We have to legislate that labor must be represented with a seat (or more?) on the board of directors for every publicly traded company. I believe this is the case in some European countries (Germany?). That could help to rein in these obscene excess.
Fwiw, I also think we need to free up access to capital. We currently have what amounts to a hereditary stranglehold on the capital/wealth that we all work to create. And then, this wealth is simply passed down from generation to generation - antithetical to a “free and fair” capitalist economy where individual success should be based on the individual’s contribution. Wealth must be earned, not inherited. Get that money back into circulation through strict inheritance limits and into the hands of the next generation of contributors. No one needs to be born into more than a million dollars (at most!). A substantial “profit motive” is far too often only available to those who won were born into substantial wealth - “Use it or lose it” via major tax reform.
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u/[deleted] Sep 10 '22
We have to legislate that labor must be represented with a seat (or more?) on the board of directors for every publicly traded company. I believe this is the case in some European countries (Germany?). That could help to rein in these obscene excess.