Reinventing Aristocracy in the Age of Woke Capital
How honourable WASP elites could rescue our civilisation from bad governance by irresponsible corporate plutocrats.
Andrew Fraser’s socio-legal study resurrects the original conception of the modern American business corporation as a little republic. Well into the nineteenth century, the idea of the corporation as a civil body politic played a significant role in the constitutional genesis of civic authority. In our time too, republican ideas can challenge the dictatorship of the economic in corporate governance.
The author’s republican model of corporate governance looks beyond managerial accountability to shareholders. He highlights the responsibility of shareholders for risks imposed upon society at large by the corporations they own. Political responsibility for the adverse consequences of corporate activity must be vested in a new political class of shareholders. A self-selecting aristocracy of substantial shareholders can constitute senatorial elites with the authority to balance the otherwise irresponsible power of corporate managers.
In exploring the contemporary relevance of republicanism to corporate governance, the author discusses the nature of aristocracy and democracy in the era of reflexive modernization; corporations and the economic logic of efficiency; as well as the relationship between risk, responsibility, and the political realities of corporate power.
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| Contents | Foreword: An Aristocracy of Industry? Preface Acknowledgements Introduction to the Second Edition: On Reinventing a Ruling Class Corporations in the Early American Republic The Managerial Revolution and Corporate Plutocracy Resurrecting the Corporation as a Civil Body Politic Woke Capital as Corporate Neo-Communism The Restoration of a WASP Patriciate Chapter 1 Aristocracy and Democracy in the Era of Reflexive Modernisation Introduction The Revolt of the Elites The End of the Democratic Revolution Civilising Capitalism Corporate Governance and Republican Political Theory Chapter 2 Corporations and the Economic Logic of Efficiency Introduction The Erosion Thesis The Inherence Thesis Democratic Capitalism and the Legalised Flight from Responsibility The Economic Interpretation of the Corporate Constitution Agency Theory and Corporate Social Responsibility Economic Behaviour and Political Freedom Dual-Class Common Stock and the Reinvention of Aristocracy Constitutional Choices Chapter 3 Corporations and the Political Realities of Power Introduction The Politics of Corporate Finance The Populist Fragmentation of Finance Capital Accountability versus Responsibility The Power Model of the Corporation Corporations and the Public Policymaking Process Power and Legitimacy in Corporate Governance The Reflexive Modernisation of Corporate Power The Risks of Re-feudalisation Shareholders versus Stakeholders Chapter 4 Corporations and the Constitutional Genesis of Civic Authority Introduction The Evolutionary Thesis The Separation of Power and Authority Law’s Aristocratic Republic The Republican Reformation of the Legal Profession One, Two, Many Little Republics Beyond the Left-Right Dichotomy The Limits on Civil Society: The Progressive Version Limits on Civil Society: The Conservative Version Corporate Property and Civic Virtue Epilogue The Rebel in Paradise Ltd. Summary Conclusion |
|---|---|
| Author | Andrew Fraser |
| Binding | Paperback |
| Languages | English |
| ISBN-13 | 978-1-915755-06-3 |
| ISBN-10 | 1915755069 |
| Number Of Pages | 238 |
| Publication Date | 2022-11-25 |
| Publisher | Arktos Media Ltd |
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