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Social economy and stakeholder theory, an integrative framework for socialization of the capitalism

Listed author(s):
  • José Luis Retolaza


    (Institute of Applied Business Economics (IEAE. UPV/EHU))

  • Leire San-Jose


    (Universidad del País Vasco (UPV/EHU))

In this article we set out to resolve the theoretical foundation of the Social Economy and its permeability with the capitalist economy by integrating the Social Economy paradigm with Stakeholder Theory, thus generating a reciprocal benefit. The alignment of resources and capabilities in accordance with social good, characteristic of the Social Economy, will furnish the ontological perspective of the Stakeholder Theory with a stronger grounding, distancing it from the instrumental perspective. It will also imbue it with a special concern for the social pole, frequently relegated in favour of other stakeholders. Rooting the Social Economy within the Stakeholder Theory makes at least three significant contributions to the former. Firstly, questioning Theory of Property Rights, secondly making it possible to give a systematic foundation to the concept of “families”, and thirdly setting off positive permeability between the Social and the Capitalist Economy. It enables progress in the socialisation of capitalism.

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Article provided by CIRIEC-España in its journal CIRIEC-España, revista de economía pública, social y cooperativa.

Volume (Year): (2011)
Issue (Month): 73 (October)
Pages: 193-211

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Handle: RePEc:cic:revcir:y:2011:i:73:p:193-211
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  1. Jensen, Michael C., 2002. "Value Maximization, Stakeholder Theory, and the Corporate Objective Function," Business Ethics Quarterly, Cambridge University Press, vol. 12(02), pages 235-256, April.
  2. Néron, Pierre-Yves & Norman, Wayne, 2008. "Citizenship, Inc. Do We Really Want Businesses to Be Good Corporate Citizens?," Business Ethics Quarterly, Cambridge University Press, vol. 18(01), pages 1-26, January.
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