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External Commentaries and Background Articles
"A Valentine to Globalization" FOXNews Article Date: February 13, 2003
By Radley Balko
The profit motive and globalization, not protests, work to make communities and people better off.
Posted: 2/18/2003
"Accounting at Energy Firms after Enron: Is the “Cure” Worse Than the ‘Disease’?" Cato Policy Analysis, No. 469 Article Date: Feb. 12, 2003
By Richard Bassett and Mark Storrie
The authors argue that debt and equity markets had seen through Enron's machinations well before accountants and regulators did. Yet politicians, in attempting to strengthen the institutions that failed in their jobs, are likely to weaken the institutions that succeeded.
Posted: 5/12/2003
"A Virtuous Cycle" Forbes Article Date: December 23, 2002
By James Surowiecki
Despite recent unethical dealing by some businessmen, business has been
responsible, historically, for increases in ethical standards, trust, and
humanitarianism.
Posted: 12/17/2002
"Wall Street Fine Tracker" Forbes Article Date: December 3, 2002
By Art Weinberg
A listing of all the fines and settlements of $1 million or more handed down
to public financial services companies over the past two years.
Posted: 12/13/2002
"Pitt Falls, Now What?" Tech Central Station Article Date: November 7, 2002
By James K. Glassman
The next head of the SEC should enforce anti-fraud laws strenuously;
encourage private oversight of corporate-governance issues not involving
fraud; and give America’s fifty million stockholders a realistic picture of
what economic freedom does and does not guarantee.
Posted: 11/20/2002
"Atlas Mugged" Forbes Magazine Article Date: October 28, 2002
By Rich Karlgaard
The new laws and regulations will make it more difficult for entrepreneurs
to innovate.
Posted: 10/21/2002
"In Defense of the Boom" New York Times Sunday Magazine Article Date: October 27, 2002
By Michael Lewis
A defense of the Internet boom for its entrepreneurial creativity and a
critique of the journalists, politicians, and financial establishment for
their new-found hostility it.
Posted: 10/29/2002
"Auditors Say U.S. Agencies Lose Track of Billions" New York Times Article Date: Oct. 13, 2002
By Joel Brinkley
In assessing corporate auditing problems, and government regulations proposing to improve the situation, it’s worth keeping in mind the hopeless condition of the government’s own financial accounts.
Posted: 10/18/2002
"Financial Statement Restatements: Trends, Market Impacts, Regulatory
Responses, and Remaining Challenges (PDF)" General Accounting Office, United
States Government Article Date: October 4, 2002
The GAO's report conveys the conventional wisdom about earnings restatements
and their effects, but it also discusses contrary views and has useful
statistical data.
Posted: 11/11/2002
"Picking On Perks" Cato Institute/Creators Syndicate Article Date: September 19, 2002
By Alan Reynolds
Reynolds puts the flap over former General Electric chief Jack Welch’s retirement income into perspective: the astounding value Welch created during his tenure at GE
Posted: 10/18/2002
"Attorneys Find Jury Pools
Tainted by Antibusiness Bias" The Wall Street Journal Article Date: August 12, 2002
By Michael Orey Milo Geyelin
Lawyers for criminal defendants have long tried to detect jury-pool bias
against members of the underclass. Today, tawyers defending corporate
clients must try to detect bias against businessmen, whether derived from
the potential juror's stock-market losses or the overwhelming media
hostility toward business.
Posted: 11/11/2002
"What's the Right Number?" Cato Institute Article Date: August 1, 2002
By Richard W. Rahn
A business economist explains in common sense terms why accounting involves the exercise of judgment, and should not be criminalized.
Posted: 10/18/2002
"Stigmatizing Business" Washington Post Article Date: July 17, 2002
By Andrew S. Grove
The CEO of Intel compares the current anti-business sentiment to the attitudes he grew up with in communist Hungary.
Posted: 10/18/2002
"Reform Stampede" New York Post Article Date: July 17, 2002
By Robert Samuelson
“The main problem of the bull market was reckless investing, not reckless accounting. People made bad decisions because they were gullible or greedy, not because they had bad information.”
Posted: 10/18/2002
"Lessons from WorldCom -- Greater Market Discipline Is Needed" Consumer
Alert Article Date: July 2002
By Frances B. Smith
The case against more government regulation, from the pro-capitalist
consumer advocate organization.
Posted: 10/18/2002
"A Preliminary Perspective on the Major Policy Lessons from the Collapse of Enron" Cato Institute Article Date: July 2002
By William A. Niskanen
A top economist gives an initial assessment of issues in the corporate accounting scandals.
Posted: 10/18/2002
"CEO Pay: Big Bosses & Paychecks" Forbes Magazine Article Date: April 23, 2002
This site collects data on CEO compensation for the Fortune 500, with analyses relating pay to company performance
Posted: 10/18/2002
These commentaries are from external websites not affiliated with The Objectivist Center. We are not indicating agreement or disagreement with what these writers wrote, but think that their views are important in understanding the full issue. The background articles set the context by providing key historical information and description.
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