Abstract
AbstractThe articles featured in this Point‐Counterpoint develop provocative and yet contrasting views on the role of corporations in contemporary society: the point by Colin Mayer advocates a view of the corporation as a purpose‐driven institution that can become a vehicle for economic and social prosperity. The counterpoint by Jerry Davis emphasizes the declining role of contemporary corporations, and argues for the need to develop both internal and external corporate democracy. Building on the dialogue between purpose and democracy, this article reflects on the future of the corporation within a society characterized by the pervasive presence of global risks. Four major challenges for corporate purpose and democracy are highlighted: changes in corporate business models, inequality and safety, institutional partnerships, and new forms of corporate social engagement.
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