Science vs. Ideology: A Comment on Lynn Stout's New Thinking on "Shareholder Primacy"
AbstractI have never met Lynn Stout. Of course, just like any person even remotely interested in corporate governance and US corporate law, I know her insightful writings. But I do not know her personally. I know for a fact, however, that Lynn Stout is a nice person. And an excessively nice person she must be. Her paper on New Thinking on “Shareholder Primacy” talks about the surge of a new paradigm in corporate law. This is an excessively generous thesis. For we are not witnessing the takeover of an old science by a new one explaining facts better than the old stuff. We are witnessing the surge of a scientific analysis of the legal structure of the firm -and of the role of corporations to structure firms- which is replacing an ideology; not a science. This comment will comment on this ideology and the insightful critique developed by Lynn Stout in her paper.
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Bibliographic InfoArticle provided by De Gruyter in its journal Accounting, Economics, and Law.
Volume (Year): 2 (2012)
Issue (Month): 2 (June)
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Web page: http://www.degruyter.com
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