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Friday, December 07, 2007

Corporations have come to have only two goals: to please their shareholders with high profits and to please their customers with low prices

In "Supercapitalism" Reich describes how and why corporations have come to have only two goals: to please their shareholders with high profits and to please their customers with low prices. Other social considerations have taken a back seat.

Although Reich bemoans the lack of broader thinking that this narrow agenda promotes, he doesn't have too many proposals for changing this situation.
One of them is to eliminate the 80+ year old concept that corporations have the same rights as people. Another is to eliminate corporate income taxes and replace it with a higher graduated personal income tax.

I do find Reich's descriptions compelling. It would be interesting to hear other suggestions from your IP readers on how to inject a social conscience into business corner suites.

Dennis Paull
Half Moon Bay, CA
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