The problem with legal measures, however, is that they can have pernicious side effects and unintended consequences, especially when they are tailored to a particular crisis. The state’s function should be to enact and enforce laws on corporate governance and taxation of managers’ compensation.
但是，法律措施的问题是它们可能产生有害的副作用以及非预期的后果，特别是当专门定制以应付某一特别的危机的时候。国家的功能应当是在企业管治和经理人的报酬税收上制定和执行法律。在其他所有方面，立法不能作为常识、认识以及董事会的责任的替代品。