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I've said it before, I'll say it again: all companies should be Public Benefit Corporations. PBCs are companies which, in addition to having a fiduciary duty to
by eximius 8y ago
I've said it before, I'll say it again: all companies should be Public Benefit Corporations. PBCs are companies which, in addition to having a fiduciary duty to their shareholders, may add benefitting the public to their charter.
"Dump our waste in the river which is the water supply in order to save 2% on downstream costs? Sorry investors, no can do. That harms the public."
Make it part of CEOs job to benefit the public instead of make the rich richer. Why would we ever want a company that doesn't benefit the public?
- eximius 8y agoI'd love to hear the reason for the downvotes. I'm not surprised - it is kind of radical - but I am curious why people think its a bad idea. I'm sure there are good reasons, I'm not an economist and I haven't thought about it that deeply for that long.