Future Directions

As corporations expand their operations and markets into virtually all parts of the world, we must begin to develop a more consistent and coherent approach. To do that, we must, whenever possible, integrate the most important legislated standards with the realities of the economic laws, so that all incentives promote the priorities we agree on, without perverse incentives or unanticipated consequences. The law should be process oriented, not substantive. It should be focused on results, not structures. Structural requirements can always be subverted and too often even the best-intentioned of them end up impeding innovation. The focus should be on the relationships between the corporation and its constituents, to reduce conflicts of interes....