This extended Review Article assesses the changing role of the corporation in history, using the 2018 book by Oxford scholar Colin Mayer entitled ‘Prosperity’ as a basis for the analysis. This is a traditional review article centred around the Mayer book, but as we end we take our argument, albeit tentatively, to other related issues, beyond the Mayer argument. The corporation may be viewed in a positive sense as a creator of wealth and ‘prosperity’ for society in general, or as in a negative sense as generating ‘prosperity’ only for the few, shareholders and executives at the expense of the many, including workers, customers and future generations. Colin Mayer’s book visits both sides of this ‘prosperity’ equation and the title of the book derives from this recognition. Our argument is that even within the limits of contemporary neo-liberal global capitalism, corporations could be a force for more sustainable and balanced economic growth, as well as for social and environmental good. This requires a clarification of its ‘purpose’ as well as changes in the composition of its decision-making structures and revised mandates of its boards and sub-committees such as its remuneration committees that often have been given the power alone to determine executive pay. But we argue (albeit only suggestively) in the final section that the nature and variety of capitalism itself may have to be addressed alongside firm level changes for the long-term good and sustainability of a more equal society. Mayer shows that since its birth in Roman times, as an agency for promoting public works and the public good, the corporation has taken on many different roles, with varying purpose. Only in the last 50 years has the Milton Friedman doctrine, that companies should have only one role, of maximizing shareholder wealth, become the dominant explanation for the purpose of the corporation. We are not confident that corporations will voluntarily move in these progressive directions, especially given the continuing stranglehold of neo-liberal globalization. A push for broader social and economic change from below through struggle may be essential.

JEL Codes: B1, N1, M14

这篇扩展的评论文章评估了公司在历史上不断变化的角色，使用牛津学者科林·梅耶 (Colin Mayer) 2018 年出版的题为“繁荣”的书作为分析的基础。这是一篇以 Mayer 书为中心的传统评论文章，但当我们结束时，我们将我们的论点，尽管是试探性的，超越了 Mayer 论点的其他相关问题。公司可以从积极的意义上被视为整个社会财富和“繁荣”的创造者，或者从消极意义上被视为只为少数人、股东和高管创造“繁荣”而牺牲多数人的利益，包括工人、客户和后代。科林·迈耶 (Colin Mayer) 的书探讨了这个“繁荣”等式的两边，而书名正是源于这种认识。我们的论点是，即使在当代新自由主义全球资本主义的范围内，企业也可以成为促进更可持续和平衡的经济增长以及社会和环境利益的力量。这需要澄清其“目的”，并改变其决策结构的组成，并修改其董事会和分委员会（如薪酬委员会）的授权，这些委员会和分委员会通常被赋予单独决定高管薪酬的权力。但我们在最后一部分认为（尽管只是暗示性的）资本主义本身的性质和多样性可能必须与企业层面的变化一起解决，以实现更平等社会的长期利益和可持续性。Mayer 表明，自从它诞生于罗马时代以来，作为促进公共工程和公共利益的机构，该公司承担了许多不同的角色，目的各不相同。直到最近 50 年，米尔顿·弗里德曼（Milton Friedman）学说才成为公司目的的主要解释，即公司应该只扮演一种角色，即最大化股东财富。我们不相信公司会自愿朝着这些进步的方向前进，特别是考虑到新自由主义全球化的持续束缚。通过斗争从底层推动更广泛的社会和经济变革可能是必不可少的。我们不相信公司会自愿朝着这些进步的方向前进，特别是考虑到新自由主义全球化的持续束缚。通过斗争从底层推动更广泛的社会和经济变革可能是必不可少的。我们不相信公司会自愿朝着这些进步的方向前进，特别是考虑到新自由主义全球化的持续束缚。通过斗争从底层推动更广泛的社会和经济变革可能是必不可少的。

JEL 代码： B1、N1、M14