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Science vs. Ideology: A Comment on Lynn Stout's New Thinking on "Shareholder Primacy"

Science vs. Ideology: A Comment on Lynn Stout's New Thinking on "Shareholder Primacy" I have never met Lynn Stout. Of course, just like any person even remotely interested in corporate governance and US corporate law, I know her insightful writings. But I do not know her personally. I know for a fact, however, that Lynn Stout is a nice person. And an excessively nice person she must be. Her paper on New Thinking on “Shareholder Primacy” talks about the surge of a new paradigm in corporate law. This is an excessively generous thesis. For we are not witnessing the takeover of an old science by a new one explaining facts better than the old stuff. We are witnessing the surge of a scientific analysis of the legal structure of the firm -and of the role of corporations to structure firms- which is replacing an ideology; not a science. This comment will comment on this ideology and the insightful critique developed by Lynn Stout in her paper. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Accounting, Economics and Law de Gruyter

Science vs. Ideology: A Comment on Lynn Stout's New Thinking on "Shareholder Primacy"

Robé, Jean-Philippe
Accounting, Economics and Law , Volume 2 (2) – Jun 8, 2012
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Publisher
de Gruyter
Copyright
Copyright © 2012 by the
ISSN
2152-2820
eISSN
2152-2820
DOI
10.1515/2152-2820.1060
Publisher site
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Abstract

I have never met Lynn Stout. Of course, just like any person even remotely interested in corporate governance and US corporate law, I know her insightful writings. But I do not know her personally. I know for a fact, however, that Lynn Stout is a nice person. And an excessively nice person she must be. Her paper on New Thinking on “Shareholder Primacy” talks about the surge of a new paradigm in corporate law. This is an excessively generous thesis. For we are not witnessing the takeover of an old science by a new one explaining facts better than the old stuff. We are witnessing the surge of a scientific analysis of the legal structure of the firm -and of the role of corporations to structure firms- which is replacing an ideology; not a science. This comment will comment on this ideology and the insightful critique developed by Lynn Stout in her paper.

Journal

Accounting, Economics and Law – de Gruyter

Published: Jun 8, 2012

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