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Defending the Stockholder Model: A Comment on Hasnas, and on Dunfee’s Mom

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  • Dobson, John

Abstract

Here I synthesize certain ideas presented in two different articles that appeared in the same issue of Business Ethics Quarterly. One article (Hasnas) invokes the stockholder model as a valid normative theory of business ethics, the other article (Dunfee) invokes a marketplace of morality. Both articles imply that the accepted financial-economic view of the firm is a view that can accommodate ethics. I offer empirical support for this view. I also identify the ethic of the stockholder model as a variant on might-makes-right and consider the social acceptance of this ethic as a postmodern phenomenon.

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  • Dobson, John, 1999. "Defending the Stockholder Model: A Comment on Hasnas, and on Dunfee’s Mom," Business Ethics Quarterly, Cambridge University Press, vol. 9(2), pages 337-345, April.
  • Handle: RePEc:cup:buetqu:v:9:y:1999:i:02:p:337-345_00
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