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What we have now is public firms where the governance is under the control of the CEO and board of directors, not the stockholders. This is anti-democratic.

It may be, but if you read Galbraith's The New Industrial State is seems like a natural development.

A vivid image of what should exist acts as a surrogate for reality. Pursuit of the image then prevents pursuit of the reality -- John K. Galbraith

by Migeru (migeru at eurotrib dot com) on Sun Sep 21st, 2008 at 08:54:10 AM EST
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