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There Is No Rawlsian Theory of Corporate Governance

Published online by Cambridge University Press:  24 February 2015

Abraham Singer
Abraham Singer*
Affiliation:
University of Toronto
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Abstract:

The major aim of this article is to show that John Rawls’s theory of justice cannot be applied effectively to questions of business ethics and corporate governance. I begin with a reading of Rawls that emphasizes both the critical and pragmatic nature of his theory. In the second section I look more closely at the notion of society’s “basic structure” and its place within Rawls’s theory. In the third section, I argue that “the corporation” cannot be understood as part of this basic structure and is not, therefore, a subject of justice for Rawls or his interpreters. Finally, I show that Rawls’s inability to speak to the corporation is a weakness, regardless of one’s particular view on the corporation. I conclude by considering what Rawls’s theory helps us to understand about the problems involved in integrating corporate governance, business ethics, and political philosophy.

Keywords

RawlsCorporate GovernanceBasic StructurePolitical Philosophy and Business EthicsNormative Stakeholder Theory
Type
Special Section: Social Justice and the Corporation
Information
Business Ethics Quarterly , Volume 25 , Issue 1 , January 2015 , pp. 65 - 92
Copyright
Copyright © Society for Business Ethics 2015 

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