{"id":1009,"date":"2017-09-19T09:00:51","date_gmt":"2017-09-19T14:00:51","guid":{"rendered":"http:\/\/blogs.luc.edu\/compliance\/?p=1009"},"modified":"2017-09-19T09:00:51","modified_gmt":"2017-09-19T14:00:51","slug":"guest-post-a-post-regulatory-recipe-for-economic-leadership","status":"publish","type":"post","link":"https:\/\/blogs.luc.edu\/compliance\/?p=1009","title":{"rendered":"Guest Post: A Post-Regulatory Recipe for Economic Leadership"},"content":{"rendered":"

William Devine
\nGuest Contributor
\nManaging Partner, William Devine Esquire
\nAdjunct Professor of Management, Menlo College<\/em><\/p>\n

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Apple<\/a> has developed and distributed a curriculum that will teach students at 30 community colleges around the country to write code and create apps. What prompts this gift? A belief that we all bear responsibility for sustaining a functional economy.\u00a0 At\u00a0a time when some corporate leaders and their legal teams focus on the perils of overregulation, the greatest regulatory risk an enterprise confronts may not be high compliance hurdles, but rather the possibility that regulators can’t keep the economy functioning well enough for the enterprise to do its most commercially inventive and societally valued work.<\/p>\n

Regulatory truth<\/strong><\/p>\n

There is no law that requires a healthy economy be here for us to capitalize on tomorrow morning when we wake up. Apple\u2019s Tim Cook<\/a> apparently knows this. In Andrew Ross Sorkin\u2019s recent\u00a0New York Times piece<\/a>, Cook states, \u201cI think we have a moral responsibility to help grow the economy.\u201d<\/p>\n

Why does this responsibility fall to us? \u201c[G]overnment, for a long period of time, has for whatever set of reasons become less functional and isn\u2019t working at the speed that it once was.\u201d<\/p>\n

He seems\u00a0to have no interest in complaining. Perhaps that’s because he is focused on an unexpected point\u2014at a time when some corporate leaders focus on the perils of overregulation<\/a>, the greatest regulatory risk an enterprise confronts may not be high compliance hurdles, but rather the possibility that regulators can’t keep the economy functioning well enough for the enterprise to do its most commercially inventive and societally valued work.<\/p>\n

Despite regulators\u2019 best efforts, for example, a company like Apple may find that:<\/p>\n