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After the Corporation

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  • Gerald F. Davis

Abstract

Shareholder-owned corporations were the central pillars of the US economy in the twentieth century. Due to the success of the shareholder value movement and the widespread “Nikefication†of production, however, public corporations have become less concentrated, less integrated, less interconnected at the top, shorter-lived, and less prevalent since the turn of the twenty-first century, and there is reason to expect that their significance will continue to dwindle. We are left with both pathologies (heightened inequality, lower mobility, and a fragmented social safety net) and new technologies suitable for being repurposed in more democratic forms. Local solutions for producing, distributing, and sharing can provide functional alternatives to corporations for both production and employment; what is needed is the social organization to match the tools that we already have, or will have shortly. The time for democratic local economic forms prophesied by generations of activists may finally be at hand.

Suggested Citation

  • Gerald F. Davis, 2013. "After the Corporation," Politics & Society, , vol. 41(2), pages 283-308, June.
  • Handle: RePEc:sae:polsoc:v:41:y:2013:i:2:p:283-308
    DOI: 10.1177/0032329213483110
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    Citations

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    Cited by:

    1. Maria L. Goranova & Richard L. Priem & Hermann A. Ndofor & Cheryl A. Trahms, 2017. "Is there a “Dark Side” to Monitoring? Board and Shareholder Monitoring Effects on M&A Performance Extremeness," Strategic Management Journal, Wiley Blackwell, vol. 38(11), pages 2285-2297, November.
    2. Miguel Antón & Florian Ederer & Mireia Giné & Martin Schmalz, 2023. "Common Ownership, Competition, and Top Management Incentives," Journal of Political Economy, University of Chicago Press, vol. 131(5), pages 1294-1355.
    3. Donald Tomaskovic-Devey & Silvia Maja Melzer, 2020. "The organizational production of earnings inequalities, Germany 1995–2010," PLOS ONE, Public Library of Science, vol. 15(9), pages 1-22, September.
    4. Johan S. G. Chu, 2018. "A Theory of Durable Dominance," Strategy Science, INFORMS, vol. 3(3), pages 498-512, September.
    5. Thorgren, Sara & Williams, Trenton Alma, 2023. "Progress without a venture? Individual benefits of post-disruption entrepreneuring," Journal of Business Venturing, Elsevier, vol. 38(3).
    6. Rebecca Mitchell & Yun Shen & Lan Snell, 2022. "The future of work: a systematic literature review," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 62(2), pages 2667-2686, June.
    7. Marco Bettiol & Vladi Finotto & Eleonora Di Maria & Stefano Micelli, 2014. "The hidden side of innovation: why tinkerers matter," Working Papers 08, Department of Management, Università Ca' Foscari Venezia.
    8. François Bonnet & Clément Théry, 2014. "Sociology and political science in the patrimonial society: implications of Piketty's Capital," Working Papers halshs-01060570, HAL.
    9. Sandra Waddock, 2016. "Developing Humanistic Leadership Education," Humanistic Management Journal, Springer, vol. 1(1), pages 57-73, September.
    10. Baines, Joseph & Hager, Sandy Brian, 2021. "The Great Debt Divergence and its Implications for the Covid-19 Crisis: Mapping Corporate Leverage as Power," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, issue Latest Ar.
    11. Li, Fengchun & Liang, Ting & Zhang, Hailian, 2021. "Does economic policy uncertainty affect cross-border M&As? —— A data analysis based on Chinese multinational enterprises," International Review of Financial Analysis, Elsevier, vol. 73(C).
    12. Shaker A. Zahra & Mike Wright, 2016. "Understanding the Social Role of Entrepreneurship," Journal of Management Studies, Wiley Blackwell, vol. 53(4), pages 610-629, June.
    13. Gino Cattani & Roger L. M. Dunbar & Zur Shapira, 2017. "How Commitment to Craftsmanship Leads to Unique Value: Steinway & Sons’ Differentiation Strategy," Strategy Science, INFORMS, vol. 2(1), pages 13-38, March.
    14. Aric Rindfleisch, 2020. "Transaction cost theory: past, present and future," AMS Review, Springer;Academy of Marketing Science, vol. 10(1), pages 85-97, June.
    15. Alex Edmans, 2014. "Blockholders and Corporate Governance," Annual Review of Financial Economics, Annual Reviews, vol. 6(1), pages 23-50, December.
    16. Myriam Ertz & Fabien Durif & Manon Arcand, 2019. "A conceptual perspective on collaborative consumption," AMS Review, Springer;Academy of Marketing Science, vol. 9(1), pages 27-41, June.
    17. Helfen, Markus & Wirth, Carsten, 2020. "Management von Arbeit in pluralen Netzwerkorganisationen: Trends, Deutungen und Handlungsoptionen," Working Paper Forschungsförderung 185, Hans-Böckler-Stiftung, Düsseldorf.
    18. François-Xavier Dudouet & Eric Grémont & Antoine Vion, 2014. ""Bank Centrality" and Money Creation [« Centralité bancaire » et émission monétaire]," Working Papers halshs-01095256, HAL.
    19. Branzei, Oana & Parker, Simon C. & Moroz, Peter W. & Gamble, Edward, 2018. "Going pro-social: Extending the individual-venture nexus to the collective level," Journal of Business Venturing, Elsevier, vol. 33(5), pages 551-565.
    20. Kam Phung & Sean Buchanan & Madeline Toubiana & Trish Ruebottom & Luciana Turchick‐Hakak, 2021. "When Stigma Doesn’t Transfer: Stigma Deflection and Occupational Stratification in the Sharing Economy," Journal of Management Studies, Wiley Blackwell, vol. 58(4), pages 1107-1139, June.

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