HIDDEN TAXATION ON SOCIETY
Dr Ralph Estes, Professor of Business Administration at American University, published a paper, ‘The Public Cost of Private Corporations’ in the journal Advances in Public Interest Accounting in the mid-1990s. Dr Estes argued that corporations do not pay or calculate the costs that their operations impose on society at large. They only pay their internal costs. According to Dr Estes, financial statements of corporations reveal only internal costs to the entity and do not measure or reveal the uncompensated costs to society. Though these costs are difficult to measure they are real to those on whom they are imposed. Social costs should be matched against the benefits obtained.
Dr Estes firmly argued that it is necessary ...
Get Business Ethics and Corporate Governance, Second Edition now with the O’Reilly learning platform.
O’Reilly members experience books, live events, courses curated by job role, and more from O’Reilly and nearly 200 top publishers.
