The Corporation by Joel Bakan

The Corporation: The Pathological Pursuit of Profit and Power by Joel Bakan is a book that argues that the modern corporation is a "psychopath". Bakan defines a psychopath as someone who is "selfish, callous, uncaring, and oriented solely towards personal gain". He argues that the corporation is legally structured in such a way that it is forced to behave in this way.
The author begins by tracing the history of the corporation, from its origins in the 17th century to its current form. He argues that the corporation was originally created as a public institution, with the goal of serving the common good. However, over time, the corporation has become increasingly privatized and profit-driven. This is due in part to the rise of shareholder capitalism, which holds that the only responsibility of a corporation is to its shareholders.
Bakan argues that the legal structure of the corporation encourages this kind of behavior. Corporations are granted certain legal rights, such as limited liability and the ability to sue and be sued, that make them very powerful entities. However, they are not held to the same standards of morality and ethics as individuals. This means that they can engage in harmful or destructive behaviour without fear of punishment.
The author cites a number of examples of corporate misconduct, including environmental pollution, product safety violations, and financial fraud. He argues that these problems are not isolated incidents, but are rather symptoms of a deeper problem with the way corporations are structured.
Bakan concludes by calling for a reform of the corporate system. He argues that corporations need to be held to a higher standard of morality and ethics, and that they need to be more accountable to the public. He also argues that we need to find ways to decouple the corporation from the pursuit of profit, so that it can focus on serving the common good.
The Corporation has been praised by some for its insights into the nature of the corporation, but it has also been criticized by others for being too simplistic and for relying on stereotypes. However, it remains an important book that has sparked a debate about the role of corporations in society.
Here are some of the key points made by Bakan in the book:

• The corporation is a legal fiction that is granted certain rights and privileges that are not granted to individuals.
• Corporations are designed to maximize profits, regardless of the consequences.
• Corporations are not held to the same standards of morality and ethics as individuals.
• Corporate misconduct is a widespread problem.
• The corporate system needs to be reformed.

The Corporation is a thought-provoking book that raises important questions about the role of corporations in society. It is a must-read for anyone who is interested in understanding the power and influence of corporations.

Here is the documentary version
Here is an audiobook version