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Essays on social contract theory
Social contract theory strengths and weaknesses
Essays on social contract theory
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People have human rights that cannot be denied them, legally, by governments. Do corporations have similar rights? Or do corporations simply have privileges, which can be revoked?
Corporate personhood is an American legal concept that a corporation, as a group of people, may be recognized as having some of the same legal rights and responsibilities as an individual. This changes the relationship between individuals and organizations, enterprises and their administration, and even the government and individuals. Organizations, contracted by governments, are liable to the individuals with the administration going about as a middle person. Corporate personhood permits enterprises to control the administration and utilize it as a delegate to
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Ideally they would take a strict-constructionist line and perceive that the Constitution does not mean companies when it says persons. This technique is improbable for a mixture of reasons, the chief being that the current Supreme Court is a result of the adulterated lawful framework and degenerate presidents and sanction by a degenerate Congress assign nominees. Furthermore, numerous detours have been incorporated with the framework to keep such a case from going to the Supreme Court. We would require a law particularly denying enterprises personhood, yet lawyers and judges have so far taken the perspective that any such law would be outside the permissible limits for nearby purviews. They can't even permit such a law to come up for a vote or submission. Therefore it could be said that corporations do not have the same rights as individuals but merely privileges, which could be revoked in …show more content…
What this basically means is that the individuals who make up society have to give up some of their freedoms and rights to the government by giving the government power and authority over them. In exchange the government protects, cares and provides for these individuals through the rendering of public service. The agreement is entered into freely and in theory the people can always take back the power given to the government. Social license on the other hand can be said to be how a community approves or accepts a project undertaken by a company in their local community. In this instance, the main stakeholder involved is the community as a whole due to the impact of the project on the community. In lieu of the definitions above, it can be said that social license is similar to social contract differing only on the aspect that the contract is between communities and the corporations as opposed to the government. The term social license can be quite deceptive if we consider the literal interpretation of the term. A license is usually a permit you apply for that gives you the right to access, use or do something. In order to get a permit there must be an application process, probably some forms to fill out and sometimes some sort of fee is involved. As rightly
Corporation – “A business organization that exists as a legal entity and provides limited liability to its owners.” (Longenecker, Petty, Palich, Hoy, Pg. 205) The main advantage of a corporation is that the business liability falls onto this entity instead of the individuals that own it. The disadvantages of this organization are found mostly in its formation. A corporation is expensive to create and requires compliance with state
production on equal terms and conditions and under like circumstances. This is industrial liberty and lies at the foundation of the equality of all rights and privileges. . . ." In other words, it is right for government to intervene with the affairs of businesses to stop corruption and better the United States rather than allow wealthy industrialists to take away people's freedom.
At first glance, it seems implausible the word democracy isn't written in the United States Constitution, or in the Preamble of the Constitution, or even in the Declaration of Independence. One would assume a concept so paramount to modern American culture would surely be derived from one of its oldest and most endeared documents. Alas, it is not. The Constitution only specifically mentions two entities, the government and “We the People”. Defining government is an easy enough task, but who are “We the People”? Originally consisting of only white male property owners, eventually adding in other races, income classes, women, and astonishingly, corporations, the definition of “We the People” has evolved numerous times. Corporation is another key term the architects of our government failed to define for us, perhaps that is why it found its way into the phrase “We the People”. A grave dilemma lies in this fallible defining of terms. Granting corporations person-hood legislatively shifts the power of democracy from human interests to corporate interests. This corrosion of human interest can clearly be noted when examining the battle over corporate power highlighted in the court cases of Sebelius v. Hobby Lobby, Citizens United v. Federal Election Commission, and United States v. Sourapas and Crest Beverage Company.
Corporations are thought to have utmost power on shaping how the United States is ran, whether economically, environmentally, or socially. Business dictates in this country how we live, where we live, and unfortunately, if the people of this country are to face good times or bad times. If the economy falters in the United States, which is the foundation of business, then this country will also falter. With this knowledge by big business, the corporations have corporate hegemony; the ability to wield power and the mold making influence on Congress to shape laws and design loopholes for these massive corporations to jump through just in case.
According to Mallor, Barnes, Bowers, & Langvardt (2010) “modern corporation law emerged only in the last 200 years, ancestors of the modern corporation existed in the times of Hammurabi, ancient Greece, and the Roman Empire. As early as 1248 in France, privileges of incorporation were given to mercantile ventures to encourage investment for the benefit of society. In England, the corporate form was used extensively before the 16th century. In the late 18th century, general incorporation statutes emerged in the United States” (p. 1009).
Aside from threatening our freedom, ignoring the differences between personal and corporate privacy results in unusual conclusions. We often make a clear distinction between general corporate rights and personal rights, because they have different meanings and purposes in different contexts. And we rightfully treat humans and corporations differently. For example, individual and corporate taxes are not one in the same. Unlike most individuals, corporations end up saving money each year when it comes to taxation, as Catherine Rampell points out in her opinion article, “Corporations are people. So what if people were corporations?” But in recent years, the United States has accorded corporations more rights on the grounds that they are, in a
A corporation was originally designed to allow for the forming of a group to get a single project done, after which it would be disbanded. At the end of the Civil War, the 14th amendment was passed in order to protect the rights of former slaves. At this point, corporate lawyers worked to define a corporation as a “person,” granting them the right to life, liberty and property. Ever since this distinction was made, corporations have become bigger and bigger, controlling many aspects of the economy and the lives of Americans. Corporations are not good for America because they outsource jobs, they lie and deceive, and they knowingly make and sell products that can harm people and animals, all in order to raise profits.
This particular statute allows for corporations and such to obtain several, but not all, constitutional rights as any person or persons. In particularly own property, sue and be sued under criminal and civil law, enter contests. Moreover, because corporations and such are considerate as “person”, business has the legal rights for its debts and damages. On the contrary, persons who are employed by a particular association are liable for their own misconduct and law-breaking while acting on behalf of a corporation. In addition, corporation has rights for its own actions, has rights such as: limited free speech and to advertise their product ("The Rights of Corporations," 2009). Likewise, businesses have the responsibility to elect a CEO, provide continuity; increase profits, social responsibilities, and manages recourses effectively (“Functions & Responsibilities of a Corporation").
The concept of ”right” correlates to the freedom from intrusion of other person or the government. Individual rights speak about the liberties of each individual to aspire to life and goals without intrusion of other person or government. According to Catholic Social Teaching, violating or compromising other persons’ rights depreciates his or her dignity in the process. In business world, the theme of rights and responsibilities is seen different. Many corporations, starting with the small ones do not govern properly the business and do not distribute fairly the burdens and benefits within organization.
In academic discourse concept reemerged in the 1980s in France and then spread in most European countries, Latin and North America, and Asia. In the beginning of 21st century the social economy is considered as a possibility for a “third way” of development after the collapse of state-controlled economies and the criticism of liberal economies.
The Principle of Separate Corporate Personality The principle of separate corporate personality has been firmly established in the common law since the decision in the case of Salomon v Salomon & Co Ltd[1], whereby a corporation has a separate legal personality, rights and obligations totally distinct from those of its shareholders. Legislation and courts nevertheless sometimes "pierce the corporate veil" so as to hold the shareholders personally liable for the liabilities of the corporation. Courts may also "lift the corporate veil", in the conflict of laws in order to determine who actually controls the corporation, and thus to ascertain the corporation's true contacts, and closest and most real connection. Throughout the course of this assignment I will begin by explaining the concept of legal personality and describe the veil of incorporation. I will give examples of when the veil of incorporation can be lifted by the courts and statuary provisions such as s.24 CA 1985 and incorporate the varying views of judges as to when the veil can be lifted.
Shareholders have right to vote (usually one vote per share owned) on matter such as election of Directors , Fundamental Transactions , Proxy Rules etc.; sell their share at any times to generate profit as well as the right to share in distributions of the company's income, the right to purchase new shares issued by the company, and the right to a company's assets during a liquidation of the company .
Corporate Entrepreneurship can be seen as the process whereby an individual or a group creates a new venture within an existing organization, revitalizes and renews an organization ,or innovates. Zahra’s(1986) definition of corporate entrepreneurship suggests a formal or informal activity aimed at creating new businesses in established firms through product and process innovations and market developments,whereas sathe(1985) defines corporate entrepreneurship as a process of organizational renewal. Corporate Entrepreneurship has emerged as a much needed ingredient contributing towards the growth of any organization under a changing business environment.
When the problem became serious two main views formed: the “narrow” view and the “broader” view, based on different ideas. The “narrow” view is based on the proposition that corporations have no social responsibility and they have only one main purpose, to make a profit (Friedman, 1970). So corporations should remain socially independent and all conflicts must be solved through the individual responsibility concept. On the contrary the “broader” view states that corporations have social obligations as all existing participants of market, persons and entities are tied together and are mutually dependent. So corporations cannot ignore some serious events or problems, which take place, and must help society, as profit is not their single purpose.
According to Carol Padgett (2012, 1), “companies are important part of our daily lives…in today’s economy, we are bound together through a myriad of relationships with companies”. The board of directors remain the highest echelon of management in any company. It is the “group of executive and non-executive directors which forms corporate strategy and is responsible for monitoring performance on the behalf of shareholders” (Padgett, 2012:1). Boards are clearly critical to the operation of companies and they are endowed with substantial power in the statute (Companies Act, 2014). The board is responsible for directing and steering the company. The board accomplishes this by business planning and risk management through proper corporate governance.