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- W2901164986 abstract "This chapter reviews the theories of the corporation offered by Adam Smith, John Stuart Mill, and Karl Marx, looking at how they would answer the questions posed in the first chapter. We see that for the same reasons that Smith celebrated the “invisible hand” of the market, he was deeply skeptical of the joint-stock company. Mill and Marx, on the other hand, see in the joint-stock company the possibility of moral progress; Mill contended that joint-stock companies would give way to an economy dominated by worker cooperatives, and Marx accorded it a crucial role in the transcendence of capitalism. In the process of this overview we begin to see how firms and corporations are distinct from markets, and how one’s normative appraisal of the latter will affect the way they understand and assess the former." @default.
- W2901164986 created "2018-11-29" @default.
- W2901164986 creator A5029577627 @default.
- W2901164986 date "2018-11-22" @default.
- W2901164986 modified "2023-09-25" @default.
- W2901164986 title "The Classical Theories of the Corporation" @default.
- W2901164986 doi "https://doi.org/10.1093/oso/9780190698348.003.0003" @default.
- W2901164986 hasPublicationYear "2018" @default.
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