UNTAMED
How to Check Corporate, Financial, and Monopoly Power
1
A roosevelt institute REPORT Edited By
Nell Abernathy, MIKE KONCZAL & Kathryn Milani
JUNE 2016
UntamedHow to Check Corporate, Financial, and Monopoly Power
Acknowledgments
THIS REPORT WAS EDITED BY
Nell Abernathy,
Vice President of Research and Policy, Roosevelt Institute
Mike Konczal,
Fellow, Roosevelt Institute
Kathryn Milani,
Program Manager, Roosevelt Institute
CONTRIBUTING EDITORS
Eric Harris Bernstein,
Senior Program Associate, Roosevelt Institute
Tim Price,
Editorial Director, Roosevelt Institute
ADVISOR
Joseph E. Stiglitz,
Chief Economist, Roosevelt Institute
WITH CONTRIBUTIONS FROM
Saqib Bhatti,
ReFund America Project, Roosevelt Institute
Kimberly Clausing,
Reed College
Devin Duffy,
Roosevelt Institute
Renée Fidz,
Graphic Designer, Roosevelt Institute
Susan Holmberg,
Fellow & Research Director, Roosevelt Institute
Lina Khan,
Yale Law School, New America
J.W. Mason, John Jay College-CUNY, Roosevelt Institute Amanda Page-Hoongrajok,
Research Assistant, UMass Amherst
Lenore Palladino,
Roosevelt Institute
K. Sabeel Rahman,
Brooklyn Law School, Roosevelt Institute, New America
Steven Rosenthal Alan Smith,
Roosevelt Institute
SPECIAL THANKS TO REVIEWERS
*in alphabetical order
Hunter Blair,
Economic Policy Institute
Lisa Donner,
Americans for Financial Reform
Amy Elliot,
Tax Analysts
Barry C. Lynn,
New America
David Min,
University of California, Irvine School of Law
Bart Naylor,
Public Citizen
Morgan Ricks,
Vanderbilt Law School
Marcus Stanley,
Americans for Financial Reform
Graham Steele,
U.S. Senate Committee on Banking, Housing, and Urban Affairs
Martin A. Sullivan,
Tax Analysts
Todd TuckerSandeep Vahaseen,
American Antitrust Institute
Danny Yagan,
University of California, Berkeley
Eric Zwick,
University of Chicago
Owen Zidar,
University of Chicago
Additional thanks to Roosevelt staff and consultants for their support and contributions:
Hannah Assadi, Johanna Bonewitz, Amy Chen, Brenna Conway, Samantha Diaz, Andrea Flynn, Monica Gonzalez, Chris Linsmayer, Gabriel Matthews, Marcus Mrowka, Dave Palmer, Camellia Phillips, Marybeth Seitz-Brown, Alexandra Tempus, and Dorian Warren.
This report was made possible with generous support from the Arca Foundation, the Ford Foundation, the Ewing Marion Kauffman Foundation, and the Open Society Foundations.
The views expressed in this report are solely those of the authors and editors and do not reflect those of the Roosevelt Institute or its board or officers, nor the views of the institutions or individuals thanked here.
Table of Contents
Introduction
...................................................
6
Nell Abernathy, Mike Konczal,
and Kathryn Milani,
Roosevelt Institute
Racial Justice and This Agenda
.....................
12
Mike Konczal,
Roosevelt Institute
Section I: Taming the Corporate Sector
.........
16
Restoring Competition in the U.S. Economy
.......................
18
K. Sabeel Rahman,
Brooklyn Law School, Roosevelt Institute, New America
Lina Khan,
Yale Law School, New America
Restructuring the Tax Code for Fairness and Efficiency
............
26
Capital Taxation
by Steven Rosenthal
Multinational Taxation
by Kimberly Clausing,
Reed College
Passthrough Taxation
by Eric Harris Bernstein,
Roosevelt Institute
Dealing with the Trade Deficit
....................................
34
J.W. Mason,
John Jay College-CUNY, Roosevelt Institute
Section II: Taming the Financial Sector
.........
40
Tackling Too Big to Fail
...........................................
42
Mike Konczal,
Roosevelt Institute
Reining in the Shadow Banking System
...........................
48
Kathryn Milani,
Roosevelt Institute
Curbing Short-Termism
...........................................
56
Mike Konczal and Kathryn Milani,
Roosevelt Institute
Safeguarding Fairness in Public Finance
..........................
62
Saqib Bhatti,
ReFund America Project, Roosevelt Institute
and Alan Smith,
Roosevelt Institute
Section III: Fixing the Regulatory State
.........
68
The Levers of the Executive
.......................................
69
Devin Duffy,
Roosevelt Institute
Kathryn Milani,
Roosevelt Institute
Lenore Palladino,
Roosevelt Institute
K. Sabeel Rahman,
Brooklyn Law School, Roosevelt Institute, New America
Conclusion
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76
