ARE CORPORATIONS THE PROBLEM?

Are corporations the problem? Can reforms in the area of corporate responsibility (e.g., more stakeholder governance) lead to any real changes? The goal of the article is to analyse debates concerning the Citizens United case, corporate personhood, the stakeholder theory, the affected interests principle and, finally, deeper fallacies with respect to the rights of capital embedded in Marxism and conventional economic theories of capital and corporate finance. The last analysis considers another institution at the root of the problems of the current economic system: the renting of human beings in the employment relationship – which has also corrupted the original idea of a corporation that dates back to medieval times. Keywords: corporate personhood, employment or human rental relationship, fundamental myth about “ownership of the means of production”, Marxism.