Dissecting the Architecture of Corporate Power with Elizabeth Pollman

Corporate power increasingly shapes socioeconomic spaces, with corporations assuming roles traditionally held by governments. Elizabeth Pollman, a professor at the University of Pennsylvania Carey Law School, examines how legal doctrine and institutional systems—the "corporate governance machine"—reinforce shareholder primacy while often ignoring the reality of how modern corporations function. The discussion highlights the "pro-business paradox," where the Supreme Court expands corporate rights while simultaneously reducing accountability. Pollman also analyzes the genealogy of ESG, noting its origins in financial risk management rather than ethics, and explores how nonprofits act as "engines of external governance" by using litigation, lobbying, and shareholder proposals to influence corporate behavior. Ultimately, the conversation addresses the challenges of holding frontier AI labs and big tech accountable, emphasizing that traditional regulatory frameworks struggle to keep pace with the rapid evolution of these powerful entities.