LAYING DOWN THE LAW ON LOCKHEED: HOW AN AVIATION AND DEFENSE GIANT INSPIRED THE PROMULGATION OF THE FOREIGN CORRUPT PRACTICES ACT OF 1977

This paper examines the events that led to the passage of the Foreign Corrupt Practices Act of 1977 (FCPA 1977, or simply, the Act). Central to the narrative are the actions undertaken by Lockheed Corporation, the politico-economic context in which it operated, the international scandals that resulted from its practices, and the landmark law that resulted from these events. The paper concludes with an analysis of dramatic changes in the subsequent enforcement of FCPA 1977, and a consideration of the efficacy of this reform as viewed from various lenses provided by economics, law, philosophy, and political science.