Comments for Rethinking Markets http://www.rethinkingmarkets.org Economic Sociology from the Ground Up Fri, 30 Sep 2011 15:24:01 +0000 hourly 1 http://wordpress.org/?v=3.3.1 Comment on delicious meat by brayden http://www.rethinkingmarkets.org/2011/09/30/delicious-meat.html#comment-1163 brayden Fri, 30 Sep 2011 15:24:01 +0000 http://www.rethinkingmarkets.org/?p=1384#comment-1163 I love that. Thanks. I love that. Thanks.

]]> Comment on Supreme Court rules for Wal-Mart by Peter http://www.rethinkingmarkets.org/2011/06/20/supreme-court-rules-for-wal-mart.html#comment-1023 Peter Tue, 21 Jun 2011 10:03:34 +0000 http://www.rethinkingmarkets.org/?p=1378#comment-1023 I think we've long passed the time when any of the Supreme Court members had any <em>legal</em> principles that bore too much on their tenure. Or rather, maybe it's just that legal principles have aligned so completely with political ones that the latter now substitue for the former. SCOTUS is now like a collective Alan Greenspan. No one should treat their decisions as legally principled. Or deserving of any special treatment or deference. As Harry Reid once (100% correctly) said of Greenspan while he was still widely considered "above partisan criticism, a figure celebrated by many as a wise and evenhanded guardian of the economy whose public pronouncements not only move markets but also greatly influence policy debates" (<a href="http://www.washingtonpost.com/wp-dyn/articles/A5396-2005Mar3.html" rel="nofollow">WaPo</a>), they are simply political hacks. I think we’ve long passed the time when any of the Supreme Court members had any legal principles that bore too much on their tenure. Or rather, maybe it’s just that legal principles have aligned so completely with political ones that the latter now substitue for the former.

SCOTUS is now like a collective Alan Greenspan. No one should treat their decisions as legally principled. Or deserving of any special treatment or deference. As Harry Reid once (100% correctly) said of Greenspan while he was still widely considered “above partisan criticism, a figure celebrated by many as a wise and evenhanded guardian of the economy whose public pronouncements not only move markets but also greatly influence policy debates” (WaPo), they are simply political hacks.

]]> Comment on Supreme Court rules for Wal-Mart by Jay Livingston http://www.rethinkingmarkets.org/2011/06/20/supreme-court-rules-for-wal-mart.html#comment-1022 Jay Livingston Mon, 20 Jun 2011 23:37:25 +0000 http://www.rethinkingmarkets.org/?p=1378#comment-1022 I used to think that Scalia (and his little dog, too) actually had principles --original intent, deferring to legislatures and states, etc. -- that he held to regardless of outcome. Bush v. Gore pretty much put a stake into the heart of my naivete. <i>Cui bono, baby, <i>cui bono. I used to think that Scalia (and his little dog, too) actually had principles –original intent, deferring to legislatures and states, etc. — that he held to regardless of outcome. Bush v. Gore pretty much put a stake into the heart of my naivete. Cui bono, baby, cui bono.

]]> Comment on The empirical erosion of our theoretical models by brayden http://www.rethinkingmarkets.org/2011/04/13/the-empirical-erosion-of-our-theoretical-models.html#comment-931 brayden Mon, 18 Apr 2011 18:41:18 +0000 http://www.rethinkingmarkets.org/?p=1347#comment-931 Yeah, I'd agree with you on that. On the financial side, publicly-traded corporations may be becoming less common. I'm probably, because of the nature of my work and also because of my political interest in free speech issues, am more interested in the legal aspect of this. I think this is where James Coleman turns out to be one of the most underappreciated org theorists of all time. Yeah, I’d agree with you on that. On the financial side, publicly-traded corporations may be becoming less common. I’m probably, because of the nature of my work and also because of my political interest in free speech issues, am more interested in the legal aspect of this. I think this is where James Coleman turns out to be one of the most underappreciated org theorists of all time.

]]> Comment on The empirical erosion of our theoretical models by Peter http://www.rethinkingmarkets.org/2011/04/13/the-empirical-erosion-of-our-theoretical-models.html#comment-928 Peter Wed, 13 Apr 2011 20:44:45 +0000 http://www.rethinkingmarkets.org/?p=1347#comment-928 Well, there are two things that you're talking about: the corporate form and the public financing of corporations. That is, management and the stock market. So management, power, legal structure, perhaps. On the other hand, I think Salmon is convincing on the evidence of the decline of 'going public' as a means of allocating capital to for-profit business ventures (e.g., his discussion of <a href="http://blogs.reuters.com/felix-salmon/2011/04/12/how-secondmarket-works/" rel="nofollow">SecondMarket</a>, a new "exchange" (in part) for privately-held shares of stock. This, along with the growth of private equity - and traditional finance players getting into that game - and venture capital all conspire to reduce the number of companies going public. So, theories of the corporation still get at the management/functioning of firms. But perhaps what's happening is a fragmentation of 'corporations.' Where in the past, the implication was that firms get big, go public to get 'real' financing, etc., now they may or may not do that. Good for org theory that relies essentially on Bearle and Means (1932), but only sort of, and not really. Well, there are two things that you’re talking about: the corporate form and the public financing of corporations. That is, management and the stock market. So management, power, legal structure, perhaps. On the other hand, I think Salmon is convincing on the evidence of the decline of ‘going public’ as a means of allocating capital to for-profit business ventures (e.g., his discussion of SecondMarket, a new “exchange” (in part) for privately-held shares of stock. This, along with the growth of private equity – and traditional finance players getting into that game – and venture capital all conspire to reduce the number of companies going public.

So, theories of the corporation still get at the management/functioning of firms. But perhaps what’s happening is a fragmentation of ‘corporations.’ Where in the past, the implication was that firms get big, go public to get ‘real’ financing, etc., now they may or may not do that. Good for org theory that relies essentially on Bearle and Means (1932), but only sort of, and not really.

]]> Comment on The empirical erosion of our theoretical models by brayden http://www.rethinkingmarkets.org/2011/04/13/the-empirical-erosion-of-our-theoretical-models.html#comment-927 brayden Wed, 13 Apr 2011 19:09:38 +0000 http://www.rethinkingmarkets.org/?p=1347#comment-927 I'm not sure that the public corporation is in decline. Sure, the purposes that the corporate form serves have changed (bye bye industrialism, in the U.S. anyway), but the number of corporations continues to be quite high and it continues to serve the same basic (and important) legal function that it once did. Corporate actors are no less powerful or prominent in our society than they used to be. Nonprofits continue to use them, and so much of our voluntary action tends to be filtered through the corporate form. I think we need better theories of the corporation - theories that account for the changing purpose of corporations and that better account for their content -, not theories of something else. I’m not sure that the public corporation is in decline. Sure, the purposes that the corporate form serves have changed (bye bye industrialism, in the U.S. anyway), but the number of corporations continues to be quite high and it continues to serve the same basic (and important) legal function that it once did. Corporate actors are no less powerful or prominent in our society than they used to be. Nonprofits continue to use them, and so much of our voluntary action tends to be filtered through the corporate form.

I think we need better theories of the corporation – theories that account for the changing purpose of corporations and that better account for their content -, not theories of something else.

]]> Comment on Organizational Jurisdiction, or Apple’s iPhone Breast Problem by Jenn http://www.rethinkingmarkets.org/2011/01/31/organizational-jurisdiction-or-apples-iphone-breast-problem.html#comment-642 Jenn Tue, 01 Feb 2011 22:42:10 +0000 http://www.rethinkingmarkets.org/?p=1337#comment-642 If I were you, I'd be more worried about the anti-breast-feeding lobby. Or the pro-Thrush lobby? If I were you, I’d be more worried about the anti-breast-feeding lobby. Or the pro-Thrush lobby?

]]> Comment on Organizational Jurisdiction, or Apple’s iPhone Breast Problem by Peter http://www.rethinkingmarkets.org/2011/01/31/organizational-jurisdiction-or-apples-iphone-breast-problem.html#comment-611 Peter Mon, 31 Jan 2011 17:30:37 +0000 http://www.rethinkingmarkets.org/?p=1337#comment-611 Yes, it's Breast Monday. I'm bracing for all the porn spam about to hit my site because of it... Yes, it’s Breast Monday. I’m bracing for all the porn spam about to hit my site because of it…

]]> Comment on Organizational Jurisdiction, or Apple’s iPhone Breast Problem by Jenn http://www.rethinkingmarkets.org/2011/01/31/organizational-jurisdiction-or-apples-iphone-breast-problem.html#comment-610 Jenn Mon, 31 Jan 2011 16:38:26 +0000 http://www.rethinkingmarkets.org/?p=1337#comment-610 Totally not your point, but funny that your post and the following arrived in my RSS feed in the same re-load: http://condor.depaul.edu/mwilson/extra/multicultur/nora.htm Totally not your point, but funny that your post and the following arrived in my RSS feed in the same re-load:

http://condor.depaul.edu/mwilson/extra/multicultur/nora.htm

]]> Comment on Filed without comment, student exam edition by Tweets that mention Filed without comment, student exam edition – Rethinking Markets -- Topsy.com http://www.rethinkingmarkets.org/2011/01/18/filed-without-comment-student-exam-edition.html#comment-427 Tweets that mention Filed without comment, student exam edition – Rethinking Markets -- Topsy.com Tue, 18 Jan 2011 13:52:38 +0000 http://www.rethinkingmarkets.org/?p=1330#comment-427 [...] This post was mentioned on Twitter by Laurence WilseSamson. Laurence WilseSamson said: Filed without comment, student exam edition http://j.mp/ifDJfO [...] [...] This post was mentioned on Twitter by Laurence WilseSamson. Laurence WilseSamson said: Filed without comment, student exam edition http://j.mp/ifDJfO [...]

]]>