As producer of One Flew Over the Cuckoo's Nest (1975), Douglas won the Best Picture Oscar. After memorable roles in The China Syndrome (1979) and Romancing the Stone (1984), Douglas starred in a string of films dealing with controversial subjects, beginning with Fatal Attraction (1987), which tackled adultery.

His portrayal of corrupt tycoon Gordon Gekko in Wall Street (1987) earned him his first Oscar for acting and continued his streak of playing antiheroes in such films as Basic Instinct (1992) and Falling Down (1993). In 2000, Douglas earned much praise for his work playing compromised men of power in Wonder Boys and Traffic.