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I think that the American Corporation is not in crisis, and is doing a better job at performing its primary function of benefitting shareholders better than eve
by Excel_Wizard 7y ago
I think that the American Corporation is not in crisis, and is doing a better job at performing its primary function of benefitting shareholders better than ever.
I think, on the other hand, that public benefit corporations and other governance structures are in crisis, because it is evident that they are getting outplayed everywhere you look.
EDIT: Non-profits have been doing well though. It seems easier to go "all in" on a charitable cause, or "all in" on a greedy cause, but combining the two into an amalgamated pro-social gung-ho business (a la public benefit corporations) is not easy to do.
- GcVmvNhBsU 7y agoThe thesis of this article is based around the idea that the primary function of a corporation is not to create wealth for shareholders, but to involve more stakeholders. The crisis is therefore not in profitability of a corporation, which is still rather high; the crisis is in the effects of shareholder primacy on the environment, on labor, and on managers. Which is to say, unemployment is low but so are wages, inequality is high and increasing, and we’re on the verge of a mass extinction event caused by human activity - all this to maximize shareholder returns.
- deleted 7y ago[deleted]
- notfromhere 7y agoShareholder capitalism has a pretty shoddy record for anyone who isnt a shareholder