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Capitalism, Corporations and the Social Contract: A Critique of Stakeholder Theory

Samuel F. Mansell

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ISBN 10: 1107015529 / ISBN 13: 9781107015524
Published by Cambridge University Press
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Hardcover. 196 pages. Dimensions: 9.1in. x 6.2in. x 0.6in.In whose interests should a corporation be run Over the last thirty years the field of stakeholder theory has proposed a distinctive answer: a corporation should be run in the interests of all its primary stakeholders - including employees, customers, suppliers and financiers - without contradicting the ethical principles on which capitalism stands. This book offers a critique of this central claim. It argues that by applying the political concept of a social contract to the corporation, stakeholder theory in fact undermines the principles on which a market economy is based. The argument builds upon an extensive review of the stakeholder literature and an analysis of its philosophical foundations, particularly concerning the social contract tradition of John Rawls and his predecessors. The book concludes by offering a qualified version of Milton Friedmans shareholder theory as a more justifiable account of the purpose of a corporation. This item ships from multiple locations. Your book may arrive from Roseburg,OR, La Vergne,TN. Bookseller Inventory # 9781107015524

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Bibliographic Details

Title: Capitalism, Corporations and the Social ...

Publisher: Cambridge University Press

Binding: Hardcover

Book Condition:New

Book Type: Hardcover

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In whose interests should a corporation be run? Over the last thirty years the field of 'stakeholder theory' has proposed a distinctive answer: a corporation should be run in the interests of all its primary stakeholders - including employees, customers, suppliers and financiers - without contradicting the ethical principles on which capitalism stands. This book offers a critique of this central claim. It argues that by applying the political concept of a 'social contract' to the corporation, stakeholder theory in fact undermines the principles on which a market economy is based. The argument builds upon an extensive review of the stakeholder literature and an analysis of its philosophical foundations, particularly concerning the social contract tradition of John Rawls and his predecessors. The book concludes by offering a qualified version of Milton Friedman's shareholder theory as a more justifiable account of the purpose of a corporation.

Book Description:

In whose interests should a corporation be run? Proponents of 'stakeholder theory' propose a distinctive answer: it should be run in the interests of its primary stakeholders. Samuel Mansell offers a detailed critique of this claim, arguing that stakeholder theory undermines the principles on which a market economy is based.

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