Stakeholder Capitalism

Journal of Business Ethics 74 (4):303-314 (2007)

Abstract
In this article, we will outline the principles of stakeholder capitalism and describe how this view rejects problematic assumptions in the current narratives of capitalism. Traditional narratives of capitalism rely upon the assumptions of competition, limited resources, and a winner-take-all mentality as fundamental to business and economic activity. These approaches leave little room for ethical analysis, have a simplistic view of human beings, and focus on value-capture rather than value-creation. We argue these assumptions about capitalism are inadequate and leave four problems in their wake. We wish to reframe the narrative of capitalism around the reinforcing concepts of stakeholders coupled with value creation and trade. If we think about how a society can sustain a system of voluntary value creation and trade, then capitalism can once more become a useful concept.
Keywords capitalism  stakeholder  ethics  economics  free market
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DOI 10.1007/s10551-007-9517-y
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References found in this work BETA

Darwin's Dangerous Idea.Daniel C. Dennett - 1996 - Behavior and Philosophy 24 (2):169-174.
Capitalism and Freedom.Milton Friedman - 1963 - Ethics 74 (1):70-72.
Stakeholder Theory: A Libertarian Defense.R. Edward Freeman & Robert A. Phillips - 2002 - Business Ethics Quarterly 12 (3):331-350.
Business Ethics at the Millennium.R. Edward Freeman - 2000 - Business Ethics Quarterly 10 (1):169-180.

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Citations of this work BETA

Pluralism in Political Corporate Social Responsibility.Jukka Mäkinen & Arno Kourula - 2012 - Business Ethics Quarterly 22 (4):649-678.
Agonistic Pluralism and Stakeholder Engagement.Cedric Dawkins - 2015 - Business Ethics Quarterly 25 (1):1-28.
The Collaborative Enterprise.Antonio Tencati & Laszlo Zsolnai - 2009 - Journal of Business Ethics 85 (3):367-376.

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