Introduction

Abstract

This chapter introduces the main argument of the book, according to which firms “see” in a conservative way and embrace a “conservatism of commerce” that requires socioeconomic inequality. It describes the “political theory of the firm” as burgeoning field of study and identifies the questions it aims to address and the challenges it faces. Focusing on how Ronald Coase was talking about firms as “Islands of conscious power” into an ocean of unconscious coordination, it highlights one of the great paradoxes of the political theory of the firm: soon after they were “discovered,” Islands of conscious power surprisingly faded away, since they were erased by an army of economists and neglected by political philosophers. Finally, this chapter lays out the methodological approach adopted in this book.