Action Quote by Noam Chomsky
“Why not stakeholder action? There's no economic principal that says that management should be responsive to shareholders, in fact you can read in texts of business economics that they could just as well have a system in which the management is responsible to stakeholders.”
About This Quote
Source Interview: Economic Governance, 2022
The speaker argues that firms should be accountable to all stakeholders, not just shareholders, challenging the prevailing shareholder‑centric model.
In simple terms: Management should serve broader stakeholder interests.
Key Takeaway
Prioritize stakeholder responsibility.
Themes
ethics
economics
governance
Mood
critical
analytical
thought‑provoking
Type
political
economic
When to use this quote
- business strategy meetings
- policy formulation
- corporate social responsibility initiatives
Key Concepts
stakeholder theory
corporate responsibility
economic models
Questions to Reflect On
- What mechanisms ensure stakeholder voices are heard?
- How can firms balance profit with broader responsibilities?
A Different Perspective
Stakeholder focus can dilute clear decision‑making and profit goals.
![“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)
