New York, NY (January 31, 2019) – New York Law School (NYLS) Professor Tamara Belinfanti, an expert on corporate governance, has published Citizen Capitalism: How a Universal Fund Can Provide Influence and Income to All (Berrett-Koehler). The book was co-authored by the late Lynn Stout, Distinguished Professor of Corporate and Business Law at Cornell Law School, and Sergio Gramitto, Visiting Associate Professor at Cornell Law School.
Citizen Capitalism calls for establishing a national fund that would be similar to a mega mutual fund and open to all Americans ages 18 and older. Called the “Universal Fund,” it would be supported by donations from corporations and wealthy individuals. Every participating citizen would receive a single share, supplemental income from returns generated by the fund, and shareholder voting rights. Shareholder dividends would grow as the fund grows.
“Citizen Capitalism sets forth a bold vision with a noble goal—to combat poverty and economic injustice,” said NYLS Dean and President Anthony W. Crowell. “I applaud Professor Belinfanti and her co-authors for applying their considerable corporate law expertise to solving one of our country’s most entrenched and persistent challenges.”
Professor Belinfanti has more than 15 years of experience in corporate law practice and academia. In 2013, she was named an Aspen Ideas Festival Scholar for her work on the roles and rights of corporations in the broader societal sphere. She is a frequently cited expert on corporate governance, shareholder engagement, and the proxy advisory industry.
She is also Co-Founder of the Ethical Shareholder Initiative, a new nonprofit housed in NYLS’s on-campus Social Justice Organization Incubator. The Ethical Shareholder Initiative is building a platform for shareholders to make voting decisions with ethical, social, and environmental considerations in mind.
Citizen Capitalism has won praise from both academia and business and has generated a following among supporters of its central proposal. Visit citizencapitalism.org to sign up for updates and events.