BOOK
Business and Society
Doctor Kean Birch | Mark Peacock | Richard Wellen | Caroline Hossein | Sonya Scott | Alberto Salazar
(2017)
Additional Information
Book Details
Abstract
Corporations dominate our societies. They employ us, sell to us and influence how we think and who we vote for, while their economic interests dictate local, national and global agendas.
Written in clear and accessible terms, this much-needed textbook provides critical perspectives on all aspects of the relationship between business and society: from an historical analysis of the spread of capitalism as the foundation of the 'corporate' revolution in the late nineteenth century to the regulation, ethics and exclusionary implications of business in contemporary society. Furthermore, it examines how corporate power and capitalism might be resisted, outlining a range of alternatives, from the social economy through to new forms of open access or commons ownership.
‘The ideal user's guide to the modern world and how we got here. It untangles the thicket of politics and corporate power and gives readers cogent intellectual arguments and an inspiring message that change is possible and already happening.’
Katherine Trebeck, Oxfam GB
‘A fresh, topical and highly engaging introduction to the vital issues surrounding the business world. There is much food for thought in this book: every student of business should read it.’
Geoffrey Hodgson, author of Conceptualizing Capitalism: Institutions, Evolution, Future
‘Goes beyond conventional accounts to critically expose the complex realities of the relationship between business and society. With clarity and originality, the authors illuminate the role of business for shaping society both in the past and present.’
Sara Gorgoni, University of Greenwich
‘A most serviceable compass, timely and effective, for a time in which we are constantly told that society should be treated as just another type of business.’
Fabian Muniesa, Ecole des Mines de Paris
‘Offers a wide ranging introductory interdisciplinary text for the study of the modern world. Rich in conceptual debate, it provides students with incisive analysis and criticism. This is the antidote to the anodyne business school textbook.’
Liam Campling, Queen Mary University of London
'In this tremendous text, Kean Birch and his colleagues show us why we must understand economic activity as embedded in political decisions. This book should be compulsory reading for anyone who wants to understand how another business world is possible.'
Martin Parker, University of Leicester
Kean Birch is an associate professor in the Business and Society programme at York University, Canada. His recent books include: We Have Never Been Neoliberal (2015); The Handbook of Neoliberalism (2016, co-edited with Simon Springer and Julie MacLeavy); and Innovation, Regional Development and the Life Sciences: Beyond Clusters (2016).
Caroline Shenaz Hossein is an assistant professor in the Business and Society programme in the Department of Social Science at York University, Canada. She is the author of Politicized Microfinance: Money, Power and Violence in the Black Americas (2016).
Mark Peacock is professor in the Business and Society programme at York University, Canada. His research interests include the philosophy of economics and the theory and origins of money. He recently published the book Introducing Money (2013).
Alberto Salazar is an assistant professor in the Department of Law and Legal Studies at Carleton University, Canada. His most recent publications appear in the American Journal of Comparative Law and Osgoode Legal Studies Research Papers.
Sonya Scott is a sessional assistant professor in the Business and Society programme at York University, Canada. She is the author of Architectures of Economic Subjectivity: The Philosophical Foundations of the Subject in the History of Economic Thought (2013).
Richard Wellen is an associate professor in the Business and Society programme at York University, Canada. His recent research deals with the political economy of higher education as well as transformations and alternatives in scholarly publishing markets. His books include Making Policy in Turbulent Times: Challenges and Prospects for Higher Education (2013, co-edited with Paul Axelrod, Theresa Shanahan and Roopa Deesai-Trilokekar).
Table of Contents
Section Title | Page | Action | Price |
---|---|---|---|
Front cover | Front cover | ||
About the book | i | ||
Title page | iii | ||
Copyright | iv | ||
Contents | v | ||
Tables and figures | vi | ||
Acknowledgements | vii | ||
A note on authorship | viii | ||
Introduction: a critical introduction to business and society | 1 | ||
Introduction | 1 | ||
Definition: Business | 1 | ||
Definition: Society | 1 | ||
The market triumphant? | 2 | ||
Key concept: The market | 3 | ||
Definition: Free trade | 4 | ||
Why business and society? | 5 | ||
Key organization: The (public) corporation | 6 | ||
Our approach in this book | 7 | ||
Key concept: ‘Property is theft’ | 9 | ||
Bibliography | 10 | ||
1. The emergence of capitalism in Western Europe | 12 | ||
Introduction | 12 | ||
Key thinker: Adam Smith | 12 | ||
Key discussion questions | 13 | ||
Marxist approaches | 13 | ||
Key thinker: Karl Marx | 13 | ||
Definition: Feudalism | 14 | ||
Max Weber and the Protestant ethic | 19 | ||
Key thinker: Max Weber | 19 | ||
Conclusion: Marx, Weber and historical materialism | 23 | ||
Key methodological issue: Historical materialism | 23 | ||
Suggested readings | 24 | ||
Bibliography | 24 | ||
2. The spread of capitalism | 26 | ||
Introduction | 26 | ||
Key discussion questions | 27 | ||
Mainstream perspectives | 27 | ||
Key concept: Age of ‘Discovery’ | 28 | ||
Key thinkers: Classical political economy | 29 | ||
Critical perspectives | 31 | ||
Key thinker: David Ricardo | 32 | ||
Case study | 37 | ||
Empirical example: the British Empire | 37 | ||
Key organization: Joint-stock company | 38 | ||
Conclusion | 39 | ||
Suggested readings | 40 | ||
Bibliography | 40 | ||
3. The corporate revolution | 42 | ||
Introduction | 42 | ||
Key discussion questions | 43 | ||
Mainstream perspectives | 43 | ||
Definition: Legal personhood | 44 | ||
Key concept: Grant theory of the corporation | 45 | ||
Key concept: Invisible hand vs. visible hand? | 47 | ||
Critical perspectives | 48 | ||
Definition: General incorporation | 50 | ||
Definition: Limited liability | 50 | ||
Case study | 51 | ||
Key methodological issue: Organization vs. institution? | 53 | ||
Conclusion | 54 | ||
Suggested readings | 55 | ||
Bibliography | 55 | ||
4. Corporate governance | 57 | ||
Introduction | 57 | ||
Key discussion questions | 58 | ||
The shareholder primacy model | 58 | ||
Stakeholder models of corporate governance | 61 | ||
Empirical example: executive pay in Japanese corporations | 66 | ||
Conclusion | 67 | ||
Suggested readings | 68 | ||
Bibliography | 68 | ||
5. Corporate responsibility | 71 | ||
Introduction | 71 | ||
Key concept: Corporate social responsibility (CSR) | 72 | ||
Mainstream perspectives on corporate responsibility | 72 | ||
Key discussion questions | 73 | ||
Critical perspectives on corporate responsibility | 79 | ||
Empirical example: investment banks and the global financial crisis | 82 | ||
Conclusion | 84 | ||
Suggested readings | 84 | ||
Bibliography | 85 | ||
6. Corporate power | 87 | ||
Introduction | 87 | ||
Key concept: Corporate power | 88 | ||
Key discussion questions | 88 | ||
Mainstream perspectives | 88 | ||
Key methodological issue: Measuring corporate power | 90 | ||
Critical perspectives | 91 | ||
Empirical example: Enron and other corporate scandals | 97 | ||
Conclusion | 98 | ||
Suggested readings | 99 | ||
Bibliography | 99 | ||
7. Global economy and varieties of capitalism | 101 | ||
Introduction | 101 | ||
Key concept: Time-space compression | 101 | ||
Definition: International financial institutions | 102 | ||
Key organization: Multinational corporations and multinational enterprises | 102 | ||
Key discussion questions | 103 | ||
Mainstream perspectives | 103 | ||
Key methodological issue: Identifying world regions | 104 | ||
Key methodological issue: Gross domestic product | 106 | ||
Definition: Foreign investment | 106 | ||
Critical perspectives | 107 | ||
Key global institutions: Bretton Woods System | 108 | ||
Definition: The nation-state | 109 | ||
Definition: UN Global Compact | 110 | ||
Key concept: Neoliberalism | 111 | ||
Empirical example: the ‘BRICS’ countries | 112 | ||
Key methodological issue: Global value chains | 113 | ||
Conclusion | 114 | ||
Suggested readings | 114 | ||
Bibliography | 115 | ||
8. Global governance | 116 | ||
Introduction | 116 | ||
Definition: Governance | 117 | ||
Key discussion questions | 118 | ||
Mainstream perspectives on global governance | 118 | ||
Key global institution: ‘Gold standard’ | 121 | ||
Critical perspectives on global governance | 125 | ||
Conclusion | 129 | ||
Suggested readings | 129 | ||
Bibliography | 130 | ||
9. Global environmental change | 132 | ||
Introduction | 132 | ||
Definition: Anthropogenic climate change | 133 | ||
Key discussion questions | 134 | ||
Mainstream perspectives | 134 | ||
Key thinker: Barry Commoner and the ‘four laws of ecology’ | 134 | ||
Key methodological issue: Defining ‘sustainable development’ | 136 | ||
Definition: Externalities | 137 | ||
Definition: Market failure | 138 | ||
Case study | 139 | ||
Critical perspectives | 139 | ||
Definition: Techno-fix | 141 | ||
Definition: Jevon’s Paradox | 141 | ||
Empirical example: climate change as an intractable global challenge? | 144 | ||
Key methodological issue: Climate change denial – who to trust in climate debates? | 146 | ||
Conclusion | 146 | ||
Suggested readings | 147 | ||
Bibliography | 147 | ||
10. Markets and economic order | 149 | ||
Introduction | 149 | ||
Key economic system: Centrally planned economy | 150 | ||
Key discussion questions | 150 | ||
Different economic orders | 150 | ||
Do markets create social order? | 155 | ||
Key thinker: Friedrich Hayek | 156 | ||
The internal division of labour | 157 | ||
Types of economic order: from society to the business organization | 160 | ||
Conclusion | 161 | ||
Suggested readings | 162 | ||
Bibliography | 162 | ||
11. Economics, capitalism and business: the orthodoxy | 163 | ||
Introduction | 163 | ||
Key discussion questions | 163 | ||
The mainstream perspective | 164 | ||
Key critique: Going beyond ‘rational economic man’ | 167 | ||
Definition: Political economy and economics | 168 | ||
Key concept: The Marginalist Revolution | 169 | ||
Key thinker: Vilfredo Pareto | 171 | ||
Critical perspectives | 173 | ||
Key concepts: Freedom and coercion | 174 | ||
Conclusion | 176 | ||
Suggested readings | 177 | ||
Bibliography | 177 | ||
12. Political economy and critiques of capitalism: heterodox perspectives | 179 | ||
Introduction | 179 | ||
Key discussion questions | 180 | ||
Dominant heterodox perspectives | 180 | ||
Key concept: ‘Conspicuous consumption’ | 183 | ||
Alternative heterodox perspectives | 185 | ||
Key concept: Social reproduction | 187 | ||
Case study | 190 | ||
Conclusion | 193 | ||
Suggested readings | 193 | ||
Bibliography | 193 | ||
13. Business, regulation and policy | 195 | ||
Introduction | 195 | ||
Key discussion questions | 196 | ||
Mainstream theories of regulation | 196 | ||
Forms of regulation and their challenges | 202 | ||
Different approaches to regulation and policy-making | 204 | ||
Case study | 205 | ||
Conclusion | 208 | ||
Suggested readings | 209 | ||
Bibliography | 209 | ||
14. Ethics and business | 211 | ||
Introduction | 211 | ||
Definition: Ethics and morality | 211 | ||
Key discussion questions | 212 | ||
What is business ethics? | 213 | ||
Key methodological issue: Changing forms of business | 214 | ||
Key ethical issue: How do we learn ethics? The role of the business school | 216 | ||
Understanding ethical theory outside business ethics | 219 | ||
Applying ethical theories to business | 221 | ||
Conclusion | 223 | ||
Suggested readings | 223 | ||
Bibliography | 224 | ||
15. Business and social exclusion | 225 | ||
Introduction | 225 | ||
Definition: Informal economy | 226 | ||
Key concept: Social exclusion | 226 | ||
Key discussion questions | 227 | ||
Untangling mainstream and critical perspectives | 227 | ||
Case study | 228 | ||
Are global firms exclusionary or an opportunity? | 229 | ||
Key concept: Social capital as a contested concept | 230 | ||
Short video: Local women speak out! – Made in Bangladesh | 231 | ||
Can business be a form of resistance? A critical perspective | 232 | ||
Key thinker: Marcus Mosiah Garvey (1887–1940) | 233 | ||
Short video: Organizing business by racially marginalized groups in the United States | 234 | ||
Empirical example: The Arctic Co-operatives Limited, Canada | 236 | ||
Conclusion | 237 | ||
Suggested readings | 238 | ||
Bibliography | 238 | ||
16. Resistance and alternatives to corporate capitalism | 241 | ||
Introduction | 241 | ||
Key discussion questions | 242 | ||
Resistance and revolution | 242 | ||
Definition: Trade union | 244 | ||
Key thinker: Mikhail Bakunin | 244 | ||
Everyday alternatives to corporate capitalism | 246 | ||
Case study | 254 | ||
Conclusion | 255 | ||
Suggested readings | 255 | ||
Bibliography | 255 | ||
17. Social economy | 258 | ||
Introduction | 258 | ||
Key concept: Social economy | 259 | ||
Key discussion questions | 260 | ||
Mainstream perspectives | 260 | ||
Alternative perspectives: the social economy | 262 | ||
Conclusion | 270 | ||
Suggested readings | 271 | ||
Bibliography | 271 | ||
18. Rethinking ownership: the market vs. the commons | 274 | ||
Introduction | 274 | ||
Key discussion questions | 275 | ||
Mainstream perspectives | 275 | ||
Key thinker: John Locke | 277 | ||
Key concept: Intellectual property rights (IPRs) | 279 | ||
Critical perspectives | 280 | ||
Case study | 281 | ||
Key concepts: Rentiership and economic rent-seeking | 283 | ||
Empirical example: intellectual property rights | 286 | ||
Conclusion | 287 | ||
Suggested readings | 288 | ||
Bibliography | 288 | ||
Index | 290 | ||
Back cover | Back cover |