If you took a business or economics course in the past quarter-century, you were probably taught that the sole purpose of a corporation is to return cash to its shareholders. This widely accepted and seldom challenged idea is a dangerous innovation from the 1960s that radically departs from the centuries-long social contract under which corporations were invented, created, and proliferated. This relatively recent change is responsible for many harmful corporate decisions and disastrous government policies. It is well past time voters and shareholders got our corporations back on their more beneficial and benevolent track.
I could lay out all the historical details and legal arguments here, but I’ve already made the case in a much more accessible and entertaining form. Chapter eight of my first novel, Crimes of Cunning, covers it thoroughly. To help inform the public, I am making that chapter available for free, right here.