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SOSC 1520 9

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SOSC 1520 9.0 Markets & Democracy

Assignment 7

Reading: Ted Nace (2003). Gangs of America: The Rise of Corporate Power and the Disabling of Democracy (Oakland, California: Berrett-Koehler Publishers), chapter 12: “The revolt of the bosses”, pp. 162-179; chapter 13: “Speech = money”, pp. 180-190.

Weight: 5% of course grade

Assignment due: Friday, 12th November

The usual “instructions to students” from previous assignments apply to this one, too.

1) Which Congressional law prohibited labour unions from contributing money to candidates in federal elections and how did Political Action Committees (PACs) allow unions to circumvent this prohibition? (2 marks) (Word limit: 100)

2) In his discussion of the court case, First National Bank of Boston v. Bellotti (1978), Nace (2003, p. 188) writes: “The two sides in the Bellotti case reflected two distinct views about the essential nature of the corporation”. Referring to the section in which Nace discusses the Bellotti case, outline the two distinct views which divided the Supreme Court in its verdict on Bellotti. (3 marks) (Word limit: 250)

Hint: you will need to draw on Nace's full discussion of the Bellotti case on pages 186-188 if you are to answer this question well. And you should identify the different arguments brought by the dissenters in this case - there is more than one argument here.