Corporate Governance Reform - Ideas | 31 comments (31 topical, editorial, 0 hidden)

Re: Corporate Governance Reform - Ideas (4.00 / 2)

It is, but it's a secondary issue. As usual, the primary problem is political - corporations have vast political power, and so does the investor and CEO class.

Comparatively, everyone else has very little.

It's not all that difficult to imagine improved social enterprises, But they will never happen until power is distributed in a more balanced way.

The checks and balances model has potential, but it needs to include checks and balances against corporations, corporate lobbyists and investors.

Currently they have almost unlimited influence and negligible democratic accountability.

Internal democratic accountability is possibly the simplest and most effective way to change that. But you're still stuck with the problem that you can't enforce internal accountability from the outside when lawmakers will never vote against the interests of the corporations who own them.

by ThatBritGuy (thatbritguy (at) googlemail.com) on Mon Nov 14th, 2011 at 08:24:13 AM EST
[ Parent ]

Re: Corporate Governance Reform - Ideas (none / 1)

Yes, that's why I figure something along these lines is but one brick in a comprehensive wall of social and economic reform.

Getting active and effective legal enforcers on the beat is one task, and giving them laws with serious teeth to work with is another. Lowering the bar for what counts as criminal misconduct makes it more likely that cases will be considered worth pursuing, and thus reduces the level of regulatory vigor necessary to pursue enforcement. I think it's a good idea, but alone I acknowledge it to be insufficient.

And, in truth, I think that encouraging regulatory activism and lowering the bar for regulatory bite via new laws and criminal sanctions would be a much more approachable task than the creation of a democratic corporate form.

by Zwackus on Mon Nov 14th, 2011 at 08:30:53 AM EST
[ Parent ]

Re: Corporate Governance Reform - Ideas (none / 1)

Until we have economic democracy, especially in the workplace, what democracy we have is always limited and at risk. Unfortunately, given the vulnerability of public opinion to manipulation, even the fact of economic democracy would be vulnerable to popular overthrow in favor of some smiling sociopath.

"It is not necessary to have hope in order to persevere."

by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Mon Nov 14th, 2011 at 09:29:01 AM EST
[ Parent ]

Corporate Governance Reform - Ideas | 31 comments (31 topical, 0 editorial, 0 hidden)

Top Diaries

Ukraine is an EU candidate

EU Inflation and Russia Sanctions Timeline

Another referendum in Scotland?

Will Sinn Fein Bail Boris Out?

Between a Rock and a Hard Place

Chronicle of a Foretold Election: A Third Round?

The Teflon de Pfeffel Johnson

Merkel Defends Her Legacy and Russia Policy

Recent Diaries

NATO Plans Europe Troops Surge to War Strength

EU Inflation and Russia Sanctions Timeline

Ukraine is an EU candidate

Iran Nuclear Deal and Sanctions

Fascist Jewish Settlers Murder With Impunity

Thorstein Veblen on Leisure Class Government

Confronting Dark Colonial Past In Congo

America In the Age of the Big Lie

Kaliningrad

Five-Eyes Wanted to Rid America of Trump

Another referendum in Scotland?

Will Sinn Fein Bail Boris Out?

After 9/11 Vladimir Putin Was Hot In America

Catch 22: From Georgian War to Ukraine 2022

Between a Rock and a Hard Place

Energiewende and Liberal Policymakers In EU

Merkel Defends Her Legacy and Russia Policy

The Teflon de Pfeffel Johnson

Chronicle of a Foretold Election: A Third Round?

Spain Urges NATO Role Southern Flank

Occasional Series