Criticisms of the stakeholder concept of corporate governance have focused on its threats to private-property rights and to traditional incentives for corporate accountability. An equally serious objection, however, is that stakeholder theory is plagued by the same logical problems that confront democracy in general.
The Stakeholder Concept of Corporate Control Is Illogical and Impractical
By Norman Barry
This
article
appeared in
the Spring 2002 issue of The Independent Review.
Banking and FinanceBusiness and EntrepreneurshipDemocracyEconomyGovernment and PoliticsLaw and LibertyPhilosophy and ReligionPolitical TheoryPublic ChoiceSocialism, Communism, and Collectivism
Other Independent Review articles by Norman Barry | |
Fall 1997 | Hayeks Political Economy:The Socio-Economics of Order |