Elizabeth Warren submitted an interesting proposal last week. It is called the Accountable Capitalism Act... it would require all corporations over 1 billion in size to obtain a Federal Charter.
The proposal wants to hold corporations as legal persons accountable for achieving social goals, versus their current orientation which is solely for the benefit of shareholders.
Co-determination is an important part of her proposal. 40% of the directors in these corporations would be elected from the work force.
A Federal Corporation would be able to take political sides if 75% of the worker and non worker directors agree.
Interesting idea, already at play in some European countries like Germany.
The articles I"ve read suggest that this proposal would redistribute trillions in wealth.
It is not surprising that some conservative commentators are spitting up misreadings of the proposal.
Sounds interesting. It could help with a lot of the issues.