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For Profit: A History of Corporations

For Profit: A History of Corporations

By William Magnuson

We have long been suspicious of corporations recklessly pursuing profit and amassing wealth and power. But the story of the corporation didn't have to be like this: for most of history, they were not amoral entities, but public institutions designed to promote the societies that granted them charter. What happens in this next chapter of the global economy depends on whether we can return to their public-minded spirit, or whether we have sunk irrevocably into the swamp of high profit at all costs.

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Book Information

Publisher: Basic Books.
Publish Date: 11/08/2022
Pages: 368
ISBN-13: 9781541601567
ISBN-10: 1541601564
Language: English

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A history of how corporate innovation has shaped society, from ancient Rome to Silicon Valley From legacy manufacturers to emerging tech giants, corporations wield significant power over our lives, our economy, and our politics. Some celebrate them as engines of progress and prosperity. Others argue that they recklessly pursue profit at the expense of us all. In For Profit, law professor William Magnuson reveals that both visions contain an element of truth. The story of the corporation is a human story, about a diverse group of merchants, bankers, and investors that have over time come to shape the landscape of our modern economy. Its central characters include both the brave, powerful, and ingenious and the conniving, fraudulent, and vicious. At times, these characters have been one and the same. Yet as Magnuson shows, while corporations haven't always behaved admirably, their purpose is a noble one. From their beginnings in the Roman Republic, corporations have been designed to promote the common good. By recapturing this spirit of civic virtue, For Profit argues, corporations can help craft a society in which all of us--not just shareholders--benefit from the profits of enterprise.

About the Author

William Magnuson is a professor at Texas A&M Law School, where he teaches corporate law. Previously, he taught law at Harvard University. The author of  Blockchain Democracy , he has written for the  Wall Street Journal ,  Washington Post ,  Los Angeles Times ,   and  Bloomberg.

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