Reconstituting Corporate Power & Accountability

Abstract

Modern society faces a growing crisis of corporate impunity. While corporations generate immense value, they increasingly inflict harm at scales that dwarf those of traditional street crime. Decades of deregulation, unchecked corporate lobbying, and a judiciary actively dismantling the administrative state have created a dangerous accountability vacuum. And just as federal oversight is collapsing, the Supreme Court's expanding preemption doctrine is handcuffing state regulators. This Article proposes a paradigm shift: the revitalization of state criminal authority, a power largely shielded from federal interference. Upon securing a conviction or deferred prosecution agreement, states should mandate that the offending corporation conduct all future business within the state through a public benefit corporation. This innovative remedy moves beyond ineffective fines, leveraging the state's authority over corporate charters to fundamentally restructure corporate incentives and align the pursuit of profit with the public good.