The mercantilist theory began to give way to the theory of free trade and a laissez-faire policy from the government. This policy follows that the government will not discriminate or interfere with imports or exports from its country.
Free trade policies look to promote the trade of goods and services between countries without taxes or tariffs. Also, free trade policies minimize trade-distortions between countries and allow for less regulated access to markets and market information.
As free trade policies were being enacted, so was the definition of a corporation, as defined by Stewart Kyd , who was the author of the first treaty on corporate law in England. He states that a corporation is simply:. The theory of free trade and laissez-faire policies eventually gave way to free-market theory. A free-market system is one in which the prices of goods and services are self-regulated. Essentially, the market and the consumer, entity, company, or corporation purchasing the goods or services will determine a price based on their willingness to buy.
If goods or services are priced too high, no consumer will buy them. Free market systems have evolved into specific forms of capitalism, the dominant economic theory in the United States.
This accumulation of wealth is the implicit purpose for all or most production. Accumulation of capital can be achieved in various ways, including trading time or labor for wages or utilizing private capital for further production, which can be sold on the open market.
Besides, within a capitalist system, individuals can invest their worth to make a profit. This profit motive is most likely to be found in for-profit corporations that look to increase shareholder value.
The above laid down the groundwork for modern-day American capitalism and corporate motive. In essence, the corporate motive has become the maximization of corporate wealth and profit for shareholders through legal means. Though illegal means are sometimes employed and somewhat prevalent in specific industries, large multi-national corporations typically err on the side of caution and legality in order to avoid regulatory suspicion and inquiry. Corporate America in, its purest definition, is simply a collection of corporations that echo a capitalistic ethos of profit above all else.
Some of the words and phrases listed on this site will be understood everywhere Business English is used, but some words and phrases are only used in specific countries. The map below shows where "Corporate America" is most commonly used. The definition for "Corporate America" was last updated in Trending Words Check out the list below for the trending words that people are searching for on this site.
Newest Words Check out the list below for the latest words and phrases added to this site. See More Words. Full Definition of corporate. Other Words from corporate corporately adverb. Examples of corporate in a Sentence We have to change the corporate structure to survive.
He is one of the most powerful men in corporate America. The business is a corporate entity. Recent Examples on the Web The psychic advertised herself as having two decades of experience helping dignitaries and corporate executives to straighten out their lives and achieve happiness.
First Known Use of corporate , in the meaning defined at sense 1a. Learn More About corporate. Time Traveler for corporate The first known use of corporate was in See more words from the same year. Phrases Related to corporate corporate conglomeration corporate welfare.
Corporate America. Term used to direct the blame of something bad somewhere else. Quanta's debut album, and a song by the same name.
The album attacks capitalism and Mr. Bush , along with corporate America no surprise there , the electoral college, and the two-party system.
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