There are questions as to whether it should even exist. Who should corporations be responsive to, the management of a corporation? Theoretically they are responsive to the shareholders, but I why not to the so - called stakeholders, the work force and the community? Nothing in economic theory opposes that. Those are social and political decisions.
Why not stakeholder action? There's no economic principal that says that management should be responsive to shareholders, in fact you can read in texts of business economics that they could just as well have a system in which the management is responsible to stakeholders.
The debate corporation is a corporation. It's funded by corporations. It's relayed by media corporations to the public. It's created by the two parties, which are corporations. We should have public presidential debates all over America run by public institutions.
I believe corporations that benefit from everything America has to offer should feel (ph) some sense of responsibility, not just to their biggest shareholders, but to their workers, to their customers, to their communities and, yes, to our country.
Shareholders are sort of like cats; they get herded around, and they follow the leader. With the exception of a few activist shareholders, there are a very rare number of big, important, influential shareholders that like to step up and say there's a problem here, especially when they're making money.
I would rather be responsible and accountable and help to reward the public shareholders going ahead.
Who are businesses really responsible to? Their customers? Shareholders? Employees? We would argue that it’s none of the above. Fundamentally, businesses are responsible to their resource base. Without a healthy environment there are no shareholders, no employees, no customers and no business.
I think corporations should give more attention to this suffering and should wait to invest until there is a responsible government in Burma. I do not think it is a good idea to separate economics from politics; in fact, I do not think economics can be separated from politics It's quite understandable that many business concerns think only about their own profits It's up to the public to put as much pressure as it can on these companies, through shareholder resolutions and public actions.
I do not trust self serving misinformation coming from corporations and their media trolls. I do not trust politicians who are taking millions from those corporations either. I trust people. So I make my music for people not for candidates.
In the early 1970s, Milton Friedman argued that corporations should not be socially responsible because they had no mandate to be; they existed to make money, not to be charitable institutions. But in the economy of the 21st century, corporations cannot be socially responsible, if social responsibility is understood to mean sacrificing profits for the sake of some perceived social good. That's because competition has become so much more intense.
ESG investing often marches under the same banner as 'stakeholder capitalism,' which maintains that corporations owe obligations to a range of constituencies, not only their shareholders.
To break the power of the big corporations, we would propose that the biggest 500 corporations that dominate the rigged economy and political system should be taken into public ownership, and run democratically.
Public trust in both government and corporations is low, and deservedly so.
If power lies more and more in the hands of corporations rather than governments, the most effective way to be political is not to cast one's vote at the ballot box, but to do so at the supermarket or at a shareholders' meeting. When provoked, corporations respond.
Often, what makes my job so exciting is designing for the mother whose dream has been to wear one of my hats at her child's wedding. I feel as responsible for making her feel like a million dollars as I do for somebody in the public eye.
I often say to my assistants, "Never trust anybody," but what I mean is that you should never trust someone else to do a job exactly the way you would want it done.