By Joel Bakan
During the last a hundred and fifty years the company has risen from relative obscurity to develop into the world's dominant monetary establishment. Eminent Canadian legislation professor and criminal theorist Joel Bakan contends that today's company is a pathological establishment, a deadly possessor of the nice energy it wields over humans and societies.
during this progressive evaluate of the background, personality, and globalization of the trendy enterprise company, Bakan backs his premise with the subsequent observations:
<UL TYPE=DISC> • The corporation's legally outlined mandate is to pursue relentlessly and with no exception its personal financial self-interest, whatever the destructive effects it could reason to others.
• The corporation's unbridled self-interest victimizes contributors, society, and, while it is going awry, even shareholders and will reason firms to self-destruct, as fresh Wall road scandals exhibit.
• Governments have freed the company, regardless of its mistaken personality, from felony constraints via deregulation and granted it ever higher authority over society via privatization. </UL>
yet Bakan believes swap is feasible and he outlines a far-reaching application of feasible reforms via felony rules and democratic regulate.
that includes in-depth interviews with such wide-ranging figures as Nobel Prize winner Milton Friedman, enterprise guru Peter Drucker, and cultural critic Noam Chomsky, The Corporation is a unprecedented paintings that might train and enlighten scholars, CEOs, whistle-blowers, strength agents, pawns, pundits, and politicians alike.
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Extra info for The Corporation: The Pathological Pursuit of Profit and Power
Sample text
1995 Geneva headquarters 350 national & inter- national corporate, media, academia, public service, & NGO elite Global, draws elite representation from western Europe, central & eastern Europe, Africa, North America, Latin America, Asia, & Oceania Global, draws elite representation from Africa, North America, Latin America, Asia, & Oceania The ‘triad’, draws elite representation from North Atlantic, Japan, ASEAN Policy-planning & elite consensus-seeking forum; research task forces; discourse producer 115 national & inter- national corporate, govt, military & academic elite; no set membership Trilateral Neoliberal Economic order Commission structuralist among ‘triad’ states Est.
In Japan, on the other hand, there is still a relatively small amount of foreign investment: even in 1996 less than 1 per cent of GDP (Bairoch 2000: 209). Japan remains predominantly an exporter of capital. As is well known, with the increased volume of foreign investment has come a change in the pattern of internationalization. In 1970 nearly threequarters of all foreign investment went to developed countries. By 1996 60 per cent of the foreign investment flows was between developed countries (Burbach and Robinson 1999: 18).
Third was the globalization of the commodity and financial markets (illustrated by trade and portfolio investment data) and the move of banks into international consortia. Fennema and van der Pijl (1987) have argued that there was a shift of economic policy and corporate strategy towards rentier investment rather than productive investment. The logic of money capital seemed to replace the logic of productive capital. Such shifts can, however, also be interpreted as a move from what Nooteboom (1999) calls voice-based to exit-based strategies of corporate governance.