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FCPA compliance and the social contract

Tom Fox | August 4, 2016

In a very interesting editorial piece for the Wall Street Journal, columnist William Galston discussed the negative attitude that most Americans have for corporations. Galston cited to a variety of reasons, including the financial crash of 2008 and the onset of the “Great Recession” the same year. Other factors included the outsourcing of U.S. jobs overseas, the explosion in CEO pay, and what Galston called the breach of the “social compact” between citizens and its corporations, where “people are willing to give big business substantial latitude to chart its own course. In return, business leaders are expected to give due weight to the interests of the people, including not only the businesses’ employees but also the citizens of the communities whose well-being the leaders’ decisions affect.” Such pact has been shattered by the actions of many companies.

Of the many...

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