The Concept of the Corporation

Something here from John Kay's blog that looks at the nature of the corporation and challenges the view that "shareholders own the company".

It is a fantastic overview of the economic thinking relating to the theory of the firm, which interestingly included some of Ronald Coase's earliest work and how, in recent times, we've moved away from this to everyone's detriment.

It spells out the difference between shareholders and stakeholders, and posits that the former gaining too much power is, necessarily, a bad thing.