This paper revisits the concept of entrepreneurship, which is frequently neglected in mainstream economics, and discusses the importance of defining and isolating this concept in the context of large, publicly held companies. Compensating for entrepreneurial services in such companies, ex ante...

Under a 2011 court decision known as Business Roundtable v. SEC, many Securities and Exchange Commission rules must pass a rigorous cost-benefit test to be in compliance with the new Dodd-Frank finance legislation. The SEC has recently released a memo outlining what is required to comply with...

This Article briefly reexamines the great debates on the role of insider trading in the corporate system from the perspectives of efficiency of capital markets, harm to individual investors, and executive compensation. The focus is on the mystery of why trading by all kinds of insiders as well...

The essay begins with a brief history of various economics discoveries which were thought to destroy the credibility of the standard neoclassical paradigm. In each case the author shows how the standard paradigm parried the attack and co-opted the parts of the new criticisms that were worthwhile...