Federalist Society Annual Faculty Conference Panel 2: Politicization of the Economy

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Session Type: Other Organization Events

Session Capacity: N/A

Hotel: N/A

Room: Marina Ballroom Salon G

Floor: Third Floor, South Tower

The role of our democratically responsive institutions—and the legislature in particular—is increasingly performed by private economic actors and independent financial regulators willing to use their influence over capital to steer economic life pursuant to a set of politically charged values. Large firms, perhaps in response to customer demand or managerial preferences, attempt to influence a range of public policies, from gun rights to religious liberty to climate, now as a matter of common course. Financial institutions have become reluctant to lend to oil and gas companies. Financial regulators such as the Federal Reserve and the SEC have given tailwinds to these actions by requiring firms to consider climate risk when making business decisions. According to some, these steps are needed in light of Congress’s reluctance to address pressing social issues. According to others, contemporary congressional inertia is a feature of our system of separated powers and mixing economic and social justice issues is inconsistent with bedrock principles of free-market capitalism. This panel will consider the relationship between the economy, economic regulators, and the use of economic power to regulate social issues and influence public policy.