William Greider has a piece in The Nation talking about the “cult of the CEO” and what to do about it. It’s long but he has some interesting observations and I urge you to read it or perhaps bookmark it for later. “The fundamental perversion is a doctrine that encourages managers to squeeze the other constituent contributors to a corporation’s success–taking away real value from employees, suppliers, supporting communities and even customers–in order to reward the absentee owners. That twisted logic explains the internal destruction familiar to those who work for many (though not all) major corporations, from the researchers to middle managers to assembly-line workers. If this false doctrine survives reform, then CEOs may no longer be ripping off the shareholders so boldly, but society’s larger long-term interests will continue to be sacrificed on the altar of “shareholder value.”
My thoughts? The government should require that representatives of the public be given seats on corporate Boards of Directors.
Let me pose a question: Who is our economy for? I think it’s a dangerous question that leads to lots of useful places. We should get more people asking who is our economy supposed to be for, anyway?