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The problem, is that isn't true. In practice, save via a very expensive proxy fight, shareholders have almost no actual voice within most corporations. Only t
by roc 17y ago
The problem, is that isn't true. In practice, save via a very expensive proxy fight, shareholders have almost no actual voice within most corporations.
Only the deeply cynical could hold that up as an analogue to democratic government and even they wouldn't say it was a positive state of affairs worth emulating.
there should be a way for people to speak as a group
There is. You just couldn't speak, as a group, through a shell entity that has its own inalienable right to free speech.
Not having freedom of speech equivalent to individuals doesn't imply a complete re-write of corporate law. It simply means that congress can (constitutionally) make laws abridging and regulating corporate speech.
No-one's proposing a change to how we handle corporate fraud and responsibility. I fail to see how the right to free political speech has any bearing on those areas.
- gojomo 17y agoAn 'expensive proxy fight' is still cheaper than the campaigns required to reliably influence an elected government. What's more, shareholders have many other options for influence. They can buy additional shares directly. They can 'exit' -- move their money elsewhere, empowering an alternate organization that does represent them. In the comparison between shareholders and voters, it's not clear to me that it's shareholders who have less influence.