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Freeman and Evan: Stakeholder Theory in the Original Position

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  • Child, James W.
  • Marcoux, Alexei M.

Abstract

We argue that the Rawlsian social contract argument advanced for stakeholder theory by R. Edward Freeman, writing alone and with William M. Evan, fails in three main ways. First, it is true to Rawls in neither form, nor purpose, nor the level of knowledge (or ignorance) required to motivate the veil of ignorance. Second, it fails to tailor the veil of ignorance to the fairness conditions that are required to solve the moral problem that Freeman and Evan set out to solve (whereas Rawls’s own use of the device surely tailors the veil of ignorance to the problem of designing a just social order). Third, the argument, considered apart from its claimed Rawlsian pedigree, fails to bolster the stakeholder theory because it fails to demonstrate the rationality of adopting the institutional rules that Freeman and Evan favor.

Suggested Citation

  • Child, James W. & Marcoux, Alexei M., 1999. "Freeman and Evan: Stakeholder Theory in the Original Position," Business Ethics Quarterly, Cambridge University Press, vol. 9(2), pages 207-223, April.
    • Handle: RePEc:cup:buetqu:v:9:y:1999:i:02:p:207-223_00
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    Cited by:

    1. Y. Fassin, 2008. "The Stakeholder Model Refined," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 08/504, Ghent University, Faculty of Economics and Business Administration.
    2. Velamuri, Rama & Venkataraman, Sankaran, 2005. "Why stakeholder and stockholder theories are not necessarily contradictory: A knightian insight," IESE Research Papers D/591, IESE Business School.
    3. Scott L. Newbert & Michael D. Stouder, 2011. "Justice in entrepreneurial organizations," International Journal of Social Economics, Emerald Group Publishing Limited, vol. 38(5), pages 453-465, April.
    4. Lori Verstegen Ryan, 2006. "Foundation and Form of the Field of Business Ethics," Journal of Private Enterprise, The Association of Private Enterprise Education, vol. 22(Spring 20), pages 34-49.
    5. Allen Kaufman & Ernie Englander, 2011. "Behavioral Economics, Federalism, and the Triumph of Stakeholder Theory," Journal of Business Ethics, Springer, vol. 102(3), pages 421-438, September.
    6. Marc Cohen, 2010. "The Narrow Application of Rawls in Business Ethics: A Political Conception of Both Stakeholder Theory and the Morality of Markets," Journal of Business Ethics, Springer, vol. 97(4), pages 563-579, December.
    7. David Rönnegard & N. Craig Smith, 2024. "A Rawlsian Rule for Corporate Governance," Journal of Business Ethics, Springer, vol. 190(2), pages 295-308, March.
    8. Silke Machold & Pervaiz Ahmed & Stuart Farquhar, 2008. "Corporate Governance and Ethics: A Feminist Perspective," Journal of Business Ethics, Springer, vol. 81(3), pages 665-678, September.

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