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7 - Possible Merits of the Business Roundtable’s Embrace of Stakeholder Capitalism

from Part II - The Merits

Published online by Cambridge University Press:  02 February 2023

Stephen M. Bainbridge
Stephen M. Bainbridge
Affiliation:
University of California, Los Angeles
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Summary

There are four basic arguments in favor of stakeholder capitalism. (1) It is a necessary response to the externalities generated by corporations. (2) Society expects business to solve problems when governments will not. (3) Corporations have too much power. (4) Millennials will only work for woke corporations. None of these arguments proves persuasive.

Keywords

stakeholder capitalismcorporate social responsibilityESGgreenwashinggovernmentcorporate powerwoke capitalism
Type
Chapter
Information
The Profit Motive
Defending Shareholder Value Maximization
 , pp. 85 - 100
Publisher: Cambridge University Press
Print publication year: 2023

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