Tesco
Public Benefit, Incorporated
Article

Public Benefit, Incorporated

Lenore Palladino
Boston Review, 2018
Read the article

Read or listen offline

automatisch generiertes Audio
  • 0.5×
  • 0.75×
  • 1×
  • 1.25×
  • 1.5×
  • 1.75×
1×
automatisch generiertes Audio

Editorial Rating

8

Qualities

  • Eye Opening
  • Bold
  • Overview

Recommendation

The widely held notion that public companies should make decisions based exclusively on shareholder interests is absurd, according to economist Lenore Palladino. She argues that corporations exist by “public permission” and that employees, customers and citizens deserve a say in corporate governance. Her thought-provoking essay does a good job of putting forward these ideas, though she offers few details on how some companies put them into practice. Nonetheless, getAbstract recommends this astute article to CEOs and corporate executives.

Take-Aways

  • A pervasive belief about corporate governance is that its only goal is to increase shareholders’ wealth. 
  • Citizens, through government, make corporations possible, so companies should pursue public objectives, such as bearing the social costs of doing business and benefiting a broader base of stakeholders – employees, clients and society. 
  • Uniform federal incorporation laws are one way to reform mainstream corporate governance. 

About the Author

Lenore Palladino is a senior economist at the Roosevelt Institute

Comment on this summary or Diskussion beginnen

More on this topic

By the same author

8
Article
RIP Shareholder Primacy

    Learners who read this summary also read

    7
    Report
    Measurement, Governance and Long-term Investing
    9
    Video
    A Public Apology
    8
    Book
    Boards That Deliver
    8
    Book
    People Over Profit
    8
    Book
    Resource Revolution
    8
    Book
    Reinventing Organizations

      Related Channels

      Corporate Governance