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Critically analyze Joel Bakan's argument in the book The Corporation - Assignment Example

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The Corporation Institution’s Name Name The Corporation Introduction Professor Joel Bakan introduces the book by likening the corporation to a human being. He argues that if the corporation was human, then it would be a psychopath. Good men and women has caused harm in the society through the corporation…
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Critically analyze Joel Bakans argument in the book The Corporation
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Download file to see previous pages Joel continues to show in his book the way the corporation diverts the democratic process through donations and lobbying. However, Joel Bakan does not stop at the illegality of the corporation but also offers insight on how the evil can be fought and balancing of power provided back to the citizens. Khan argues based on two fundamental issues. One is the claim that modern corporations continues to cause harm taking advantage of the limited liability nature of the corporations that are existing. Secondly, the attack on us of cost-benefit analysis by corporations while making decisions on health and safety issues regarding the population. The corporation is likened to human being although it poses no feelings. It is the rising of the corporate body. The railway has used the law in order to continue inflicting pain on people instead of making their lives better. The railway is a monopoly and it enjoys the benefits of setting their prices and adjusting them to whichever the cost since they do not face any competition. The monopolistic aspect of the railway corporation in the US is highlighted in this documentary. The documentary also highlights ho the environment is constantly abused by large corporations with the interest if enriching shareholders and managers of certain companies. Chapter 1 The origin of the Corporation The corporation dates back in the early 17th and 20th century. Bakan starts by pointing out the South Sea Company and how the company collapsed due to modern sags of Enron and other corporates. After the collapse of this company, many restrictions were created for joint stock companies. The restrictions were planned and desired and are now on use in the current market. The railways in the US and United Kingdom required financing. The financing led to the limited liability corporations in the whole of Atlanta. Various statutes across the Atlantic were passed to protect the corporation. Bakan continues by pointing out the competition between states like New Jersey and Delaware, in attracting corporations. The states passed permissive statutes, which are not restricting any conduct. Bakan also accuses the US Supreme court as allegedly prejudicing and giving corporation’s rights. The rights protected the corporations at the expense of the newly freed Blacks. This can be reinforced by the fact that the theory of grant came into practice. The corporations acted on the grant theory that permitted them to do anything for duration of time only they could decide to be in operation. Bakan argues that since the corporations are existing and operating as human beings, they are rising and causing grave harm to the society by rendering shareholders and society helpless against the power that they possess. Bakan continues to present both sides of his argument on the evil of corporation and the ways by which this oppression can be sidelines. He makes a major option that ownership of the shareholders and control of their investment is the only way to bring back the control of the corporations in the hands of the public. By achieving this, Bakan argues that the operation of corporations by impunity and lack of accountability can end. The hidden factor that Bakan highlights is that the limited liability companies mask the idea that they cannot exist without the grants from the state. Bakan argues ...Download file to see next pagesRead More
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