“Two prominent progressive senators, Bernie Sanders and Elizabeth Warren, have recently proposed that employees should be allowed to elect forty to forty-five percent of the directors of large corporations. If implemented, such a reform would bring US corporate law substantially closer to European countries like Denmark, Germany, and Sweden, where worker codetermination has long been a central feature of corporate governance. An extensive body of theoretical and empirical scholarship analyzes codetermination’s economic impact on corporations and their employees. This Article focuses on a different issue. It examines codetermination’s potential for protecting our democracy against the dangers inherent in the accumulation of extreme wealth and power by private corporations …”
Jens Dammann and Horst Eidenmüeller, Corporate Law and The Democratic State 2022 University of Illinois Law Review 963 (11 June).
First posted 2022-06-13 17:15:27
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