Authors critical of corporate power focus almost exclusively on one solution: bringing it under democratic control. However important this is, there are at least two other options, which are rarely discussed: reducing powerful firms’ size and influence, or accepting corporate power as a necessary evil. This article provides a comparative perspective for evaluating all three options. It argues that the trade-offs we face in responding to corporate power have a trilemmatic structure. The pure strategies of accepting powerful firms, breaking them (...) up, or rendering them more accountable are each incompatible with one of three important values: power balance, economies of scale, and minimizing agency costs, respectively. While the latter two concepts are purely economic and efficiency-based, the value of power balance can be grounded in a variety of reasons. Different normative interpretations of power balance are discussed, along with their implications for policy choices within the trilemma. (shrink)

This introductory chapter provides a general framework for thinking about the relationship between wealth and power. It begins by situating the topic in the history of political thought, modern social science, and recent political philosophy, before putting forward an analytical framework. This has three elements: first, the idea of liberalism's public/private divide: a division between a power-wielding state from which wealth should be absent, and a market economy from which power should be absent; second, the two ways the division can (...) be transgressed by the power of the wealthy: by the wealthy subverting the power of the state and by directly exercising power within the economy; and third, the four different approaches to responding to the transgression, either aiming to reassert the public/private divide or to move beyond it. (shrink)

Corporations are increasingly asked to specify a ‘purpose.’ Instead of focusing on profits, a company should adopt a substantive purpose for the good of society. This chapter analyses, historicises, and radicalises this call for purpose. It schematises the history of the corporation into two main purpose/power regimes, each combining a way of thinking about corporate purpose with specific institutions to hold corporate power to account. Under the special charter regime of the seventeenth to mid-nineteenth centuries, governments chartered companies to pursue (...) specific public purposes. Under criticism for corruption and lack of competition, the special charter regime gave way to the contemporary general incorporation regime, under which no particular purposes are demanded of corporations, and profit-seeking has become the norm. This regime has now come under criticism, with calls for a new social purpose regime. The analysis of these three regimes focuses on politicisation. The chapter argues that orienting companies to substantive social purposes requires politicising the business corporation, creating meaningful accountability mechanisms to align companies with the goals of the public. The purpose paradigm must overcome its political timorousness and be more institutionally radical. The difficulty is doing this without unacceptable corruption and inefficiency. A form of ‘proper politicisation’ is needed. At the end of the chapter, some directions for reform are discussed, which may deliver on that desideratum. (shrink)

Is political equality viable given the unequal private property holdings characteristic of a capitalist economy? This book places the wealth-politics nexus at the centre of scholarly analysis. Traditional theories of democracy and property have often ignored the ways in which the rich attempt to convert their wealth into political power, operating on the implicit assumption that politics is isolated from economic forces. This book brings the moral and political links between wealth and power into clear focus. The chapters are divided (...) into three thematic sections. Part I analyses wealth and politics from the perspective of various political traditions, such as liberalism, republicanism, anarchism, and Marxism. Part II addresses the economic sphere, and looks at the political influence of corporations, philanthropists and commons-based organizations. Finally, Part III turns to the political sphere and looks at the role of political parties and constitutions, and phenomena such as corruption and lobbying. Wealth and Power: Philosophical Perspectives will be of interest to scholars and advanced students working in political philosophy, political science, economics, and law. (shrink)

Internationale markten zijn de afgelopen decennia sterk mondiaal ontwikkeld en veel bedrijven zijn in deze geglobaliseerde context uitgegroeid tot belangrijke, quasi-politieke spelers. Deze stormachtige economische ontwikkelingen bieden kansen en welvaart aan velen, maar kennen echter ook schaduwzijden, van milieubelasting tot belastingontwijking. In deze bundel verkennen de auteurs het idee van de ‘open samenleving’ om vat te krijgen op deze nieuwe realiteit. De open samenleving naar het ideaal van Popper, waarin mensen de vrijheid hebben om hun mening uit te drukken, initiatief (...) te nemen, en elkaar tegen te spreken, wordt gezien als de grondslag voor vrijheid, welvaart, en vooruitgang. Deze bundel onderzoekt of de toegenomen openheid van markten de open samenleving als politiek ideaal dichterbij heeft gebracht. De auteurs werpen vanuit verschillende perspectieven een kritisch licht op de bedreigingen die voortvloeien uit mondiale markten en de toegenomen macht van ondernemingen. Ze stellen óók de vraag of het gedachtegoed van de open samenleving inspiratie kan bieden bij het tegengaan van die bedreigingen. Kunnen nieuwe vormen en interpretaties van ‘openheid’ worden gevonden, die tegenwicht bieden tegen de excessen van de vrijemarkteconomie? (shrink)

Van oudsher proberen liberaal-democratische samenlevingen private en publieke sferen gescheiden te houden. Individuen en bedrijven kunnen privaat handelen op de markt, winst maken en daar de vruchten van plukken. De publieke macht moet daar onafhankelijk van uitgeoefend worden, op democratische basis. Maar die strikte scheiding tussen privaat en publiek staat onder druk. Oligarchen beïnvloeden in veel landen de politiek, door partijdonaties en lobbyactiviteiten. Bedrijven reguleren hun eigen activiteiten, en overheden slagen er in een geglobaliseerde economie lang niet altijd in om (...) daar effectieve controle over te hebben. In dit boek presenteert Rutger Claassen een filosofische analyse van de relatie tussen privaat en publiek. In het feodalisme waren beide met elkaar verweven, op een ongezonde manier. De moderne, open samenleving ontstond in de 18e eeuw als een reactie daarop. Maar vandaag de dag lijken we een terugval te beleven. Opnieuw vermengen economische en politieke belangen zich, ten koste van burgers. Zijn we aangeland in een ‘neo-feodaal’ tijdperk? En hoe daarop te reageren? Voor iedereen die wil begrijpen hoe politiek en economie elkaar beïnvloeden, en hoe een filosofische blik ons daarbij kan helpen. (shrink)