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> law could be changed to make it clear that companies have obligations besides solely delivering "value" to their shareholders There in lies the problem. 'Mak
by screye 7y ago
> law could be changed to make it clear that companies have obligations besides solely delivering "value" to their shareholders
There in lies the problem. 'Making clear' means codifying it in law and speaking of it in explicit terms rather than being abstract moral concepts.
But few want to talk policy. Because policy is hard. Really really hard. Moralizing on the other hand is easy. Similarly, calling a certain policy bad is a lot easier than suggesting a concrete alternative.
If for one, would love to ground all moral arguments in policy, instead of talking about things in thin air. Sure, it will make discussions more laborious, but at least at the end of them we will have gone somewhere.
- PaulDavisThe1st 7y agoAnd yet you seem to be happy with "Public companies have a responsibility to their share holders to maximize profit." being nominally "codified in law". (I say nominally because it's not actually clear that this is codified in law, just that there have been a number of lawsuits that have been decided as if it is).