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Corporate Irresponsibility: America`s Newest Export

Online ISBN:
9780300137767
Print ISBN:
9780300090239
Publisher:
Yale University Press
Book

Corporate Irresponsibility: America`s Newest Export

Lawrence E. Mitchell
Lawrence E. Mitchell
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Published:
11 December 2001
Online ISBN:
9780300137767
Print ISBN:
9780300090239
Publisher:
Yale University Press

Abstract

This book explores the philosophical and social environment in which the modern American corporation is grounded, and explains why, from a cultural perspective, the people should not expect the corporations to behave responsibly and accountably. The American corporation is a subject of wonder for the fabulous wealth that this protected capital has produced, freeing so many people to pursue other dreams and lead lives of greater meaning than merely making a living. It is a wonder, because, in these ways, modern American business corporations have created material well-being that allows so many people to live the eighteenth-century liberal ideal on which America was founded, an ideal of individual freedom, autonomy, and choice. However, the American corporation is also a subject of horror for the way its limited liability permits it to dump the costs of production onto those who are powerless to affect its conduct. The book examines the legal structure of the corporation in finer detail, demonstrating how each aspect of that structure contributes to some problems identified and suggesting ways in which an environment might be created in which managers, stockholders, and workers can use the best aspects of the structure to more likely assure responsible, long-term management. It also presents a brief examination of the nature of capitalism and its various forms.

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