Replacing the liberal subject with the vulnerable one, and the responsive state with the restrained one, exposes the ways in which current corporate jurisprudence is blind to the allocation of resilience in society. Introducing vulnerability theory to corporate law may therefore help to ensure that all stakeholders have equal access to the corporation’s resources and assets.
The laws that apply to market activities have long catered to the interests of seasoned market actors. Who, then, is to watch out for us lay market users?
Given the human condition of inevitable uncertainty and fragility, societal prosperity depends on supporting diversely situated knowledge and inclusive power—not on maximizing rewards for a few seemingly superior winners.
The LPE Blog introduces a particularly effective way to begin ridding the law of neoliberalism: the vulnerability theory.