suggested Citation

Hockett, Robert C., A Jeffersonian Republic by Hamiltonian Means: Values, Constraints & Finance in an Authentic American Ownership Society. Southern California Law Review, Vol. 79, p. 45, 2006; Cornell Legal Studies Research Paper No. 06-025; Cornell Law Forum, Vol. 32, pp. 2-12, 2005 . Available at SSRN: http://ssrn.com/abstract=926409

Contact Information

Robert C. Hockett (Contact Author)
Cornell University - Law School ( email )
524 College Ave
Myron Taylor Hall
Ithaca, NY 14853
United States
Feedback to SSRN


Paper statistics
Abstract Views: 1,817
Downloads: 111
Download Rank: 149,993
Footnotes:  345

© 2014 Social Science Electronic Publishing, Inc. All Rights Reserved.  FAQ   Terms of Use   Privacy Policy   Copyright   Contact Us
This page was processed by apollo7 in 0.250 seconds