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Stakeholder capitalism: Difference between revisions
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''Dangerous'', even. | ''Dangerous'', even. | ||
In 2003, legal academic Joel Bakan put the argument that, since a [[Legal person|corporation]]’s sole statutory motive is the short-term enrichment of its owners, it has the clinical characteristics of a ''psychopath''.<ref>Joel Bakan, ''The Corporation: The Pathological Pursuit of Profit and Power'' (2003)</ref> | In 2003, legal academic [[Joel Bakan]] put the argument that, since a [[Legal person|corporation]]’s sole statutory motive is the short-term enrichment of its owners, it has the clinical characteristics of a ''psychopath''.<ref>Joel Bakan, ''[[The Corporation: The Pathological Pursuit of Profit and Power]]'' (2003)</ref> | ||
Since then, things have only got worse for Adam Smith’s conviction. We are cancelling and redrawing the world: let us cancel and redraw our corporate aspirations too. The profit motive is, by design, venal, selfish and riven with [[Unconscious bias|bias]]. Its stampede for profit demonstrates an abject want of care for everyone, and everything, else. And so it has come to pass: “''stakeholder'' capitalism” has displaced [[shareholder capitalism]]. The wider world is the constituency. Greed is not good. | Since then, things have only got worse for Adam Smith’s conviction. We are cancelling and redrawing the world: let us cancel and redraw our corporate aspirations too. The profit motive is, by design, venal, selfish and riven with [[Unconscious bias|bias]]. Its stampede for profit demonstrates an abject want of care for everyone, and everything, else. And so it has come to pass: “''stakeholder'' capitalism” has displaced [[shareholder capitalism]]. The wider world is the constituency. Greed is not good. | ||