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Currently, companies have to put the needs of shareholders first above all else. It could be changed through legislation that companies need to put the needs o
by multiplegeorges 5y ago
Currently, companies have to put the needs of shareholders first above all else.
It could be changed through legislation that companies need to put the needs of all *stake*holders first.
This would mean chemical companies would have to take into account pollution past what is allowed by regulation, this would mean that Google would have to at least consider the well-being of web users as a whole when making decisions.
And, I believe, this would give people the basis on which to sue a company if they didn't take all stakeholders' interests into account, like creating a program like Jedi Blue.
- leetcrew 5y agoin reality the "needs of shareholders" can be interpreted pretty flexibly. leaving a lot of money on the table in the short term to avoid a substantial loss of trust in the long term is not a breach of fiduciary duty.
- spaced-out 5y ago>It could be changed through legislation that companies need to put the needs of all stakeholders first. The problem is that it's the shareholders who sign off on the CEO, upper management, and their salaries and bonuses. I don't see how you can incentivize people to not put the needs of those who control their paychecks above all else under this model.
- OkayPhysicist 5y agoYou make those same shareholders liable for the crimes of their "employees". It could be as simple as "executing" companies, i.e., nationalizing/simply erasing companies for abusive behaviors, or it could be a more complicated weakening of the limited liability of corporations.