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Michael C. Jensen, a corporate finance and governance expert, argues that the single most effective reform would be to "effectively remove the chief executive as chairman of the board, to have a nonmanagement chairman who sets the agenda".
Goldman Sachs has also said they "support effective reform.
"We have repeatedly said that we support effective reform.
Effective reform requires major changes in patient behavior.
But the report says that "vested interests are too powerful for effective reform to succeed".
But I believe this is an argument for effective reform rather than abolition.
This is the highly effective reform enacted after the Watergate scandal.
The most effective reform would encourage plaintiffs and defendants to settle cheaply and out of court.
Any effective reform will involve dismantling much of the inefficient and over-staffed public sector.
Yet effective reform has stalled, all the key players and institutions are still in place: business as usual.
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One cost-effective reform that would be quick and easy to implement would be to make it easier for people with disabilities who have found work to return to the same level of benefit if their job does not work out.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com