Elizabeth Warren Introduces Senate bill to hold capitalism ‘accountable’
11th December 2024
The Guardian, a Voice of the Crust.
The senator Elizabeth Warren will introduce a bill in Congress on Wednesday aimed at shifting corporations away from “maximizing shareholder value” and towards giving more support to workers and other stakeholders.
The Accountable Capitalism Act proposes a series of reforms to increase corporate responsibility, strengthen the voices of workers and others in corporate decisions and shift companies away from their focus on shareholders.
In the 1980s, the largest corporations in the US dedicated less than half of profits to shareholders, reinvesting the rest into the company, according to a fact sheet on the bill provided by Warren’s office to the Guardian.
Apparently an attempt to codify into law the progressive notion that businesses don’t exist to make money for their owners but rather to provide jobs and assist in social engineering by the government.