Jeffrey Moriarty

The Connection Between Stakeholder Theory and Stakeholder Democracy An Excavation and Defense

In early writings, stakeholder theorists supported giving all stakeholders formal, binding control over the corporation, in particular, over its board of directors. In recent writings, however, they claim that stakeholder theory does not require changing the current structure of corporate governance and further claim to be “agnostic” about the value of doing so. This article’s purpose is to highlight this shift and to argue that it is a mistake. It argues that, for instrumental reasons, stakeholder theorists should support giving all stakeholders control over the corporation, in the form of control over its board. That is, stakeholder theorists should support stakeholder democracy over the status quo. A larger goal of this article is to steer the conversation about stakeholder theory toward questions of governance and control. Stakeholder theorists tend to sidestep these questions, but it is vital that they be addressed.

The Epistemological Argument against Desert

Most contemporary political philosophers deny that justice requires giving people what they deserve. According to a familiar anti-desert argument, the influence of genes and environment on peoples actions and traits undermines all desert-claims. According to a less familiar – but more plausible – argument, the influence of genes and environment on peoples actions and traits undermines some desert-claims (or all desert-claims to an extent). But, it says, we do not know which ones (or to what extent). This article examines this ‘epistemological’ argument against desert. It gives reason to believe that it fails, emphasizing the importance of justice relative to efficiency and attempting to construct a practical way of measuring desert.

IS ‘EQUAL PAY FOR EQUAL WORK’ MERELY A PRINCIPLE OF NONDISCRIMINATION?

Should people who perform equal work receive equal pay? Most would say ‘yes’, at least insofar as this question is understood to be asking whether employers should be permitted to discriminate against employees on the basis of race or sex. But suppose the employees belong to all of the same traditionally protected groups. Is (what I call) nondiscriminatory unequal pay for equal work wrong? Drawing an analogy with price discrimination, I argue that it is not intrinsically wrong, but it can be deceptive, in which case it is wrong.