April 20, 2007

It's an irony worth cherishing that the New York Times's business section (which sometimes can come across as an editorial page dressed up as a business section) has decided to promote as its favorite cause "shareholder democracy" in its most simplistic form, even as the number one example of the blatant flouting of shareholder-democracy principles remains...the New York Times Company itself, with its Class A and Class B stock. Larry Ribstein here and here, and Prof. Bainbridge here, offer different takes on this paradox.