The Stakeholder Concept of Corporate Control Is Illogical and Impractical
By Norman Barry
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.
|Other Independent Review articles by Norman Barry|
|Fall 1997||Hayeks Political Economy:The Socio-Economics of Order|