The Political and Judicial Elements of American Capitalism

Explore the political and judicial aspects of American capitalism through the Merck-Vioxx case study in this 46-minute lecture from Yale University's "Capitalism: Success, Crisis and Reform" course. Delve into key topics such as government regulatory agencies, federalism, lobbying, regulatory capture, tort law, liability, and patent law. Examine the influence of concentrated business interests in Washington DC and understand how political and judicial factors shape the operation of capitalism. Analyze the constraints faced by reform-minded politicians when attempting to change the status quo. Learn about the common law tradition and the role of the plaintiff bar in shaping legal outcomes. Gain insights into the complex interplay between business, politics, and the legal system in the United States.