this post was submitted on 02 Oct 2024
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Comes down to money, like every reason every company does anything at all.
Companies need a legally binding duty to serve their employees and the greater public interest before the fiduciary duty to shareholders if you want this to change, which will never happen. If this became law the stock market and all of the wealthiest people would lose vast wealth overnight, and we know they get their share first since they run the show.
Yes it would require the end of capitalism
About as realistic as trying to legally prohibit tigers from eating people.
I agree.
A good half measure would be giving employees a major share of all revenue a business generates and the option to buy shares to re-invest in the company for a bigger long term prospect of future earnings.
Today work is just like rent. You show up and they pay you to be there but ultimately the workers don't get a reasonable share of the fruits of their labors, only the ones who own the company benefit, and those they choose through the board of director decisions to receive disproportional compensation. It's a horrible system that only funnels wealth to the minority at the expense of the majority.
This comparison between bosses and land~~leaches~~lords is a useful one. If you haven't read any Marx, I think you would really appreciate his insights on the exploitative dynamics inherent to capitalism, including the ones you describe. I venture to suggest it would spoil your appetite for half measures.