{"title":"Reflection: Moral Firms and the Future of Capitalism","authors":"Rebecca M. Henderson","doi":"10.1017/s0007680524000011","DOIUrl":null,"url":null,"abstract":"<p>Capitalism has taken many forms over the last 500 years. This short essay asks whether rediscovering the idea that corporations have a moral duty to contribute to the social good might help create a form of capitalism capable of addressing the massive problems that we face. I argue that the property view of the corporation, or the idea that the sole goal of the corporation should be to maximize investor returns, might once have been appropriate, but is currently causing enormous damage. I suggest that the entity view of the corporation, or the view that the primary purpose of the corporation is to serve the common good, has a long history, and is currently remerging in ways that have the potential to help reform capitalism in powerful ways.</p>","PeriodicalId":9503,"journal":{"name":"Business History Review","volume":null,"pages":null},"PeriodicalIF":1.3000,"publicationDate":"2024-08-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Business History Review","FirstCategoryId":"98","ListUrlMain":"https://doi.org/10.1017/s0007680524000011","RegionNum":2,"RegionCategory":"历史学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q3","JCRName":"BUSINESS","Score":null,"Total":0}
引用次数: 0
Abstract
Capitalism has taken many forms over the last 500 years. This short essay asks whether rediscovering the idea that corporations have a moral duty to contribute to the social good might help create a form of capitalism capable of addressing the massive problems that we face. I argue that the property view of the corporation, or the idea that the sole goal of the corporation should be to maximize investor returns, might once have been appropriate, but is currently causing enormous damage. I suggest that the entity view of the corporation, or the view that the primary purpose of the corporation is to serve the common good, has a long history, and is currently remerging in ways that have the potential to help reform capitalism in powerful ways.
期刊介绍：
The Business History Review is a quarterly publication of original research by historians, economists, sociologists, and scholars of business administration. BHR"s ongoing mission, from its 1926 inception as the Bulletin of the Business Historical Society, is to encourage and aid the study of the evolution of business in all periods and all countries. The Business History Review is published in the spring, summer, autumn, and winter by Harvard Business School and is printed at The Sheridan Press in Pennsylvania.
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