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Stephen Davis


A “civil economy” will define the ways in which free enterprise restores the confidence of publics around the world. In it, institutional owners accountable to millions of savers push corporations toward sustainable prosperity through socially responsible management. Just as a “civil society” girds democracy, a civil economy depends on engaged shareowners, independent monitors, credible standards and civil society organizations participating in the marketplace. More competitive corporations and national economies naturally evolve when owners are energized, monitors are girded with safeguards against conflict, civil society organizations become a constructive market force, and performance yardsticks help managers and investors gauge real drivers of value. Most of what is needed from government to push civil economy progress is surgical adjustment of regulation and law.

Keywords: Civil Economy, Shareowners, Accounting Standards, Credibility

How to cite this paper: Davis, S. (2003). The civil economy. Corporate Ownership & Control, 1(1), 18-25.