Wednesday, July 10, 2013
Meet A Republican Corporate Governance Crusader
Robert Monks is a member of a dying breed. He is an old fashioned republican who believes in shareholder democracy. He is convinced that large corporations have effectively acquired control over the US government, and that CEO's have captured control over our corporations. That implies that a relatively small group of powerful CEO's run the country. Our electoral system has been corrupted, and shareholders have little interest shareholder democracy. Our large institutional investors, who own most of the stock in US corporations, are passive investors who allow corporate executives to run corporations in their own interest. This article describes some of the efforts that he has been taking to reverse this dynamic. Unfortunately, he is a rare breed who represents an ideal that no longer exists.