The Justice of Corporate Governance

business_ethics_highlights_2In the short scholarly article linked below, Welch and Ly offer commentary on Abraham Singer’s 2015 paper, “There Is No Rawlsian Theory of Corporate Governance.” >>>

LINK: Rawls on the Justice of Corporate Governance (by Theodora Welch and Minh Ly for Business Ethics Journal Review [full PDF available for free])

Abraham Singer argues that Rawlsian theories of justice cannot apply to corporate governance and business ethics. On Singer’s view, Rawls regards business corporations as voluntary associations outside of the basic structure, which is the only site where justice applies. In this comment, we show the importance of Rawlsian theory to central questions of corporate governance. The corporation should be considered part of the basic structure, because it is part of society’s system of productive social cooperation. Rawls’ proposal for a property-owning democracy also raises crucial corporate governance issues concerning the proper owners of the firm, and the separation of ownership and control.

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