Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 2 of 2
Full-Text Articles in Law
Catholic Social Thought And The Reality Of The Corporation, Michael Lp Lower
Catholic Social Thought And The Reality Of The Corporation, Michael Lp Lower
Michael LP Lower
The debate about whether society, the corporation and any other type of "universal" has a reality outside of the mind is an old one. Catholic Social Thought (CST) sees the corporation as a community of persons. It has an existence (a life and ability to operate) of its own and is oriented to the good of its participants. This view is contrasted with the nexus of contracts approach, Williamson's Transaction Cost Economics approach and some types of stakeholder theory. It is contended that CST's approach is more realistic.
Christian Anthropology And The Theory Of The Firm, Michael Lp Lower
Christian Anthropology And The Theory Of The Firm, Michael Lp Lower
Michael LP Lower
Catholic social thought (CST), a branch of moral theology, reflects Christian anthropology (an understanding of human nature that draws on Revelation and natural law theory). CST's understanding of what communities (such as the corporation) are for and how they can best achieve their ends are coloured by its anthropological underpinnings. The same, it is argued, is true for economic theories such as the theories of the firm based on Coase. This paper compares Christian anthropology with the implicit anthropology underpinning some of the dominant economic theories of the firm. Differences at this level go a long way to explaining mismatches …