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3.96 AVERAGE
3.96 AVERAGE
Quite the eye-opening book if you're not already familiar with how corrupt corporations already are, and if you don't know you need to read this book. If you're already familiar with corporate corruption, read it anyway because there is a lot of horrifying information in here that you may not know.
This book takes you across the world to many third-world countries where living conditions are already poor, and you see people living in situations you believe could not get any worse. Then
corporate swoops in and turn an already bad situation into a full-blown nightmare.
Imagine breathing in air that is slowly killing you and every living creature around you, and you don't even know it until you see the people and animals around you drop lifeless to the ground.
Ever wonder if unwanted ingredients make it into your factory, processed foods?
How does that warm and soft $5 sweater your wearing get made? It's amazing that something so nice can also be sold at such a low price. Would you like to know why?
This book takes you across the world to many third-world countries where living conditions are already poor, and you see people living in situations you believe could not get any worse. Then
corporate swoops in and turn an already bad situation into a full-blown nightmare.
Imagine breathing in air that is slowly killing you and every living creature around you, and you don't even know it until you see the people and animals around you drop lifeless to the ground.
Ever wonder if unwanted ingredients make it into your factory, processed foods?
How does that warm and soft $5 sweater your wearing get made? It's amazing that something so nice can also be sold at such a low price. Would you like to know why?
The names Enron, Arthur Andersen, Bhopal, Lehman Brothers ring a bell for all the wrong reasons. They are corporations, the subject of Bakan's study in this well-argued book.
The corporation's legally defined mandate is to pursue, relentlessly and without exception, it's own self interest, regardless of harmful consequences. In pursuing this mandate, Bakan argues that the modern day corporation checks a diagnostic list of psychopathic traits:
1. Irresponsible: in an attempt to satisfy the corporate goal, everyone is put at risk
2. Manipulative of everything, including public opinion
3. Grandiosity: All corporations claim to be the best
4. Lack of empathy, and asocial tendencies: They are indifferent to victims
5. Refuse to accept responsibility or feel remorse
6. They relate to others superficially, appealing to the public in such a way that isn't representative of what the organization trully is.
In leading a corporation, the manager is legally required to divorce his moral, altruistic and social predilections and have only one conviction: maximisation of shareholder value. Through the lenses of the corporation, it's victims are merely "externalities", for whom the corporation owes no accountability.
Additionally, the architecture of the corporation is such that owners and managers are insulated from legal liability for their transgressions. The corporation, stated Lord Chancellor Edward Thurlow, has "no soul to be damned, no body to be kicked". Hence, corporations worldwide have had recidivist records that would be the envy of the vilest human criminals.
The corporation's activities are seasoned with corporate social responsibility, a moral high ground that is not an end l, but a means to ultimately pursuing shareholder value. Socially responsible actions have to be justified under the guise of, or with the aim of, either short-term or long-term shareholder wealth maximisation. "The law does not say that there are to be no cakes and ale, but there are to be no cakes and ale except such as are required for the benefit of the company. Charity has no business to seat at boards of directors qua charity," stated Lord Bowen.
In the aggregate, Bakan compellingly argues that corporations are a danger to our social fabric and democracy. The book is written with brevity, conciseness, is abundantly researched, and is very readable.
The corporation's legally defined mandate is to pursue, relentlessly and without exception, it's own self interest, regardless of harmful consequences. In pursuing this mandate, Bakan argues that the modern day corporation checks a diagnostic list of psychopathic traits:
1. Irresponsible: in an attempt to satisfy the corporate goal, everyone is put at risk
2. Manipulative of everything, including public opinion
3. Grandiosity: All corporations claim to be the best
4. Lack of empathy, and asocial tendencies: They are indifferent to victims
5. Refuse to accept responsibility or feel remorse
6. They relate to others superficially, appealing to the public in such a way that isn't representative of what the organization trully is.
In leading a corporation, the manager is legally required to divorce his moral, altruistic and social predilections and have only one conviction: maximisation of shareholder value. Through the lenses of the corporation, it's victims are merely "externalities", for whom the corporation owes no accountability.
Additionally, the architecture of the corporation is such that owners and managers are insulated from legal liability for their transgressions. The corporation, stated Lord Chancellor Edward Thurlow, has "no soul to be damned, no body to be kicked". Hence, corporations worldwide have had recidivist records that would be the envy of the vilest human criminals.
The corporation's activities are seasoned with corporate social responsibility, a moral high ground that is not an end l, but a means to ultimately pursuing shareholder value. Socially responsible actions have to be justified under the guise of, or with the aim of, either short-term or long-term shareholder wealth maximisation. "The law does not say that there are to be no cakes and ale, but there are to be no cakes and ale except such as are required for the benefit of the company. Charity has no business to seat at boards of directors qua charity," stated Lord Bowen.
In the aggregate, Bakan compellingly argues that corporations are a danger to our social fabric and democracy. The book is written with brevity, conciseness, is abundantly researched, and is very readable.
challenging
informative
reflective
medium-paced
Super interesting, although I wish there was more depth into the kinds of regulation which could plausibly challenge the status quo.
the doc is fantastic as well. they make great companions.
dark
informative
medium-paced
Easy to read description of the history of corporations.
informative
reflective
medium-paced
informative
reflective
medium-paced
challenging
informative
reflective
slow-paced
informative
medium-paced
dark
informative
sad
medium-paced