Community Quote by Noam Chomsky
“There are questions as to whether it should even exist. Who should corporations be responsive to, the management of a corporation? Theoretically they are responsive to the shareholders, but I why not to the so - called stakeholders, the work force and the community? Nothing in economic theory opposes that. Those are social and political decisions.”
About This Quote
The quote questions the legitimacy of corporations and argues that their accountability should extend beyond shareholders to include employees, communities, and broader stakeholders, highlighting that economic theory does not forbid such responsibility.
In simple terms: Corporate legitimacy and broader accountability.
Key Takeaway
Corporations should serve multiple stakeholders, not just shareholders.
Themes
Corporate governance
Stakeholder theory
Economic ethics
Social responsibility
Political economy
Mood
Critical
Analytical
Thought‑provoking
Type
Philosophical
Political
Economic
When to use this quote
- Board meetings
- Policy debates
- Community outreach
- Labor negotiations
- Shareholder meetings
Key Concepts
Shareholder vs stakeholder
Corporate purpose
Economic theory limits
Social impact
Practical Applications
- Corporate governance reforms
- Stakeholder engagement strategies
Questions to Reflect On
- Who decides a corporation's primary obligations?
- How can economic theory be reshaped to prioritize social outcomes?
![“If the layman cannot participate in decision making, he will have to turn himself over, essentially blind, to a hermetic elite. ... [The fundamental question becomes] are we still capable of self-government and therefore freedom? Margaret Mead wrote in a 1959 issue of Daedalus about scientists…” quote by Gerald Holton](https://sms4smile.com/quotes/img-quotes/368/gerald-holton-46138_benevolent_if-the-layman-cannot-participate-in-deci_1394613.jpg)
![“I wrote an article about the marine landing [in Haiti] right away, but barely mentioned the oil, because my article would come out two months later and I assumed by then, "of course, everybody knows." Nobody knew. There was a news report in the Wall Street Journal, in the petroleum journals, and…” quote by Noam Chomsky](https://sms4smile.com/quotes/img-quotes/dc5/noam-chomsky-42_articles_i-wrote-an-article-about-the-marine-land_13341.jpg)
![“The social [media channel] isn't about beauty contests and popularity contests. They're a distortion, a caricature of the real thing. It's about trust, connection, and community. That's what there's too little of in today's mediascape, despite all the hoopla surrounding social tools. The promise…” quote by Umair Haque](https://sms4smile.com/quotes/img-quotes/c85/umair-haque-25881_beauty_the-social-media-channel-isn-t-about-bea_1270.jpg)
