Search Results for 'primacy'
“Shareholder Primacy” aka, THE WORLD’s DUMBEST IDEA – Revisited
Groveling to corporations, throwing tax abatements at them and begging them in your city was not the norm prior to the hegemony of “Shareholder Primacy”
Before THE WORLD’s DUMBEST IDEA became business school orthodoxy, many companies had a healthy interest in their country, their communities, and their workers.
In 1970 that was all swept away, and replaced with what we have now – a shitmess.
“Shareholder Primacy” is still killing capitalism
Every once in a while it is worth remembering that the concept of Shareholder Primacy (the theory that the sole purpose of a firm is to make money for its shareholders) is 48 years old, and not some immutable truth that has always existed. Born on September 13, 1970, and still kicking.
The myth of “shareholder primacy” continues to crumble; employers, employees and shareholders win
When I was getting my MBA 10 years ago, the manifold virtues of shareholder primacy were so ingrained in the culture of business academics that, while they informed every bit of the curriculum, they were only discussed in passing. There was no more attention paid this foundational concept than you would pay attention to the concept of addition in a calculus class. Fortunately that is changing.
Lynn Stout, the Distinguished Professor of Corporate and Business Law at Cornell Law School, helps move shareholder primacy into a coffin and provides some coffin nails for the myth that has wrecked our economy in her most recent book, The Shareholder Value Myth: How Putting Shareholders First Harms Investors, Corporations and the Public. This abstract of the book explores the logical connections between the 40 year rise of shareholder value thinking and subsequent declines in investor returns, numbers of public companies, and corporate life expectancy. It also shows that shareholder primacy is an bullshit economic theory, completely lacking in support from history, law, or empirical evidence. [Set aside a few minutes to read the whole thing.]
DL Open Thread: Friday, March 24, 2023
Marcus Henry Vs. Karen Hartley-Nagle: Looks like one of them will be our Next County Executive. Henry is already campaigning, KHN put out an announcement yesterday: “I’m good at what I do, (being sued?) and experience matters,” she says. “And I believe that my experience is what sets me apart. As the president of New […]
Why are young people not joining the Democratic Party?
Is it because the Democratic Party sucks ass? The centrist agenda, which is based on the primacy of the private sector and private markets and the importance of the military and law-enforcement, has left us with a public-health system utterly unable to handle the COVID pandemic. It’s left us with a legacy of racist […]
DL Open Thread: Sat., Nov. 16, 2019
Did The ‘Primacy Effect’ Push Trump Across The Finish Line? Judge rules yet another Rethug vote stealing scheme unconstitutional. Trump’s Tweet Upends R Strategy. It’s one thing trying to defend Trump as a ‘corruption fighter’ in Ukraine. It’s quite another to support him when he demonstrates in real time that he’s the most despicable person […]
Delaware Has a Lot to Fear From Elizabeth Warren
Maybe you saw the story about CNBC shouter Jim Cramer saying Wall Street was freaking out about the possibility of a President Elizabeth Warren, claiming he’s heard a lot of people saying “She’s got to be stopped.” According to this article previewing tonight’s debate, it’s not just Wall Street that should be worried. She’s got […]
April 11 Open Thread: Here Comes Comey
As James Comey’s book release approaches, he’s making the rounds of the TV pundit shows, so take this with a grain of salt: Folks at ABC who were present for his five-hour interview with George Stephanopoulos say they were “stunned” at some of the things he revealed, including his comparison of The Donald to mafia […]
Open Thread – Obama Speech
If something needs fixing, then lace up your shoes and do some organizing.
(CROWD CHEERS)
If you’re disappointed by your elected officials, grab a clip board, get some signatures, and run for office yourself.
Show up, dive in, stay at it. Sometimes you’ll win, sometimes you’ll lose. Presuming a reservoir in goodness, that can be a risk. And there will be times when the process will disappoint you. But for those of us fortunate enough to have been part of this one and to see it up close, let me tell you, it can energize and inspire. And more often than not, your faith in America and in Americans will be confirmed. Mine sure has been.
I’m sad that he isn’t going to be President anymore. A very decent human being. (His complete remarks are below.)
The December 4, 2016 Thread
New York Times: “When Nancy Pelosi, the minority leader of the House of Representatives, called Donald Trump shortly after the Nov. 8 election, they talked about domestic policy and infrastructure. But when Ms. Pelosi raised the specific subject of women’s issues, the president-elect did something unexpected: He handed the phone over to another person in the room — his 35-year-old daughter, Ivanka.”
If John Carney is a Democrat, here is a good way to prove it
The concept of “shareholder primacy” is a cancer that is not only undermining our democracy but is eating away at capitalism itself. While other countries like the UK have passed laws to attempt to address the pernicious effects of shareholder primacy, (requiring company directors to consider the interests of a broad range of stakeholder such as employees, customers, the environment and the community), the US has done nothing.
If John Carney is looking for a way to assert his democratic credentials (and I doubt he is) he couldn’t find a better issue.
Nancy Pelosi Stands up to Theocratic Error and Hate
Theological error from none other than Nancy Pelosi’s highly credentialed (by his organization) Canon Law expert in the Diocese of San Francisco.
Monday Open Thread [1.26.15]
![Monday Open Thread [1.26.15]](http://delawareliberal.net/wp-content/uploads/2014/12/DL.Open_.Thread.Blue_-240x180.png "Monday Open Thread [1.26.15]")
Wall Street Journal: “Potential presidential candidates — top-tier contenders and long-shots alike — have already spent years quietly laying groundwork, building email lists, recruiting staff, and generally doing the scut work of building an organization on which to call if they flip the switch and launch a 2016 campaign. Mr. Biden, who said this week that he is still weighing a presidential run, is one of the few potential candidates with no political organization, nonprofit, foundation, or campaign staff-in-waiting.”
That is because Biden is not running for President, and, according to the Politico article linked inside, is only saying he is considering it in order to be some kind of Plan B in case Clinton dies, implodes, or something else truly horrible happens.
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