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.

Norman Barry (1944–2008) was a professor of political theory at the University of Buckingham.
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 Hayek’s Political Economy: The Socio-Economics of Order