
Citizens DisUnited
Passive Investors, Drone CEOs, and the Corporate Capture of the American Dream
by Robert A.G. Monks
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Pub Date Mar 08 2013 | Archive Date Apr 30 2013
Description
Democratic
capitalism—the source of America’s vast wealth, the foundation of our entire
economic system—is threatened as never before, not from without but from
within. Shareholders today no longer own, except in the narrowest legal sense,
the corporations they have invested in. Emboldened by the Supreme Court and
enabled by a compliant Congress and compromised regulators, America’s CEOs have
staged a corporate coup d’état. They, not the titular owners of the businesses,
decide where and how company resources will be deployed, what laws will be
evaded in the pursuit of short-term gain, what offshore havens profits will be
stashed in to avoid taxation, and critically, how lavishly the CEOs themselves
will be compensated.
Far too much of American business is being run for the personal enrichment and
glorification of its manager-kings. This book shows how that happened and
unveils, for the first time, a new study showing that corporations “un-owned”
by their shareholders—corporate “drones”—are far worse corporate citizens and
have significantly lower average shareholder returns than firms in which owners
still exercise authority over management. Manager-kings, it turns out, are bad
both for society and for business itself.
Available Editions
EDITION | Ebook |
ISBN | 9781939282095 |
PRICE | $2.99 (USD) |