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Ethics, Economics and Insider Trading: Ayn Rand Meets the Theory of the Firm
Macey, Jonathan
Macey, Jonathan
Abstract
The practice of insider trading has been met with excoriation by members of the legal community, who view it as a paradigmatic case of the unethical abuse of power by corporate officers and directors. Those of us who pray for a less impassioned and more focused treatment of the subject have ridiculed the shallowness and the moral fervor of the majority, who Mr. Lawson in his article The Ethics of Insider Trading describes succinctly as "foot-stampers."