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Cynthia L. Estlund and Michael L. Wachter

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Edited by Cynthia L. Estlund and Michael L. Wachter

This Research Handbook assembles the original work of leading legal and economic scholars, working in a variety of traditions and methodologies, on the economic analysis of labor and employment law. In addition to surveying the current state of the art on the economics of labor markets and employment relations, the volume’s 16 chapters assess aspects of traditional labor law and union organizing, the law governing the employment contract and termination of employment, employment discrimination and other employer mandates, restrictions on employee mobility, and the forum and remedies for labor and employment claims.
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William W. Bratton and Michael L. Wachter

Chapter 20 re-interprets the ur-texts of modern disputes over CSR, the 1931–32 debates over corporate managers’ duties waged between Adolf A. Berle and Merrick Dodd in the pages of the Harvard Law Review. Today’s debates over CSR are often traced back to this exchange, with Berle seen as an early advocate of shareholder primacy and Dodd a precursor to stakeholder views of corporate law. Yet the authors here contend that Berle and Dodd argued against a shared background of assumptions concerning corporatism—the belief that politics should be organized around a limited number different groups to which individuals bear allegiance (e.g., labor unions or business associations), with the government setting priorities and coordinating activities among these groups. Corporatist views, alien to modern readers, united Dodd and Berle, and the ideology’s absence in today’s debates serves to distance Berle and Dodd from us, and block any easy link between them and today’s disputes in corporate law.