Today, critics of the corporation argue for various corporate governance reform proposals to improve the legal, moral, and socially responsible behavior of the corporation. Which of the following is the most convincing argument AGAINST these proposals?
These proposals are inadvisable because corporate managers should never have any duty other than to maximize profits for the shareholders
These proposals are unnecessary because market forces invariably operate to deter any corporate misbehavior
These proposals are unnecessary because existing law already establishes clear standards for what is and is not moral corporate behavior globally
These proposals are inadvisable because they will reduce corporate ability to respond quickly to changing business conditions and therefore will create allocational inefficiency.
