Stakeholder capitalism: Difference between revisions

Stakeholder capitalism (view source)

1,031 bytes added , 3 June 2022

no edit summary

82,891

edits

@@ Line 43: / Line 43: @@
 But stakeholder capitalism ''codifies'' the [[agency problem]]. It diffuses the executive’s accountability for anything the corporation does, putting the [[professional-managerial class]] beyond the reproach of the one constituent stakeholder group with the necessary means, justification and consensus to call it out: their [[Shareholder|shareholders]].
+===Stakeholder capitalism as disguised shareholder capitalism===
+Maybe that’s what the Business Roundtable meant; maybe not. Maybe they’ve changed their minds. Here's current chair, Jamie Dimon, quoted in the FT:
+{{Quote|“All we’re saying is when we wake up in the morning, what we give a shit about is serving customers, earning their respect, earning their repeat business.”<ref>[https://www.ft.com/content/14fcf2be-067d-49e3-ae6d-814dd6a35abf Stakeholder capitalism is ‘not woke’, says JPMorgan’s Jamie Dimon], ''Financial Times'', 2 June 2022</ref>
+This is no reimagining of the fundamental purpose of a corporation, but just a better view of the old one. If your customers happen not to be, or care about, polar bears, then no need to lose any sleep about polar bears, or give shit about them when you wake up if you do. Your only decision is “whether me caring about polar bears will make more people buy my stuff, and thereby increase my bottom line”. This is untrammeled ''shareholder'' capitalism.
 === '''About those shareholders''' ===