Companies Shouldn’t Be Accountable Only to Shareholders
Thankfully there’s no chance this bill will ever pass with the current Congress, and even if it did, the Supreme Court would likely strike it down on account of state’s rights.<p>It’s a bill trying to solve the wrong problem with the wrong solution. What value does workers electing their directors add for anybody? Firstly, the idea that director appointments should be political is patently absurd — a directorship is a job with well defined requirements and expectations, which the majority of workers are often completely unqualified to judge. Secondly, what right does the federal government have to dictate the internal governance of corporations? (Answer: explicitly none, as per the tenth amendment of the constitution.) This is such an awful, awful idea. One only needs to look at the government itself to see what happens when leaders are elected, not appointed. There’s a reason the private sector has a reputation for success and efficiency and the government does not... the idea of executives being elected by democratic process is so scary it’s almost comical.<p>Disclaimer: I am extremely skeptical of the motives of Elizabeth Warren and hope she doesn’t come anywhere close to the White House