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Question: What are your thoughts on Stakeholder Capitalism?
Answer: All of my thoughts about it are negative. Philosophically this is an applied business ethics concept. A contrast between egoism, in moral theory, and forms of altruism and/or collectivism in moral theory become applied to business.
The best way to see this is to consider the status say of a single person in business dealing with a single customer. The stockholder, which say it is, is my business, I will enter into this transaction with this potential customer if it serves my interest; and the assumption is that the customer is also looking after his or her interests. If we both agree, we will do the deal, if not we will go our separate ways.
The stakeholder approach by contrast makes the assumption that one has an obligation to be in business, or if one is already in business, anyone who has a stake, has an equal say in how the business should go, and that sometimes is going to involve some sacrifices on the part of the business owner and that I reject.
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