Enrichment

The Concept of the Corporation

5th February 2019

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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.

What exactly are corporations, and how should we understand them? My latest paper, The Concept of the Corporation, looks at this issue and has just been published by Business History - you can also read it at https://t.co/uNnTyTvrw3
— John Kay (@ProfJohnKay) January 21, 2019

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Graham Watson

Graham Watson has taught Economics for over twenty years. He contributes to Tutor2U, reads voraciously and is interested in all aspects of Teaching and Learning.

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The Concept of the Corporation

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