Toward a More Democratic System of Corporate Governance
“It should be unsurprising then that the interests of employees, shareholders, and other stakeholders are, at best, secondary to those of executives.
“As Harvard Law Professor Mark Roe succinctly phrased it, “the US is managerialist, not capitalist.”
“Current governance arrangements have had an enormous impact on the larger economy and on the distributive features of American capitalism.
“Excessive risk-taking, stagnating wages, and the spike in executive compensation can all be linked back to a system of corporate governance that privileges management’s interests at the expense of other actors.”
[It should be unsurprising… hmmm]
Although, let’s be fair.
Let’s target our criticism.
Some CEO’s revert to an exchange.