In a stunning new mission statement, the Roundtable, which represents nearly 200 of America\u2019s blue-chip companies, downgraded shareholders. According to the Roundtable, the purpose of a corporation will no longer be to conduct business with the sole objective of generating profits for shareholders. Owners of corporations (read: shareholders) will now just be one of five \u201cstakeholders\u201d\u2014 alongside customers, workers, suppliers and communities \u2014 that will call the tune for corporations.<\/p>\n\n\n\n
The Roundtable\u2019s new anti-capitalist mission statement promises to dilute and muffle shareholders\u2019 voices and further politicize corporate governance. In 1848, John Stuart Mill clearly saw where the Roundtable\u2019s road map would lead. In his classic \u201cPrinciples of Political Economy,\u201d Mill wrote: \u201cLaissez-faire, in short, should be the general practice; every departure from it, unless required by some great good, is certain evil.\u201d<\/p>\n\n\n\n
When it comes to economics, businessmen are notorious for talking nonsense. The Roundtable\u2019s statement is a case in point. Any business that isn\u2019t focused on its customers, employees, suppliers and communities does not have its eye on the ball. And that \u201cball\u201d is profits for shareholders.<\/p>\n\n\n\n
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In a stunning new mission statement, the Roundtable, which represents nearly 200 of America\u2019s blue-chip companies, downgraded shareholders. According to the Roundtable, the purpose of a corporation will no longer be to conduct business with the sole objective of generating profits for shareholders. Owners of corporations (read: shareholders) will now just be one of five \u201cstakeholders\u201d\u2014 alongside customers, workers, suppliers and communities \u2014 that will call the tune for corporations.<\/p>\n","protected":false},"author":1,"featured_media":300,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,4],"tags":[],"class_list":["post-100","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-education"],"_links":{"self":[{"href":"https:\/\/demo.mysterythemes.com\/mismo-pro-news\/wp-json\/wp\/v2\/posts\/100","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/demo.mysterythemes.com\/mismo-pro-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/demo.mysterythemes.com\/mismo-pro-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/demo.mysterythemes.com\/mismo-pro-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/demo.mysterythemes.com\/mismo-pro-news\/wp-json\/wp\/v2\/comments?post=100"}],"version-history":[{"count":1,"href":"https:\/\/demo.mysterythemes.com\/mismo-pro-news\/wp-json\/wp\/v2\/posts\/100\/revisions"}],"predecessor-version":[{"id":531,"href":"https:\/\/demo.mysterythemes.com\/mismo-pro-news\/wp-json\/wp\/v2\/posts\/100\/revisions\/531"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/demo.mysterythemes.com\/mismo-pro-news\/wp-json\/wp\/v2\/media\/300"}],"wp:attachment":[{"href":"https:\/\/demo.mysterythemes.com\/mismo-pro-news\/wp-json\/wp\/v2\/media?parent=100"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/demo.mysterythemes.com\/mismo-pro-news\/wp-json\/wp\/v2\/categories?post=100"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/demo.mysterythemes.com\/mismo-pro-news\/wp-json\/wp\/v2\/tags?post=100"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}