The Corporation. The Pathological Pursuit of Profit and Power

Abstract

In this compelling opus on reform, driven by extensive research, authoritative anecdotes, and insider interviews, eminent law professor and legal theorist Joel Bakan points out that as a legal and economic entity, the modern corporation is essentially pathological in nature, placing the profit motive above any social value or accountability. But a change is in the wind. The recent spate of corporate scandals are causing companies to consider and put into effect a heightened social responsibility. In THE CORPORATION, Bakan backs his premise with the following claims: Corporations are required by law to elevate their own interests above those of others, making them prone to prey upon and exploit others without regard for legal rules or moral limits; The corporation's unbridled self-interest victimizes individuals, the environment and even shareholders, and can cause corporations to self-destruct; Governments have abdicated control over the corporation, despite its flawed character, by freeing it from legal constraints through deregulation and by granting it ever greater authority over society through privatisation Despite the structural failings found in many corporations, Bakan believes that change is possible and outlines a far-reaching programme to bring reform through legal regulation and democratic control.