From WSJopinion: “Stakeholder capitalism” empowers unaccountable elites at the expense of free-market nationalism, writes Richard J. Shinder
On August 19, 2019, Business Roundtable redefined its mission, pushing for CEOs to benefit stakeholders, as well as shareholders who own the company. Image: APThese are difficult days for the elites caricatured as “Davos men.” But one might not know it reading the strident remarks coming out of the World Economic Forum last week. Perhaps the globe-trotters in Switzerland ought to ponder what has run amok with today’s version of “globalism,” and there are lessons from history that may help them.
Salesforce chairman and co-CEO Marc Benioff said on Tuesday that “capitalism as we have known it is dead, and this obsession that we have with maximizing profits for shareholders alone has...
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