The persistent myth that corporations are legally required to act only in the service of shareholders’ financial interests.
Powerful groups have a vested interest in keeping the myth around, but it doesn’t even pass the smell test— they were more interested in social control with the return to office stuff. Even though productivity is higher and costs are lower with WFH. Even if you argued it served the interest of shareholders as a broad class, without checking for the real estate holdings of the company’s shareholders, they could accidentally assist companies that their shareholders don’t have investments in. Or worse, competing ones.
It goes further. Why not treat employees better to reduce turnover or improve performance? No, of course not. It is used exclusively to justify immoral actions.
The persistent myth that corporations are legally required to act only in the service of shareholders’ financial interests.
Powerful groups have a vested interest in keeping the myth around, but it doesn’t even pass the smell test— they were more interested in social control with the return to office stuff. Even though productivity is higher and costs are lower with WFH. Even if you argued it served the interest of shareholders as a broad class, without checking for the real estate holdings of the company’s shareholders, they could accidentally assist companies that their shareholders don’t have investments in. Or worse, competing ones.
It goes further. Why not treat employees better to reduce turnover or improve performance? No, of course not. It is used exclusively to justify immoral actions.