By Pierre-Yves Gomez
What legitimizes energy inside an organization? this question is of outrage to the hundreds of thousands of voters whose lives rely on the destiny of industrial organisations. the foundations, associations and practices of company governance outline the bounds of the ability to direct, and ascertain lower than what stipulations this energy is appropriate. powerful company governance has lengthy been outlined by way of fiscal functionality. newer experiences have thinking about philosophical, political and ancient analyses. marketers and Democracy unites those strands of inquiry - the legitimacy of energy, the evolution of a number of types of governance and the economics of functionality - and proposes a framework for destiny research. It explores the opposing tensions of entrepreneurial strength and social fragmentation that shape the foundation of valid company governance in sleek societies. In doing so, it identifies a typical common sense that hyperlinks either the democratization of company governance and the expansion of financial functionality.
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Extra resources for Entrepreneurs and Democracy: A Political Theory of Corporate Governance (Business Value Creation and Society)
10 It is not the notion of personal property itself which is new – this notion must have existed since the beginning of human societies. What is radically new is the role played by private property in society as the definition of individual liberty. Thus, the fundamental institution of modern society is private property. 11 In a significant departure from the norms of the past, liberalism affirms that private property is as natural as life itself. A person cannot be truly free and hence truly a person unless the right to private property is guaranteed: a person is an owner.
The exemplary figure of the entrepreneur Why aren’t all individuals entrepreneurs? Putting the question more precisely, if the liberty to do business is an essential characteristic of modern liberty, then why does not everyone make use of the liberty to do business with the same intensity and the same success? These questions are important in formulating a justification for the authority of the entrepreneur and in making the distinction between employer and employees. This distinction forms one of the foundations of the corporation, but it creates an apparent inequality between free individuals: some individuals (the employees) contractually submit to the governance of others (the employers).
Would not the accumulation of property by a few make it impossible for others to become owners and hence be free? The problem of liberal political thought consists of proposing a theory of just private property, that is to say a theory of property that does not constrain individual liberty. In order for private property to be considered just, liberals consider property to be the result of human labour; labour, in turn, is made possible by the freedom to act in the liberal conceptualization. In the Second Treatise of Civil Government (1690), Locke shows that the person who works is the legitimate owner of the fruit of his/her labour: Though the earth, and all inferior creatures, be common to all men, yet every man has a property in his own person: this no body has any right to but himself.