People’s Capitalism?
June 8th, 2009
I heard this term used in something of a derisive sense in connection with new proposals by Senator Schumer and the SEC to open the process for electing corporate directors. There are lots of bells and whistles and a number of issues to be cleared up, but “people’s capitalism”? Are you kidding? People…stockholders, specifically…are the owners. Given the performance of the last several months why on earth wouldn’t we broaden the process for selecting who governs? Maybe the attitude behind this cynical label is part of the case for change? Hmmmmm
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