Private Sense, Common Sense?
This article discusses the transformation of the concept of corporations in the contemporary world and how it is driven to be a new contributor to global public goods. Heir to a vision of the company as a simple generator of profit, our society is evolving under the combined pressure of consumers, employees, regulators, but also managers and shareholders, in a world marked by the appearance of public causes, to which companies are summoned to contribute. The article proposes to redefine the corporation on the basis of the value it generates. That will put into perspective the new vision of public policy, as well as corporate strategy, that is emerging.
We are heirs to a tradition that has always pitted the “private” sphere, reign of selfishness, against the “public” one, reign of the public interest. Did Jesus not say: “Render therefore unto Caesar the things which are Caesar's, and unto God the things that are God's”?1 Western thought has constantly structured this separation. While the Reformation (Weber, 1904-1905) rehabilitated the pursuit of profit as an ethical category, it saw no other end in business than satisfying the private sphere.Until recently, this dualism still held sway. In France, Article 1833 of the Civil Code stipulates that a company is solely formed in the interest of its shareholders. Left-wing philosophical currents see corporations as crucibles of oppression, while right-wingers see them simply as generators of profits.This era is fading away. In this article,…