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New article on Hobbes and the Modern Business Corporation

Claassen, R.J.G. (2020): Hobbes Meets the Modern Business Corporation, in: Polity, https://doi.org/10.1086/712231

Abstract

Political theory today has expanded its scope to debate business corporations, conceiving of them as political actors, not (just) private actors in the market place. This article shows the continuing relevance of Thomas Hobbes’s work for this debate. Hobbes is commonly treated as a defender of the so-called concession theory, which traces the legitimacy of corporations to their being chartered by sovereign state authorities for public purposes. This theory is widely judged to be anachronistic for contemporary business corporations, because these can now be freely formed, on the basis of private initiative. However, a close reading of the crucial passages in Hobbes’s work reveals a more subtle view, which rejects this private/public dualism. Hobbes’s reflections on the companies of merchants of his day provide room for business corporations’ pursuit of private purposes, while keeping them embedded in a public framework of authority. Moreover, by criticizing the monopoly status of these companies, he opens up a way to integrate market failure arguments from modern economics into concession theory. The “neo-Hobbesian concession theory” emerging from this analysis shows how concession theory can accommodate private initiative and economic analysis, and thus be a relevant position in the debate about the modern business corporation.

New article: Legal Thought in Early Modern England. The Theory of Thomas Hobbes

Raffaella Santi (2018):  Legal Thought in Early Modern England: The Theory of Thomas Hobbes, in: Economics World, Vol. 6, No. 5, 384-389

doi: 10.17265/2328-7144/2018.05.005

Description

Thomas Hobbes of Malmesbury (1588-1679) is one of the most influential British philosophers of the seventeenth century. The paper reconstructs Hobbes’s legal theory, focusing on his definition of law (civil law, as he calls it) found in Leviathan, XXVI, 3. The definition is only apparently simple, since it has been interpreted in different ways, especially with regard to the connections with natural law—and the Hobbesian assertion that civil law and natural law “contain each other”. Moreover, the definition of civil law changes in the corresponding paragraph of the Latin version of 1668. What is the meaning of this change? What about the divisions of the law/divisio legis, which—as Hobbes emphasizes—appears in different forms in different writers? Finally, if a good law is “that which is needful, for the good of the people”, what is it that dictates the paths to be followed by the sovereign representative, who is also the supreme legislator, when writing a new law? These are the main problems in Hobbes’s legal thought that the paper will address.