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ID: 121050

American corporation / Gomory, Ralph; Sylla, Richard

Gomory, Ralph	Journal Article
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2013.

Summary/Abstract

The United States from its earliest years led the world in making the corporate form of business organization widely available to entrepreneurs. Starting in the 1790s, corporations became key institutions of the American economy, contributing greatly to its remarkable growth. This essay reviews the evolution of corporations across several eras of the country's history. The most recent era is marked by a shift away from a stakeholder view of corporate interests and purposes to one dominated by profit and shareholder-value maximization. We strongly question whether this shift has been beneficial to the country as a whole. If our assessment is correct, there is a need to find ways of inducing corporations to act in ways that produce better societal outcomes. We therefore explore ways - including some suggested by the history of U.S. corporations - in which corporate interests and the public interest might become better aligned.

Key Words

United States ; American Economy ; Business Organization ; Remarkable Growth ; Societal Outcomes

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ID: 132694

Network expansion by a proactive transmission system operator: a case study / Groppi, Angelamaria; Fumagalli, Elena

Fumagalli, Elena	Journal Article
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Publication

2014.

Summary/Abstract

Complex planning procedures often amplify the difference in investment time between generation and transmission. In this work we consider a transmission project in Italy and, relying on a recently proposed methodology, we compare costs and benefits of anticipating the planning process before the connection of new power plants becomes certain. Whereas the system faces lower congestion costs if the network is reinforced immediately, anticipation constitutes a sunk cost in case generation is not built. For realistic load and generation scenarios, anticipation costs, as well as differences in investment times, our results indicate that anticipation is the most efficient choice for a relatively low connection probability. Analyses of this sort are particularly relevant in light of the increasing complexity of public engagement processes and of the remarkable growth in renewable generation.

Key Words

Economic Growth ; Anticipation ; Remarkable Growth ; Social Growth ; Power Transmission ; Transmission Network ;
Investment Planning ; Public Engagement Processes - PEP ; Economic Policy

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