I’d like to take a moment today to talk about why I love @ewarren and why I believe her ideas are critical to America’s future. It starts with saving capitalism. vox.com/2018/8/15/1768…
.@ewarren’s Accountable Capitalism Act embraces corporate personhood to argue that it should entail moral and responsible behavior. In other words, if corporations are people under the law, they should have to follow similar guidelines of good behavior to the ones we do.
This is crucial. Because Accountable Capitalism isn’t about tamping down productivity. It’s about reinvigorating our economy by stopping corporate theft from hollowing us out from the inside.
Accountable Capitalism puts an end to the idea that corporate responsibility ends at the shareholder’s wallet. Businesses are more than value generators for their shareholders. And we should expect business practices that put our values first.
But that’s easy to say. How do we get there? Well, with one of my favorite ideas in economics: codetermination. @ewarren’s plan requires big firms to put workers on their boards. That way, decisions are made about the wellbeing of the company from top to bottom.
And codetermination isn’t just about what’s morally right. It makes business sense. Here’s some research on the matter econstor.eu/bitstream/1041… s3.amazonaws.com/academia.edu.d… jstor.org/stable/2663281
We can have a MORE EQUAL, MORE JUST, MORE PRODUCTIVE, MORE SUSTAINABLE, and MORE EFFICIENT economy.
The choice isn’t between “socialism” or the “freedom” of fully unfettered markets. It’s a choice between a capitalism where prosperity and the American Dream are open to all or a system of theft. We called them robber barons for a reason, y’all.
.@ewarren doesn’t want to shackle anyone or anything. She wants to unleash the full potential of the American people. The Accountable Capitalism Act is about a vision of an America ready to meet the challenges of climate change and inequality with a tidal wave of innovation.
As far as I’m concerned, that’s the American spirit. That’s who we are. This country can lead the world into the next era and change the way we think about what the words possibility and prosperity mean. I’m all in for that. I hope you are, too.
@threadreaderapp unroll please
