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The Corporation: The Pathological Pursuit of Profit and Power

Book by Joel Bakan · 13 quotes · Corporations, Economic, Government

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The Corporation: The Pathological Pursuit of Profit and Power Quotes

“Dodge v. Ford still stands for the legal principal that managers and directors have a legal duty to put the shareholders' interests above all others and no legal authority to serve any other interests - what has come to be known as "the best interests of the corporation" principal.”

“The genius of the corporation as a business form, and the reason for its remarkable rise over the last three centuries , was - and is - its capacity to combine the capital, and thus the economic power, of unlimited numbers of people.”

“As the corporation's size and power grew, so did the need to assuage people's fears of it. The corporation suffered its first full-blown legitimacy crisis in the wake of the early-twentieth-century merger movement, when, for the first time, many Americans realized that corporations, now turned behemoths, threatened to overwhelm their social institutions and governments.”

“The notion that business and government are and should be partners is ubiquitous, unremarkable, and repeated like a mantra by leaders in both domains. It seems a compelling and innocuous idea - until you think about what it really means.”