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He does not have that responsibility at all. Fiduciary duty in the sense you describe it is a myth and a very dangerous and damaging myth that absolves CEOs of
by eagsalazar2 8y ago
He does not have that responsibility at all. Fiduciary duty in the sense you describe it is a myth and a very dangerous and damaging myth that absolves CEOs of all kinds of bad behavior. I would agree that he risks decrease in his stock value if it is perceived that isn't a single-minded ruthless capitalist but that still doesn't absolve CEOs of moral responsibility in these matters.
Having said all that I still agree with his approach. I'm not a big fan of artificially distorting the market (vs providing better social/community services which I am a fan of)
- Godel_unicode 8y agoThat duty is very real. https://onlinelibrary.wiley.com/doi/pdf/10.1111/basr.12108 https://onlinelibrary.wiley.com/doi/pdf/10.1111/basr.12108
- Zarath 8y ago> distorting the market the realities of the labor "market" are far from a perfect market, mostly because of the massive leverage imbalances between employer and employee (e.g. it's a lot easier for amazon to replace a singular employee than for that employee to find another job). You're not distorting the market by leveling the playing field, in fact it may be you are un-distorting it.