per Business Insider
Delaware is the second-smallest American state by area and has under a million people, but it's where 66.8% of Fortune 500 companies are incorporated. The First State has become a destination for major corporations' legal frameworks largely due to policies that result in significantly smaller tax bills than elsewhere in the country.
This also means that its courts are among the most important in the United States for business, and the chief justice of its Supreme Court has a platform for influencing corporate law. Leo E. Strine, Jr., is the outspoken judge holding that position, and he's got a lot to say about the current state of the American economy.
He pointed to the way some Americans talk about Vermont Sen. Bernie Sanders, who is running as a Democratic presidential candidate. "When people talk Bernie Sanders as if he's a communist, they show a profound ignorance" of the market and of history, Strine said. He added that while he doesn't agree with all of Sanders' proposals, they're not actually radical from a historical or global perspective. Per Strine, Sanders is actually a centrist by the standards of some of our closest and most prosperous European allies.
"There is profound economic insecurity. That is the sort of thing that happened in the late '20s and 1930s and that we overcame with New Deal democracy, which became a role model for market dynamism that was tempered by fairness for everybody," Strine said.