Essentially, yes. There is rarely any stakeholder decision making, which means profit is the only meaningful driver for corporations. Profits over everything else; any other policy the corporation implements will be removed if it negatively impacts profits and value for shareholders.
Sorta, but it neglects to mention the bottlenecks where power concentrates. There are really only 3 companies in the US that manage retirement funds, and they all own a decent bit of each other.
Also 90% of stock is owned by the top 10% of Americans, so average folks retirement funds don't have the power you might naively assume they do.
2 Comments
Appleseuss@lemmy.world · 2 pts · 1y
Essentially, yes. There is rarely any stakeholder decision making, which means profit is the only meaningful driver for corporations. Profits over everything else; any other policy the corporation implements will be removed if it negatively impacts profits and value for shareholders.
pebbles@sh.itjust.works · 1 pts · 1y
Sorta, but it neglects to mention the bottlenecks where power concentrates. There are really only 3 companies in the US that manage retirement funds, and they all own a decent bit of each other.
Also 90% of stock is owned by the top 10% of Americans, so average folks retirement funds don't have the power you might naively assume they do.