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View Diary: Could the 2008 Election be Like the 1932 Election? (Part 3) (321 comments)

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  •  Stockholders don't support CEOs any more.... (2+ / 0-)
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    Asak, MA Liberal

    Which is a very interesting development.  Unfavorable comparisons are being made between the US system where CEOs get to write their own salaries and spend corporate money to fight shareholder activism -- and the UK/European system where shareholders actually have some influence.

    -5.63, -8.10 | Impeach, Convict, Remove & Bar from Office, Arrest, Indict, Convict, Imprison!

    by neroden on Sun Dec 16, 2007 at 07:23:09 PM PST

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    •  A natural development though (0+ / 0-)

      Investors have little common cause with the management.  The management bringing down millions to do a bad job, just means the "owners" (the shareholders) get screwed.  As more workers become owners, the interests of that group changes, and that should have an impact on the way the company is run.  

      This is why I take issue somewhat with the idea that in order to achieve change we have to be completely anti-capitalist.  I do not believe it is set in stone that the capitalist system has to be completely unregulated and exploitive.  If you look at corporate attitudes in Europe and Japan, as well as the rest of Asia, they are quite different from here.  

      The problem we have here is not due to corporations per se it's due to our culture of exploitation.  In the end corporations will adapt and do whatever the society demands.  If we work at it, I think we can create a system of Social Capitalism, which respects more than lining the pockets of a few overpaid CEOs.  

      That said, current entrenched corporate interests are a big factor in maintaining the status quo, so that is a problem to some extent.  

      Don't like XOM and OPEC? What have YOU done to reduce your oil consumption? Hot air does NOT constitute a renewable resource!

      by Asak on Sun Dec 16, 2007 at 08:27:38 PM PST

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