
The Sham of Shareholder Capitalism - howard941
https://www.taxresearch.org.uk/Blog/2019/06/23/the-sham-of-shareholder-capitalism/
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lostmymind66
"The idea that somehow shareholders are at the centre of corporate concern is
shown to be a sham, yet again, by this."

I disagree. Most publicly traded companies are at the whim of their
shareholders. If the stock price takes a dive, they need to make changes
immediately to remedy the situation.

"In essence, we have a form of capitalism that claims to be for shareholders
and yet that is clearly a sham. No wonder it is not working."

How is it not working? We live in the best time with the lowest poverty rates
in the history of humanity. I can open up an account to trade on the stock
market today with very little money.

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howard941
> How is it not working

Enron, Toys 'R Us and Sears shareholders would say that corporate governance
is broken. They'd be right. At one time directors and officers had fiduciary
duties to the corporation that shareholders could enforce, duties such those
barring officers and directors from taking money positions adverse to the
corporation. Now it's extremely difficult for shareholders to bring these
derivative actions and the end result is anything goes but for the most
blatant of corporate opportunity ripoffs.

> We live in the best time with the lowest poverty rates in the history of
> humanity. I can open up an account to trade on the stock market today with
> very little money.

Not sure if the ability to trade stocks with little money is good for anyone
other than the bucket shop worker. I mean you can probably go to your local
convenience store and buy a lottery ticket without an account. But as Dr.
Pangloss said, this is the best of all possible worlds.

