The mainstream economic theory that guides corporations in the US only works if markets are perfectly efficient. This flawed theory has led to corporate decision-making that centers shareholders above all else, including other stakeholders (e.g., workers), long-term business growth, and economic health. This shareholder-first ideology is referred to as “shareholder primacy,” which does not reflect

It has been ten years since the financial crisis dealt the biggest blow to the world economy since the Great Depression. While growth has returned, and the jobmarket  has by now tightened—especially in the United States, where the crisis originated—the reverberations of the crisis continue to affect us in ways both large and small, both obvious

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Rethinking Regulation

A more inclusive economy depends on an inclusive political process. Regulatory agencies are central institutions in economic policymaking, yet regulators remain vulnerable to undue political influence from established business and industry interests. How then can we reinvent regulation to be more accountable and responsive to the public at large? This white paper provides a progressive framework for addressing

This paper provides evidence that the strong empirical relationship of corporate cash flow and borrowing to productive corporate investment has disappeared in the last 30 years and has been replaced with corporate funds and shareholder payouts. Whereas firms once borrowed to invest and improve their long-term performance, they now borrow to enrich their investors in

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This white paper by Roosevelt Chief Economist Joseph Stiglitz outlines concrete policy measures that can restore equitable and sustainable economic growth in the United States, in the context of the country’s recurring budgetary crises. Effective policies are within our grasp because these budgetary crises are the result of political and not economic failings. Tax reform

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Poverty shapes the lives of an increasing number of American women and their families and has many consequences,including high rates of unintended pregnancy. Conservatives, eager to further dismantle federal programs and defeat the new Affordable Care Act (ACA), have recently rekindled the idea that marriage promotion will reverse rising rates of poverty, unintended pregnancy, and single parenthood. To

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This report provides a generalized cost-benefit analysis of a potential rule promulgated by the Securities and Exchange Commission (SEC) that would require public corporations to disclose corporate political spending. Existing evidence on both the dynamics of corporate political spending and the costs and benefits of SEC mandatory disclosure in general, as well as the use

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The Patient Protection and Affordable Care Act (ACA) represents an unprecedented expansion of the nation’s health care system and an historic investment in the health of American women and girls. The ACA has already improved the lives of millions and will make health care accessible for millions more as rollout continues this year and next. Fulfilling the

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This paper by Roosevelt Senior Fellow Thomas Ferguson, Paul Jorgensen, and Jie Chen analyzes patterns of industrial structure and party competition in the 2012 presidential election. The analysis rests on a new and more comprehensive campaign finance database that catches far more of the myriad ways businesses and major investors make political contributions than previous