Putting Technology to Good Use for Society: The Role of Corporate, Competition and Tax Law

42 Pages Posted: 27 Nov 2018

See all articles by John Armour

John Armour

University of Oxford - Faculty of Law; University of Oxford - Said Business School; European Corporate Governance Institute (ECGI)

Luca Enriques

University of Oxford Faculty of Law; European Corporate Governance Institute (ECGI)

Ariel Ezrachi

University of Oxford - Faculty of Law

John Vella

Oxford University Centre for Business Taxation; University of Oxford - Faculty of Law

Date Written: November 20, 2018

Abstract

Innovation and its main output, technology, are changing the way we work, socialise, vote, and live. New technologies have improved our lives and made firms more productive, overall raising living standards across the world. Thanks to progress in information technology, the rate of change is accelerating. Disruption and disequilibrium are the new normal. In this essay, prepared as a chapter for the first phase of the British Academy ‘The Future of the Corporation’ initiative, we reflect upon the role that corporate, competition and tax law can play both to facilitate innovation and simultaneously assuage emergent societal risks arising from new technologies. We consider means of enhancing investment in research and development (‘R&D’) and optimising corporate organisation. But we also reflect on the risks associated with innovation, such as the use of technology to exploit consumers, manipulate markets or distort, unwittingly or not, the political process. Finally, we consider the way in which the environment for business law reform is subject to new political risks following the challenge to the liberal order from populism and the rising power of dominant technology companies.

Keywords: Competition Policy, Compliance, Corporate Law, Digitalisation, Innovation, Populism, R&D, Smart Contracts, Technology, Takeover Law, Taxation

JEL Classification: K12, K22, G34, H20, L40

Suggested Citation

Armour, John and Enriques, Luca and Ezrachi, Ariel and Vella, John, Putting Technology to Good Use for Society: The Role of Corporate, Competition and Tax Law (November 20, 2018). European Corporate Governance Institute (ECGI) - Law Working Paper No. 427/2018; Oxford Legal Studies Research Paper No. 15/2019. Available at SSRN: https://ssrn.com/abstract=3287696 or http://dx.doi.org/10.2139/ssrn.3287696

John Armour

University of Oxford - Faculty of Law ( email )

St Cross Building
St Cross Road
Oxford, OX1 3UL
United Kingdom
+44 1865 281616 (Phone)

HOME PAGE: http://www.law.ox.ac.uk/people/john-armour

University of Oxford - Said Business School ( email )

Park End Street
Oxford, OX1 1HP
Great Britain

HOME PAGE: http://www.sbs.ox.ac.uk/about-us/people/john-armour

European Corporate Governance Institute (ECGI) ( email )

c/o ECARES ULB CP 114
B-1050 Brussels
Belgium

HOME PAGE: http://www.ecgi.org

Luca Enriques (Contact Author)

University of Oxford Faculty of Law ( email )

St Cross Building
St Cross Road
Oxford, OX1 3UL
United Kingdom

European Corporate Governance Institute (ECGI)

c/o ECARES ULB CP 114
B-1050 Brussels
Belgium

HOME PAGE: http:/www.ecgi.org

Ariel Ezrachi

University of Oxford - Faculty of Law ( email )

Oxford
United Kingdom

John Vella

Oxford University Centre for Business Taxation ( email )

Saïd Business School
Park End Street
Oxford, OX1 1HP
United Kingdom

HOME PAGE: http://www.sbs.ox.ac.uk/community/people/john-vella

University of Oxford - Faculty of Law ( email )

Mansfield Road
Oxford, Oxfordshire OX1 4AU
United Kingdom

HOME PAGE: http://www.law.ox.ac.uk/profile/john.vella

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