The Divine Right of Capital: Dethroning the Corporate Aristocracy

The Divine Right of Capital: Dethroning the Corporate Aristocracy (BK Currents) byMarjorie Kelly (Author), William Greider (Foreword)

Publisher: Berrett-Koehler Publishers; Reprint edition (January 9, 2003) | ISBN-10: 1576752372 | PDF | 0,7 Mb | 288 pages

The founder and editor of Business Ethics and a frequentcontributor to NPR, Kelly here considers how corporations striveto make money for their shareholders regardless of the costs tosociety. The first of the book's two parts discusses theprinciples of economic aristocracy, showing how the corporationexists not for the employees or the community it supposedlyserves but for the investor. Examples include the maxim thatpaying stockholders is more important than paying employees, thebelief that the corporation is a property that can be owned andsold, and the fact that only stockholders can vote to determinethe company's future. This power structure has resulted inlayoffs, plant closings, and other forms of social discord. Inthe second part, she examines a thought-provoking course ofaction that would improve matters a new set of paradigms andlaws that would result in economic democracy, insuring thatcorporations exist for the public good. Jefferson, Lincoln,Roosevelt, John Locke, and Adam Smith are some of the luminariesshe cites to support her points of view. This well-documentedand readable book is a good choice for business schoollibraries.

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