Stakeholder capitalism: Difference between revisions

Skeptics of the mass delusion conspiracy theories can relax: it is almost certainly the former. For “stakeholder capitalism” ''codifies'' the [[agency problem]]. It diffuses the executive’s accountability for anything the corporation does, putting the executive beyond the reproach of the constituent group with the means, justification and necessary consensus to stop them: the shareholders.  

Under Bakan’s theory, it is not the shareholders who are the psychopaths,<ref>Shareholders ''who themselves are corporations'' probably count as psychopaths, come to think of it, but the point remains valid. Shareholders are not necessarily corporate, and at some point all shareholdings must (right? ''Right''?) resolve back to some living, breathing individual.</ref> but the corporation as a distinct [[legal personality]] itself. Its shareholders are only its motivation for its pathology. Shareholders, as a class, have no such common characteristics. Indeed, shareholders are [[diverse]] in every conceivable dimension ''bar one''. They can be young or old, rich or poor, left or right, tall or short, male or female, gay or straight, black or white or, in each case, any gradation in between.They don’t have to ''know'' each other, ''like'' each other or ''care less'' about each other. They almost certainly won’t. The class of a company’s shareholders need have — no, no: ''will'' have — nothing whatever in common ''beyond their shareholding''.