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Forum nameGeneral Discussion
Topic subjectHmmm. Not to defend corps or anything but isn't the rationale also
Topic URLhttp://board.okayplayer.com/okp.php?az=show_topic&forum=4&topic_id=13343384&mesg_id=13343411
13343411, Hmmm. Not to defend corps or anything but isn't the rationale also
Posted by kfine, Thu Aug-15-19 08:19 PM

complicated by their fiduciary duty to shareholders??... i.e. have to do what is in the business' best interest and thus shareholders' best interest, or something to that effect.

There seems to have been debate in recent years about whether corporate law truly prescribes profit maximization at "any" cost (I just lazily googled and keep coming across references to a quote from the SCOTUS on Burwell vs. Hobby Lobby that "modern corporate law does not require for-profit corporations to pursue profit at the expense of everything else, and many do not do so.").

But ya. At some point I do believe that (at least) a small portion of the blame applies to structural (and cultural) factors. The system governing corporations is in and of itself broken.

Not saying that excuses oppressive greed or anything lol but just thinking that perhaps change must also occur at the statutory and regulatory levels before any real gains will transpire on this issue. Shaming corporations one-by-one will take forever.