In the wake of worldwide economic turmoil and efforts toward recovery, understanding the interdependence of government and business is more important than ever. In this thoroughly updated edition, Lehne takes a comparative approach, evaluating the U.S. political economy with respect to those of Great Britain, Germany, Japan, and the EU. The book provides detailed historical context for, and a conceptual understanding of, the business-government environment, and then clarifies the roles of the major actors and outlines the regulatory and policy frameworks. Along the way, Lehne probes some of the most crucial dilemmas facing government and business today. Updates to this edition include: • expanded coverage of ethics as it relates to government and business; • greater attention to China in particular in the feature boxes on developing nations; and • a look at relations between government and business at the subnational level. A comprehensive glossary and chapter summaries enhance student learning.

Corporate Governance and Public Responsibility

Corporate governance and public responsibility

Two events since the start of the twenty-first century have reshaped the public perception of corporate America. First, executives of the Enron company triggered what was then the largest bankruptcy in the nation's history when they covered up the firm's deteriorating financial situation, looted its assets, and left employees and investors to deal with the rubble.1 The Enron collapse kicked off a series of scandals that gnawed away at public confidence in corporate America. Officials in the telecom giant WorldCom-MCI confessed to falsifying $11 billion in financial records and perpetrating the largest accounting fraud on record. Senior managers of Adelphia, a cable system operator, were convicted of plundering that company's assets and misleading regulators; the ...

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