Margaret Blair is an economist who focuses on corporate law and finance. Her current research focuses on five areas: team production and the role of corporate boards of directors, the legal concept of "personhood," the historical treatment of corporations by the Supreme Court, the role of private-sector governance arrangements in contract enforcement, and the problem of excessive leverage in financial markets. Professor Blair joined Vanderbilt's law faculty in 2004 as part of the team supporting the Law and Business Program and was appointed to the Milton R. Underwood Chair in Free Enterprise in 2010. She had previously taught at Georgetown University Law Center, where she became a visiting professor in 1996 and served as a Sloan Visiting Professor and as research director for the Sloan-GULC Project on Business Institutions, from 2000 through June 2004. She has also been a senior fellow in the Economic Studies Program at the Brookings Institution, where she directed research and wrote about corporate governance and the role of human capital in corporations. She served on the board of directors of Sonic Corporation from 2001 to 2006 and currently serves on the board of WRAP (Worldwide Responsible Accredited Production).