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But... aren't they? It's one share one vote, not one employee one vote, but I think that still qualifies as democratic. Then, there are elected board members (t
by obastani 8y ago
But... aren't they? It's one share one vote, not one employee one vote, but I think that still qualifies as democratic. Then, there are elected board members (the representatives) who hire the CEO (the prime minister?), etc.
- hobofan 8y agoThat wouldn't fit most definitions of democracy (which would be variations of "every person gets a single equal vote"). Most companies are more of an oligarchy.
- mrep 8y agoNeither is the US. The US is a democratic republic: we vote in congress, the senate, and the president who then make decisions for us on our behalf. Public companies are similar: shareholders vote in board members, who then elect a CEO for the company on our behalf.
- M2Ys4U 8y agoThat is assuming that there's only one share class. Companies often have different classes of membership/shareholder which have different voting powers (or none).