Philosophy 2074F/G Lecture Notes - Lecture 8: Overgrazing, Invisible Hand, Market Structure

• School: Western University
• Department: Philosophy
• Course: Philosophy 2074F/G
• Professor: Rodney Parker

Document Summary

Edward freeman & the stakeholder theory of csr lecture 8. Despite not being human beings, corporations are treated as legal persons, and have many of the same rights and responsibilities as natural people" do. Corporations can exercise some human and legal rights against real individuals and the state, and they can themselves be responsible for human and legal rights violations. As corporations grow in size, wealth, and influence, they become part of the fabric of our society, intertwining with the way in which we live our lives, and how we come to think of our possible future life projects. As a result, they take on new powers. They no long act simply as a means for facilitating private business transactions, but become social institutions. Edward freeman challenges the classical view concerning the obligations which those in charge of deciding and enforcing corporate policy have to stockholders and to society.