Social economy and stakeholder theory, an integrative framework for socialization of the capitalism

Retolaza, J.L. and San-Jose, Leire (2011) Social economy and stakeholder theory, an integrative framework for socialization of the capitalism. CIRIEC-España, Revista de Economía, 73. pp. 193-213. ISSN 0213-8093

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Abstract

In this article we set out to resolve the theoretical foundation of the Social Economy and its permeability with the
capitalist economy by integrating the Social Economy paradigm with Stakeholder Theory, thus generating a reciprocal
benefit. The alignment of resources and capabilities in accordance with social good, characteristic of the Social
Economy, will furnish the ontological perspective of the Stakeholder Theory with a stronger grounding, distancing it
from the instrumental perspective. It will also imbue it with a special concern for the social pole, frequently relegated
in favour of other stakeholders. Rooting the Social Economy within the Stakeholder Theory makes at least three significant
contributions to the former. Firstly, questioning Theory of Property Rights, secondly making it possible to give
a systematic foundation to the concept of “families”, and thirdly setting off positive permeability between the Social
and the Capitalist Economy. It enables progress in the socialisation of capitalism.

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