2732 shaares
32 private links
32 private links
profit motive destroys long-term value and favours capital over labour
"For the first time, the nonfinancial corporate business sector now consistently spends more on acquiring financial assets than on capital development."
"Rising out of the economic stagnation of the 1970s, shareholder primacy theory refocused corporate management’s understanding of economic value as financial return to shareholders. This theory tilts business decision-making towards returning money quickly and predictably to investors rather than building long-term corporate capabilities, reduces investment in research and innovation, and undervalues American workers’ contribution to production."