Conclusion

Abstract

The modern corporation has become so pervasive in the configuration of contemporary capitalism that it seems inconceivable that it is but one possible form of organizing production. The (redistributive) implications of corporate governance regulation reach far beyond those who are directly affected by a shift in the power relations that constitute the modern corporation. The question, then, is how and why the corporation has come to dominate the very society which generated it (cf. Neocleous 2003)? Has corporate power in contemporary capitalism indeed transcended the control of the state, to the extent that, as Roy argues, ‘like Dr. Frankenstein, the state created a creature which it lost control over and which grew formidable enough to challenge the power of its creator’ (Roy 1997: 280)?