We the Shareholders: Government Market Participation in the Postliberal U.S. Political Economy

In the middle decades of the 20th century, government officials broadened access to the courts, placing public law more at the center of traditionally private disputes. They professionalized and regularized criminal justice, which previously had been a somewhat, if not significantly, privatized domain. They expanded and intensified industrial and financial regulation and enacted laws and rules to structure and discipline myriad commercial transactions and relationships. They assumed greater responsibility for funding and directing major infrastructure projects. And, to pay for all of this, they imposed steep and relatively progressive taxes.

By the last decades of the 20th century, critics expressing … Read more