Corporations are making record profits and shareholder wealth is exploding, while wages for typical workers are falling. Why? Because business leaders believe that the purpose of corporations is to maximize shareholder wealth.
Progressives challenge corporate power in many ways: We work to reverse Citizens United and end the dominance of corporate money in politics; we organize in support of the Fight for $15 and the right to form a union; we make antitrust “hip” again.
But changing both how decisions are made within corporations and who has the power to make them should be center to the progressive agenda. We must put the interests of employees, customers, and society on par with the interests of shareholders. A new bill from Senator Elizabeth Warren, the Accountable Capitalism Act, proposes just that.
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