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Showing posts from December, 2022

Changing the Corporate Structure

In this article, a corporation is defined as a legal entity describing the large "... Anglo-American publicly traded business corporation as opposed to small, incorporated businesses...." Over time the Supreme Court legitimated this type of capitalist institution. In Dodge v. Ford  (1919), the Supreme Court created the principle, "the best interests of the corporation; that is, the managers and directors of the corporation must put the interests of the shareholders above all other interests. This means that if a CEO or board wished to give donations to a charity, other shareholders can sue and claim that such an action is not in "the best interests of the corporation." The Supreme Court opened the door to a very greedy corporate culture. Over time, corporations grew into large monopolies sometimes gaining 90 percent of an industry's market. Part of their success relates to our federalist system in which every corporation chooses in which state it wishes t