The Corporation: The Pathological Pursuit of Profit and Power

The Corporation: The Pathological Pursuit of Profit and Power
by Joel Bakan

The Corporation: The Pathological Pursuit of Profit and Power
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Book Summary Information

Author: Joel Bakan
Edition: Paperback
Audio: English (Unknown); English (Original Language); English (Published)
Published: 2005-03-01
ISBN: 0743247469
Number of pages: 240
Publisher: Free Press

Book Reviews of The Corporation: The Pathological Pursuit of Profit and Power

Book Review: Read this book as soon as possible
Summary: 5 Stars

This book has somewhat of a strange style in that it takes about a third of the book to get use to the way it is written and be drawn in. Don't let that fool you though. By the time you get to the end, you will feel like you've read one of the most important books written recently. The book basically covers the history of corporations, discusses what their reason for existence is, and talks about their behavior in society, leading up to the current situation. Since it's a short book written in a popular style, it's more of a summary of all these topics than a detailed academic thesis. I have been thinking about the role of special interests, the costs of things in our society and the place of the middle class. I'm also interested in things like global warming and energy. This book gave me a new perspective and a way to view all of these things as being interrelated. I think that many in our society are stuck in a cold war mentality of capitalism vs. socialism. This book seems to suggest that there is a different dynamic at play in which corporations, which are very undemocratic by nature, are taking over the public domain and taking advantage of the public for their profit-maximizing activities. Once you read this book, you will recognize this encroachement in various aspects of our scoiety, among them, health care, utilities, education, war efforts, energy policy and environmental protection. If every voter read this book, understood what it was saying, and thought honestly about the implications, we might have a much more reasoned and intelligent debate about the future direction of our country.

Summary of The Corporation: The Pathological Pursuit of Profit and Power

Over the last 150 years the corporation has risen from relative obscurity to become the world's dominant economic institution. Eminent Canadian law professor and legal theorist Joel Bakan contends that today's corporation is a pathological institution, a dangerous possessor of the great power it wields over people and societies.

In this revolutionary assessment of the history, character, and globalization of the modern business corporation, Bakan backs his premise with the following observations:

  • The corporation's legally defined mandate is to pursue relentlessly and without exception its own economic self-interest, regardless of the harmful consequences it might cause to others.

  • The corporation's unbridled self-interest victimizes individuals, society, and, when it goes awry, even shareholders and can cause corporations to self-destruct, as recent Wall Street scandals reveal.

  • Governments have freed the corporation, despite its flawed character, from legal constraints through deregulation and granted it ever greater authority over society through privatization.

But Bakan believes change is possible and he outlines a far-reaching program of achievable reforms through legal regulation and democratic control.

Featuring in-depth interviews with such wide-ranging figures as Nobel Prize winner Milton Friedman, business guru Peter Drucker, and cultural critic Noam Chomsky, The Corporation is an extraordinary work that will educate and enlighten students, CEOs, whistle-blowers, power brokers, pawns, pundits, and politicians alike.

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