I think we learned a couple of important things this week:

[PatrickforO]

48. If you think it through, the single biggest problem in capitalism is

fiduciary responsibility in publicly held companies. That is what causes big corporations to be so corrosive and destructive.

If you already knew this, forgive me, but if you are the CEO of a publicly held company, your ONLY responsibility is to increase earnings for shareholders. That's it. This is why corporations pollute, drive wages down, bust unions and screw consumers by changing the packaging to hold less product but charging the same price. This is why, for instance, Bayer/Monsanto continues to produce and sell Round Up, though it is a known carcinogen. This is why the dirt-bag Shkreli raised the price of that drug something like 7500%.

I believe we could immediately improve this by forcing changes in corporate charters to expand fiduciary responsibility beyond shareholders to workers, consumers, and the environment.

Do this, and suddenly the big corporations aren't as evil.

There's a really cool website and monograph called 'Regenerative Capitalism' you should check out. It highlights many really good things that are happening at the local level, and is actually where I got this idea about expanding fiduciary responsibility.