If society is to improve itself and make good on its democratic promises, large corporations must be reformed so that they better fit and square with democratic theory and vision. The undertaking is immense, but it is entirely worthy of our collective energies. Accordingly, if we are to work towards good corporate governance, we must implement a sea change in how we think about corporations, how we constitute them, how we regulate them, and what we expect of them.

The [global] financial crisis has reminded the world of the extreme dangers of unregulated markets and institutions, and of the eternal importance of transparency, disclosure, risk management, effective regulation, and robust governance.

… ethics and norms are not only more potent means to achieve compliance with the law than deterrence is, but in fact also delimit the relevance of deterrence.