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Summary

In recent years, there has been increasing pressure on corporate entities to engage in moral or ethical decision- making. Given the immense economic and political power of modern corporate entities, it becomes critical to determine the origin point of these ethical decisions, both to ensure that corporations are held responsible for their moral choices and to tether corporate moral decision-making power to the appropriate group, or groups, of human beings. Determining to whom corporate morality should be attributed is not an easy task, however, and requires consideration not just of the people involved in the corporation but also of the role the corporation plays within a representative democracy. Ultimately, inquiry into the attribution of a corporation’s moral judgments may best be seen as fluid and context-dependent. That is, it should examine both the way the corporation is structured and the importance of representation for the moral choices of corporate stakeholders.

The key aim of this article is to reassess the societal consequences of the adoption of neo-liberal policies, post-1970, in the light of the writings of Adam Smith. We make two main points: First, the neo-liberal paradigm (NLP) and its characteristics are not the creation of Adam Smith as asserted by leading economists and, indeed, the contrary is very much the case. Second, given this, what does Adam Smith’s work tell us about how we can fix modern-day capitalism broken by the NLP and bring it back in line with Smith’s work?

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11 - Who Is a Corporation?

Summary

ADAM SMITH AND THE NEO-LIBERAL PARADIGM: ON THE ESSENTIAL NATURE OF TRUST, AND REBALANCING CAPITAL

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2 results

11 - Who Is a Corporation?

Summary

ADAM SMITH AND THE NEO-LIBERAL PARADIGM: ON THE ESSENTIAL NATURE OF TRUST, AND REBALANCING CAPITAL