Source of data in the image: World Bank, stocks traded, turnover ratio of traded shares.
When asked about who should govern companies, the most obvious answer seems to be: the shareholders. And the reason: because they are the owners. Period. Debate closed. Recent discussions about the increased role of other stakeholders, be they the workers, representatives of external interests such as those of the environment or of suppliers, are seen like nice add-ons, little more than an inflexion to a generally valid rule.
I disagree, and believe that the role of the shareholders in the governance of companies should be radically reconsidered.
Continue reading “The shareholders aren’t any more the most legitimate to govern companies”
In his “State of the Union” speech of 13 September 2017, President of the Commission Jean-Claude Juncker expressed his “sympathy” for the idea of trans-national lists in the elections to the European Parliament. This is a courageous move, knowing the reluctance – to say the least – of many nationally-elected politicians towards a proposal that would make them obsolete overnight.
I consider Jean-Claude Juncker to be fundamentally right. The only alternative to populism is trans-national democracy, not the global ploutocracy that we currently are heading towards.
Continue reading “State of Union speech: time for trans-national democracy, at last?”