ABSTRACT
As society continues to demand greater corporate accountability, stakeholderism has taken root with the idea that businesses must serve a much broader range of constituencies than just shareholders. This essay explores the complexities of integrating environmental, social, and governance (ESG) concerns into for-profit corporations and posits that corporate managers are inherently ill-equipped to pursue socially conscious behavior due to structural incentives, educational deficiencies, and accountability issues. This essay examines when the essential nature of the corporation requires managers to engage in socially responsible behavior, and it suggests that business managers should be guided unconsciously to engage in socially responsible behavior through positive law, altering market forces, and choice and structuring of business entities.
Chaffee, Eric C, (Un)Conscious Capitalism (September 24, 2024).
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