The article is a critical presentation of two prevailing and colliding models in business ethics. Chronologically the shareholder model arose first and stated that the corporation managers were responsible just towards the owners. Later on a stakeholder model had been formed and claimed that the corporations have certain social responsibilities towards categories of persons inside and outside the corporation whose wellbeing is influenced by its activity. The strengthening of the stakeholder model, as its discussion points out, results in blurring the difference between a state and a corporation. The discussion of the shareholder model through the Friedman's article on the other hand shows that his position could not be judged immoral, as some claim.
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