Abstract
This chapter sketches the tenets of the old narrative of businesses (a focus on profits) more precisely, and highlights some of the partial suggestions for reform. Then, the authors turn to a set of principles in what has come to be called “stakeholder theory,” and suggest that these stakeholder principles are more useful in understanding how businesses need to operate in the twenty-first century. Finally, the paper also outlines some principles of “Responsible Capitalism.”
Originally published in: Re-Imagining Capitalism, 135–144 © Oxford University Press, 2016
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Freeman, R.E., Parmar, B.L., Martin, K.E. (2023). Responsible Capitalism: Business for the Twenty-First Century. In: Dmytriyev, S.D., Freeman, R.E. (eds) R. Edward Freeman’s Selected Works on Stakeholder Theory and Business Ethics. Issues in Business Ethics(), vol 53. Springer, Cham. https://doi.org/10.1007/978-3-031-04564-6_54
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