![]() (13) It is an extremely colorful account, peppered with an array of cultural references and fascinating anecdotes. ![]() Icarus in the Boardroom is a historical analysis of corporate calamity that takes us to the beginning of the industrial era to study the periodic episodes of scandal that have roiled American business and stirred the federal government to action. Is there a lasting lesson buried amid the noise, or did we simply give in to cognitive biases causing us to rely excessively on narrative as opposed to statistical data and to weight bad news over good? (12) What, if anything, can we learn from the corporate scandals that we did not know before? And how should they shape the thinking of corporate leaders and policymakers going forward? These are the questions that Professor David Skeel of the University of Pennsylvania Law School addresses in Icarus in the Boardroom: The Fundamental Flaws in Corporate America and Where They Came From (hereinafter Icarus in the Boardroom). Now, several years later, it remains unclear what we ought to make of all of this. (9) Articles on corporate reform appeared regularly in newspapers and law reviews, (10) and prominent legal academics testified in Washington. Democrats and Republicans in Congress sought to blame the mess on each other, (7) the President pledged to get tough, (8) and the New York State Attorney General built a gubernatorial campaign out of combating corporate evil-doers. Here again, the recent corporate scandals did not disappoint. They provide politicians with ammunition to attack their opponents and assure commentators of a wealth of material over which to disagree. (6)īut perhaps most importantly, scandals are rhetorically useful. (4) Coming, as they did, in the midst of an economic downturn, they focused public attention on corporate governance and galvanized public opinion in favor of reform. The recent corporate scandals are no exception. (1) They focus public attention and galvanize public opinion. ![]() Icarus Effect Jurisprudence CONCLUSION INTRODUCTIONĮveryone loves a good scandal. Oxford and New York: Oxford University Press. ICARUS IN THE BOARDROOM: THE FUNDAMENTAL FLAWS IN CORPORATE AMERICA AND WHERE THEY CAME FROM. ![]()
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