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American Business Will Regret Writing Off Democracy

By endorsing Donald Trump’s run for the US presidency, American business leaders are embracing a man who has only contempt for the law. In doing so, they seem to have forgotten that legal certainty is the primary source of their own power in American economic and political life.

NEW YORK – American Big Business is in the process of writing off democracy, or so it seems. Stephen Schwarzman of Blackstone, the real-estate investment/private-equity conglomerate, is only the latest business leader to endorse Donald Trump’s candidacy for the presidency. The CEOs of major oil companies have done the same, and Jamie Dimon, the chairman and CEO of JPMorgan Chase, recently remarked that Trump’s views on NATO, immigration, and many other critical issues are “kind of right.”