David Bourget (Western Ontario)
David Chalmers (ANU, NYU)
Rafael De Clercq
Jack Alan Reynolds
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Journal of Business Ethics 71 (4):359-370 (2007)
Although McMahon offers a potentially valuable extension of Joseph Raz's conceptualization of authority by distinguishing three different kinds of authority, this paper argues, first, that his account of the conditions and considerations that would justify managerial authority is problematic because it relies on a conception of reasons for action that excludes precisely the kind of rationality that plays an important role in the␣explanation and justification of authority in economic␣organization. This paper explains, second, why McMahon's thesis of the justificatory similarity of authority in governments and nongovernmental organizations can also be seen to hold for corporate governance of publicly owned firms more specifically. Finally, this paper raises some critical objections against McMahon's presumption of democratic governance in governments and NGO's alike. The thrust of these objections is that democratic corporate governance does not make sense in the publicly owned firms because: (1) it will not produce results that are fair or welfare maximizing, and (2) it will undermine the legitimacy of managerial authority in such firms.
|Keywords||Philosophy Quality of Life Research Management Economic Growth Ethics|
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References found in this work BETA
Joseph Raz (1986). The Morality of Freedom. Oxford University Press.
Joseph Raz (1975). Practical Reason and Norms. Hutchinson.
Mark Blaug (1996). The Methodology of Economics. Or How Economists Explain. Erkenntnis 45 (1):129-131.
Leslie Green (1990). The Authority of the State. Clarendon Press.
Christopher McMahon (1998). [Book Review] Authority and Democracy, a General Theory of Government and Management. [REVIEW] Business Ethics Quarterly 8 (2):873-876.
Citations of this work BETA
Salla Laasonen, Martin Fougère & Arno Kourula (2012). Dominant Articulations in Academic Business and Society Discourse on NGO–Business Relations: A Critical Assessment. [REVIEW] Journal of Business Ethics 109 (4):521-545.
Rae André (2010). Assessing the Accountability of Government-Sponsored Enterprises and Quangos. Journal of Business Ethics 97 (2):271 - 289.
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