comm387exam2SG - Joel Bakan The Corporation 1 They posture...

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Joel Bakan – The Corporation 1. They posture as infallible and omnipotent, glorifying themselves in imposing buildings and elaborate displays 2. 16 th century the corporation separated ownership from management. One group of people ran the firm while another group owned it. in the 17 th and 18 th centuries small groups of men pooled their resources to set up businesses they ran as well as owned 3. Because managers could not be trusted to steward “other people’s money,” “negligence and profusion” would inevitable result when businesses organized as corporations. 4. They passed the “bubble act” which made it a criminal offense to create a company “presuming to be a corporate body,” and to issue “transferable stocks without legal authority.” 5. It is unthinkable that a government would ban the corporate form. 6. The fact that over the last three hundred years, corporations have amassed such great power as to weaken government’s ability to control them. 7. Its capacity to combine the capital, and thus the economic power, of unlimited numbers of people 8. Corporations multiplied because larger scale undertakings demanded significantly more capital investment than partnerships could raise 9. America’s 19 th century railroad barons 10. No matter how much or how little a person had invested in a company, he or she was personally liable, without limit, for the company’s debts 11. Ending class conflict be co-opting workers into the capitalist system 12. Moral basis 13. They sought to attract valuable incorporation business to their jurisdictions by jettisoning unpopular restrictions from their corporate laws 14. A large number of small and medium-size corporations were quickly absorbed into a small number of very large ones 15. Managers 16. The corporation itself – corporate personhood 17. Corporations should be created as free individuals, because they were “persons,” corporations should be protected by the fourteenth amendment’s rights to due process of law and equal protection of the laws 18. Created new public relations strategies 19. Persuade a skeptical public to like and accept the company 20. Calling it a family 21. Busily crafting images of themselves as benevolent and socially responsible 22. Many people believed that corporate greed and mismanagement had cause the great depression – corporations suffered from adverse public opinion 23. Organized industry should take the lead, recognizing its responsibility to its employees, to the public, and to its shareholders rather than that democratic society should act through its government 24. The view that they are guardians of all the interests which the corporation affects and not merely servants of its absentee owners 25. Restore economic health by curbing the powers and freedoms of corporations
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26. Plotted to overthrow Roosevelt’s administration 27. The growing power of corporations was offset by continued expansion of government regulation, trade union, and social programs
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This note was uploaded on 11/11/2010 for the course COMM 387 taught by Professor Sutjhally during the Spring '06 term at UMass (Amherst).

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comm387exam2SG - Joel Bakan The Corporation 1 They posture...

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