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Economic rents at the end of life: for-profit eldercare and the myth of corporate accountability

In: Handbook of Accounting in Society

Author

Listed:
  • Cameron Graham
  • Darlene Himick
  • Pier-Luc Nappert

Abstract

Privatization of healthcare has created lucrative opportunities for corporations to earn economic rents on the care of the elderly. This exposed the elderly to severe health risks during the COVID-19 pandemic. In Canada, deaths from COVID at for-profit eldercare facilities far exceeded the rate normally expected in this age group, and far exceeded the rate of COVID deaths at non-profit and publicly owned eldercare facilities. This chapter examines the institutional mechanisms that were supposed to hold for-profit eldercare corporations in Canada to account, focusing on the two most important systems, healthcare regulation and financial regulation. Corporate accountability failed because of a misrecognition of the “corporate imaginary” as an accountable entity, which enabled these systems of governance to put on a public performance of accountability without imposing significant negative consequences on the corporations responsible for these many deaths.

Suggested Citation

  • Cameron Graham & Darlene Himick & Pier-Luc Nappert, 2024. "Economic rents at the end of life: for-profit eldercare and the myth of corporate accountability," Chapters, in: Hendrik Vollmer (ed.), Handbook of Accounting in Society, chapter 29, pages 415-428, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:21501_29
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    File URL: https://www.elgaronline.com/doi/10.4337/9781803922003.00046
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