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In Favour of Economic Democracy

In: Corporate Governance Adrift

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Abstract

Recent corporate governance scandals have brought to the fore the inherent contradictions of a capitalism dominated by financial markets. This challenging book by Michel Aglietta and Antoine Rebérioux argues that capitalism’s basic premise – that companies must be managed in the sole interest of their shareholders – is incongruent with the current environment of liquid markets, profit-hungry investors and chronic financial instability. The authors advocate rather that a company should be managed as an institution where common objectives are developed for all stakeholders, and that this democratic principle should be extended to the management of collective savings to reduce macro-financial instability. These two conditions, they contend, could make contemporary capitalism a vehicle for social progress.

Suggested Citation

  • ., 2005. "In Favour of Economic Democracy," Chapters, in: Corporate Governance Adrift, chapter 9, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:3675_9
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    File URL: https://www.elgaronline.com/view/9781845421373.00017.xml
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    Cited by:

    1. Peter Boettke & Jayme Lemke & Liya Palagashvili, 2015. "Polycentricity, Self-governance, and the Art & Science of Association," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 28(3), pages 311-335, September.
    2. Yasemin Inceoglu, 2006. "Weapons of Mass Destruction? Or, of Mass Deception? Media in Iraq War and After," Working Papers id:375, eSocialSciences.

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