What a mess.
https://www.aier.org/article/how-destroy-value-work-and-property#.W4QkWGwyAqY.facebook
Silly season is in full bloom for prominent politicians from New England. Two weeks ago, Sen. Elizabeth Warren (D–MA) proposed new legislation that would radically restructure corporate law and governance in the United States — and, in the process, effectively nationalize trillions of dollars’ worth of capital assets. A few days later, Sen. Bernie Sanders (I–VT) announced his plan (as described by The Daily Beast) to “create a 100–percent tax on large employers equal to the amount of federal benefits that the employers’ low–wage workers receive.”
Both of these senators insist that their schemes will enrich poor and working-class families. Both of these senators are wrong.
Consider first Sen. Warren’s proposal. Its core feature is to impose on corporate decision-makers fiduciary duties to promote not only the interests of shareholders (that is, of owners) but also those of so-called stakeholders (that is, of non-owners deemed by government officials to have the same rights as owners to control corporations).
https://www.aier.org/article/how-destroy-value-work-and-property#.W4QkWGwyAqY.facebook
Silly season is in full bloom for prominent politicians from New England. Two weeks ago, Sen. Elizabeth Warren (D–MA) proposed new legislation that would radically restructure corporate law and governance in the United States — and, in the process, effectively nationalize trillions of dollars’ worth of capital assets. A few days later, Sen. Bernie Sanders (I–VT) announced his plan (as described by The Daily Beast) to “create a 100–percent tax on large employers equal to the amount of federal benefits that the employers’ low–wage workers receive.”
Both of these senators insist that their schemes will enrich poor and working-class families. Both of these senators are wrong.
Consider first Sen. Warren’s proposal. Its core feature is to impose on corporate decision-makers fiduciary duties to promote not only the interests of shareholders (that is, of owners) but also those of so-called stakeholders (that is, of non-owners deemed by government officials to have the same rights as owners to control corporations).
