Economics, Capitalism, and Corporations

Offering an in-depth analysis of the theory of the firm, this book argues that the theory of the firm has no validity in law. It corrects the mistaken belief of the relationship of property law and agency law to corporate law, and the relationship of corporate law to economics.

This book is a continuation of Corporate Law and the Theory of the Firm: Reconstructing Corporations, Shareholders, Directors, Owners, and Investors. The author extends his analysis of contract law, property law, agency law, trust law, and corporate statutory law and applies that analysis to defy conventional concepts and theories in economics, finance, investment, and accounting and expose the artificial boundaries established by decades of research founded on indefensible assumptions and fallacious conclusions.

Using the Humpty Dumpty principle, where words mean what the authors want them to mean, economists have created "strange new worlds" where contract law, property law, agency law, and corporate statutory law no longer apply.

The author dismantles the theory of the firm by proving the theory of the firm wilfully and intentionally ignores fundamental contract law, property law, agency law, and corporate statutory law. Contrary to the theory of the firm, shareholders do not own corporations, directors are not agents of shareholders, and shareholders are not investors in corporations.

The author proves that by property law and corporate law, capital is not privately owned by capitalists but by corporations. Entire economic and social systems have been constructed that have no basis in law. With the advent of publicly traded corporations, the capital is there, but both capitalists and capitalism have been rendered extinct.

This book will appeal to researchers and graduate and upper-level undergraduate students in economics, finance, accounting, law, and sociology, as well as legal scholars, attorneys and accountants.

Autorentext

Wm. Dennis Huber received a DBA in international business, accounting, nance, and economics from the University of Sarasota, Florida; a JD, an MBA in accounting and nance, an MA in economics, an Ed.M., and an MS in public policy, and a BA in sociology and psychology from the State University of New York at Bualo. He also has an LL.M. in homeland and national security law from the Western Michigan University Thomas M. Cooley School of Law. He is a certied public accountant and admitted to the New York Bar. He has taught at universities in the U.S., Canada, Mexico, and the Middle East.

Klappentext

This book is a continuation of Corporate Law and the Theory of the Firm: Reconstructing Corporations, Shareholders, Directors, Owners, and Investors. The author extends his analysis of contract law, property law, agency law, trust law, and corporate statutory law and applies that analysis to defy conventional concepts and theories in economics, finance, investment, and accounting and expose the artificial boundaries established by decades of research founded on indefensible assumptions and fallacious conclusions. Using the Humpty Dumpty principle, where words mean what the authors want them to mean, economists have created "strange new worlds" where contract law, property law, agency law, and corporate statutory law no longer apply. The author dismantles the theory of the rm by proving the theory of the firm wilfully and intentionally ignores fundamental contract law, property law, agency law, and corporate statutory law. Contrary to the theory of the firm, shareholders do not own corporations, directors are not agents of shareholders, and shareholders are not investors in corporations. The author proves that by property law and corporate law, capital is not privately owned by capitalists but by corporations. Entire economic and social systems have been constructed that have no basis in law. With the advent of publicly traded corporations, the capital is there, but both capitalists and capitalism have been rendered extinct. This book will appeal to researchers and graduate and upper-level undergraduate students in economics, nance, accounting, law, and sociology, as well as legal scholars, attorneys and accountants.

Inhalt

Prologue 1. Review of Corporations and Corporate Law, Contract Law, Property Law, Agency Law, and Trust Law Part I Corporations, Owners of Shares and Investors in Shares: Economic, Finance, Investment, and Accounting Considerations 2. Corporations and Economic Considerations 3. Corporations and Finance Considerations: Corporations, Owners of Shares, and Investors in Shares 4. Corporations and Investment Considerations: Corporations, Owners of Shares, and Investors in Shares 5. Corporations and Accounting Considerations: Corporations, Owners of Shares, and Investors in Shares PART II The Nature of the Firm and Theory of the Firm 6. The Nature of the Firm 7. The Theory of the Firm PART III Capital, Capitalism, and the Communist Manifesto 8. Capital 9. Capitalism 10. Marx: Capital, Capitalism, Capitalists, Corporations, and the Communist Manifesto Part IV The Contradictions of Economics and Corporate Law 11. Review of the Contradictions of Corporate Law 12. Contradictions of Corporate Law, Economics, Finance, Investment, Accounting, and the Theory of the Firm Epilogue