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Here is a summary of Lynn Stout's arguments about the "Shareholder Value Myth". https://corpgov.law.harvard.edu/2012/06/26/the-shareholder-value-myth/ https://
by rawgabbit 4y ago
Here is a summary of Lynn Stout's arguments about the "Shareholder Value Myth". https://corpgov.law.harvard.edu/2012/06/26/the-shareholder-value-myth/ https://corpgov.law.harvard.edu/2012/06/26/the-shareholder-v...
When I think about corporations trying to maximize profits at the expense of all others, I think of ancient Rome. Rome did maximize profits at the expense of everything else, even enslaving citizens for failing to pay their taxes which was one of the causes of the second servile war. https://en.wikipedia.org/wiki/Second_Servile_War https://en.wikipedia.org/wiki/Second_Servile_War
The idea that corporations should deify shareholders at the expense of society means that shareholders are effectively declaring class warfare against everyone else.