NCJ Number
172114
Journal
Journal of Law and Society Volume: 24 Issue: 2 Dated: (June 1997) Pages: 276-284
Date Published
1997
Length
9 pages
Annotation
This article is part of a dialogue on the constraints on corporate behavior.
Abstract
An earlier article which discussed the constraints on corporate behavior elicited a response from a reader who considered that the original paper exaggerated the constraints on corporate behavior. This article comments on the response and elaborates on issues raised in both of the earlier articles, exploring: the historical development of capitalism; the competitive to monopoly capitalism thesis; market conditions during the 19th century; the rise of the joint-stock combination; and the rise of global finance. The article concludes that the socialist project must be revitalized and reinvented in a manner which responds to present circumstances. This means recognizing that it is becoming less and less possible for effective reform to avoid either action at an international level or a political contestation of the social property relations of capitalism, things which the idea of corporate stakeholding fails to do. Notes, references