Posted on 08/16/2018 5:46:35 AM PDT by sickoflibs
Sen. Elizabeth Warren, a Democrat from Massachusetts, introduced legislation on Wednesday that intends to completely upend the idea that companies are only accountable to shareholders.
The Accountable Capitalism Act, as the measure is called, would require corporations with more than $1 billion in annual revenue to get a federal charter of corporate citizenship, which would give it fiduciary responsibilities beyond maximizing shareholder value. As noted by Vox, the senator essentially wants to require corporations to have the same responsibilities under the social contract as the average U.S. citizen.
clip
A host of experts, however, are taking issue with some of Warren’s underlying assumptions, including her understanding of the role of profits.
“Profits measure whether businesses are making good decisions and adding value to society,” Chris Edwards, director of tax policy studies at the Cato Institute and editor of www.DownsizingGovernment.org, told FOX Business. “If American businesses weren’t earning profits, we’d all be in big trouble and our standard of living would fall.”
(Excerpt) Read more at foxbusiness.com ...
A business of any size should attempt to be a good neighbor to the rest of the population. But it should not take a new law to force it.
Yeah but at least greedy corporations are not making huge profits off of selling those things there.
That would be obscene .. What matters most is fairness.
(The Black Marketeers may be)
Atlas’ shoulders are beginning to twitch with fatigue.
Here comes Lizzie Warren, the self proclaimed rock thrower.
This has been done before.
It was called Fasism.
See “The Vampire Economy: Doing Business Under Fascism by Guenter Reimann,
Warren’s legislative proposal is just socialism by any other name.
“As noted by Vox, the senator essentially wants to require corporations to have the same responsibilities under the social contract as the average U.S. citizen.”
“As the average U.S. citizen”??? What in the hell is the Vox author talking about? You’re welfare is my legal responsibility, above my fiduciary responsibilities to my own family???
Elizabeth Warren has lied her way thru life.
Liz ( Pocahontas ) Warren will make sure that the government takes care of them if we all support her.
Yes, Warren’s plan is the opposite of “skin in the game”.
Nassim Taleb tells the story of the Hammurabi Code in Ancient Persia where an architect who designed a bridge was forced to have his family live under that bridge.
Warren is a pure Stalinist — more danger than Bernie in my opinion.
One of the better moves Trump made recently was to take over management of the Consumer Financial Protection Bureau (CFPB), an completely unaccountable federal agency that fining corporation and contributing the fines to Progressive interest groups.
Mulvaney came in there and stopped them.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.