“THE CORPORATION“BY JOEL BAKEN

“The Corporation“By Joel Baken



Introduction

“The Corporation: The Pathological Pursuit of Profit and Power” is a book written by Joel Bakan. The theme of the book revolves around the argument on account of the corporation's pathological pursuit of profit and power. A renowned law professor and a legal practicing theorist, named as Bakan believes that the corporation is established under law to work and if left unchecked, may leads to different scandals and controversies.

Discussion

From the most dominant and revolutionary analysis of the corporations as a legal economic institution from the peter Ducker's early work on this topic, the author of this book, Bakan backs his premise with the following arguments:

The legally defined mandate of corporation is to pursue without any considerable exception regarding the economic and self interest of the organization, without taken into consideration the harmful consequences it can lead for others. This is something similar to the concept represented by the noble laureate economist Milton Friedman.

The self interests of the cooporation victimize the society and the individuals and in case of any mishap the shareholders can lead the corporations to self destruction as happened in the case of recent Wall Street scandals.

The corporate social responsibility is something which can be taken as good, but usually it is just a posture which acts as a mask to hide the real character and face of the organization.

The Governments have lost their control over the operations rules of the organizations even after realizing the negative character by giving them the liberty resulting in the relaxations for them by legal trials giving them more authority on the societies by means of privatization.

After realizing the fundamental flaws that are present in the bases of corporations, Baken believes that a positive change is still acceptable and circles a far reaching program of pragmatic, realistic and concrete reforms by the help of legal regulations and democratic control over it.

On the basis of extensive research performed by the author the corporation directs detailed interviews with many big fishes such as CEO Hank McKinnell of Pfizer, Nobel Prize-winner Milton Friedman, business guru Peter Drucker, and critic Noam Chomsky of MIT(Book Description, 2003).

Many of us want to know that whether the modern organizational corporations are beneficial to society or not? The answer is both. On the contrary, corporations give employment to many different peoples, manufacture much useful stuff, invent scientific advancements and medical miracles and have American standard of living on a big high.

They produce such movies in which the pop culture is dominant .Some of them rob, defraud and steal their stake holders, expel American employs and open cheap labor factories in the remote areas or out of country. They create pollution and damage the environment, get the political back to get certain benefits and advantages. Their core devotion is to get the maximum profit by any means without realizing that which of them are true or false.

Obviously, the operational strategy of the organizations depends on who's running them and for what ...