Case study: Michael Novak: Capitalism and the corporation - 39942

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The modern business corporation is an original creation of the American imagination. It was first fashioned to extend local markets; then, it became an indispensable means to create a national market. Both American industrialization and capitalism were crucially dependent upon the corporate form of organization. The corporation was not, however, a disembodied "first cause"; it spread in response to concrete economic challenges. But the corporation had first to become a legal instrument before it could be anything else. While the law dealt amply with the internal affairs of corporations, no internal logic dictated the further development of the corporate form. Corporate law, after all, is not a branch of higher mathematics whose cogency requires a series of more elementary operations. External, primarily economic pressures helped generate the corporation. The combined force of those pressures and the nature of American legal thought determined the eventual shape of the modern business corporation. Using Reading 3.5, Michael Novak on Capitalism and the Corporation, answer all of the questions. After reading the document and before answering the questions, initiate your paper with the problem statement; The problem to be investigated is ________________________. 

Your answers should not simply be your opinion. For each answer to each question, include at least one outside, scholarly resource that you can cite that validates your answer.

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Paper- Case study: Michael Novak: Capitalism and the corporation

Outline the Role of the Corporation:
The modern business corporation is an original creation of the American imagination. It was first fashioned to extend local markets; then, it became an indispensable means to create a national market. Both American industrialization and capitalism were crucially dependent upon the corporate for

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