4 ms·
I wonder whether we need a different presumption of executive responsibility in these cases. Plausible deniability seems way too weak a defense to permit, sinc
by rbarooah 15y ago
I wonder whether we need a different presumption of executive responsibility in these cases. Plausible deniability seems way too weak a defense to permit, since it allows executives to set up a culture and incentives to encourage wrongdoing and yet walk away from the consequences if they weren't directly informed of the specific actions taken.
In a away it's analogous to the 'it wasn't me, it was the algorithm' defense - 'it wasn't me, it was my employees'.
This doesn't mean that executives should necessarily be held personally liable for the damages caused by their companies, but if they persistently can't keep their organizations operating within the law, perhaps a period of open public administration at the company's expense might be a good remedy.
[note: there might be some serious drawbacks to this proposal - it's just a conjecture since corporate wrongdoing is a serious problem that doesn't seem to have good solutions yet]
- nikcub 15y agoThey did that with company financials with Sarbane Oxley. It increased compliance costs for all companies because of a rogue few. Let the courts and legal system handle this. Probably too soon to ask for more regulation.
- rbarooah 15y agoI don't see how your comment or Sarbanes Oxley is relevant to what I said. I didn't suggest more regulation or anything to 'comply' with. I was suggesting an alternative theory of corporate responsibility, and a remedy that the courts could apply in the case of detected wrongdoing, not for all companies. Am I missing something?