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6 - Corporate Law and the Confusions of Consumer Culture

Published online by Cambridge University Press:  30 April 2018

David Yosifon
Affiliation:
Santa Clara University School of Law
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Summary

In its formative stages, the “spirit of capitalism” was comprehensive discipline, frugality, and savings. Max Weber claimed these values were eased into the economic system with the help of the Protestant religious outlook. But that was a long time ago. The principle systemic imperative in “late capitalism,” or fully-developed capitalism, is not accumulation but consumption. Contemporary policymakers, influenced by the legacy of the economist John Maynard Keynes, perennially insist that consumption must be encouraged in order to fuel development and ensure prosperity. This chapter draws critical attention to the relentless emphasis that this consensus outlook places on spurring consumer demand. We must know what to make of such consumption, and what it is making of us. Understanding what consumerism “means” is essential to a mature assessment of the society we are making for ourselves, and the legacy we are leaving to the future. Consumer culture is a defining feature of modern life. And it is a cardinal normative concern. The principle work of this chapter is to grapple with what corporate law has to do with it.
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Chapter
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Corporate Friction
How Corporate Law Impedes American Progress and What to Do about It
, pp. 121 - 145
Publisher: Cambridge University Press
Print publication year: 2018

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