Abstract

http://ssrn.com/abstract=1410852
 
 

Citations



 


 



Stakeholder Capitalism


R. Edward Freeman


University of Virginia - Darden School of Business

Kirsten E. Martin


George Washington University School of Business

Bidhan L. Parmar


University of Virginia - Darden School of Business

May 27, 2009

Journal of Business Ethics, Vol. 74, No. 4, pp. 303-314, 2007

Abstract:     
In this article, we will outline the principles of stakeholder capitalism and describe how this view rejects problematic assumptions in the current narratives of capitalism. Traditional narratives of capitalism rely upon the assumptions of competition, limited resources, and a winner-take-all mentality as fundamental to business and economic activity. These approaches leave little room for ethical analysis, have a simplistic view of human beings, and focus on value-capture rather than value-creation. We argue these assumptions about capitalism are inadequate and leave four problems in their wake. We wish to reframe the narrative of capitalism around the reinforcing concepts of stakeholders coupled with value creation and trade. If we think about how a society can sustain a system of voluntary value creation and trade, then capitalism can once more become a useful concept.

Keywords: stakeholder theory, free market, pragmatism, ethics, strategy, management theory, capitalism, stakeholder, ethics, economics, libertarian

Accepted Paper Series


Not Available For Download

Date posted: May 28, 2009 ; Last revised: December 20, 2013

Suggested Citation

Freeman, R. Edward and Martin, Kirsten E. and Parmar, Bidhan L., Stakeholder Capitalism (May 27, 2009). Journal of Business Ethics, Vol. 74, No. 4, pp. 303-314, 2007. Available at SSRN: http://ssrn.com/abstract=1410852

Contact Information

R. Edward Freeman
University of Virginia (UVA) - Darden School of Business ( email )
P.O. Box 6550
Charlottesville, VA 22906-6550
United States
804-924-0935 (Phone)
804-924-6378 (Fax)
HOME PAGE: http://www.darden.virginia.edu/faculty/freeman.htm
Kirsten E. M. Martin (Contact Author)
George Washington University School of Business ( email )
Washington, DC 20052
United States
Bidhan L. Parmar
University of Virginia (UVA) - Darden School of Business ( email )
P.O. Box 6550
Charlottesville, VA 22906-6550
United States
Feedback to SSRN


Paper statistics
Abstract Views: 1,907
Paper comments
No comments have been made on this paper

© 2014 Social Science Electronic Publishing, Inc. All Rights Reserved.  FAQ   Terms of Use   Privacy Policy   Copyright   Contact Us
This page was processed by apollo1 in 2.000 seconds