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Political Determinants of Corporate GovernancePolitical Context, Corporate Impact$
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Mark J. Roe

Print publication date: 2006

Print ISBN-13: 9780199205301

Published to Oxford Scholarship Online: October 2011

DOI: 10.1093/acprof:oso/9780199205301.001.0001

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Backlash

Backlash

Chapter:
(p.116) Chapter 16 Backlash
Source:
Political Determinants of Corporate Governance
Author(s):

Mark J. Joe

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780199205301.003.0017

For some polities, productive arrangements generate a political backlash that can destroy the wealth produced in economic systems. When economic-based political turmoil is unlikely, American law and the economics implicit perspective of analysing the productive efficiency of an institution need not be modified. However, in some nations, turmoil had to be avoided. Their choice of corporate structure was one way of achieving social peace. The hard part in accounting for backlash is that while it is real, it is amorphous. One cannot readily measure it and model it with supply and demand curves. It is a matter of judgment calls.

Keywords:   political transformations, instability, political backlash, property rights, American institutions, social peace

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