Critical Intuitions in Stakeholder Theory and Political CSR: The Effect of Identity Constituting Values on the Dynamics of Business Ethical Debates

This article addresses questions of fundamental values of business ethics scholars. By tracing the evolution of debates on stakeholder theory and political corporate social responsibility (PCSR) from their beginnings in 1984 and 2006 until the present day, the article demonstrates how these scholarly debates have followed a similar pattern. In both cases, the initial positions, which are more tolerant toward business interests, face critique through theoretical developments and are ultimately surpassed by arguments favouring the reduction of managerial power and the enhancement of decision-making authority among stakeholders and various non-corporate organisations and agents. Referring to the moral psychological theory of Social Intuitionism, the article suggests that a shared moral intuition of scepticism toward managerial elites is characteristic of scholars in the business ethics community. This intuition, however, appears to hinder a fully articulated and genuine debate between perspectives that confer legitimacy on corporations, managerial elites, and market-based economic systems, and those which advocate for stakeholder influence in managerial decisions and a more inclusive economical democracy. Consequently, this tendency contributes to the stagnation of these debates both within academic circles and in public discussions.