Even though stakeholder theory has been discussed since the 1930s, why has it only become a popular discussion point with firms since the 1980s?

What will be an ideal response?

There is a two part response to this question. After World War II, the world and the United States in particular experienced phenomenal growth in the economy. During this time period, individuals focused on self improvements due to the severe limitations that they had experienced during the Great Depression and World War II. As a result, people were interested in accumulating wealth and material goods to help them improve their standard of living. As the "me" decade of the 1980s evolved, the focus moved to not only material rewards but also social rewards. As a result, people realized that is was in their own self interests to become involved in social programs. The advent of the internet now allowed for real time communications with firms. As a result, individuals asked for transparency and asked for immediate adjustments to actions they did not agree with. It was during this same period that the Internet bubble continued to grow which reinforced the protection of self interests and the disregard of the interests of stakeholders by managers. As a result, the large increase in corporate scandals since a number of CEOs wanted "their piece of the pie". As a result, both stockholders and other stakeholders demanded more accountability of management which led to the current intense interest in stakeholder theory.