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democratic_capitalism [2019/03/25 13:01] (current)
admin created
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 +====== Democratic Capitalism ======
  
 +Democracy appears to have shifted in favour of multinational firms, with them providing services - and a social contract with citizens - which used to be the domain of government.
 +
 +For capitalism to succeed, it needs the elements of stability that only government can provide. Business needs to work with government to facilitate societal and capitalist demands.
 +
 +The problem with shareholder capitalism is that the firm now only considers the interests of the shareholder,​ without due regard for other functioning elements and other stakeholders. It has created a culture of short-termism.
 +
 +Corporations lobby for their own vested interest, without regard for broader societal improvement.
 +
 +**Wage stagnation** is a growing problem for the working class, but executive wages have grown exponentially,​ creating a social and economic divide.
 +
 +For business to move beyond shareholder capitalism it needs to acknowledge the current situation is not the ideal, and recognise that functions of democracy provide a path forward.
 +
 +===== See Also =====
 +
 +[[income_inequality|Income Inequality]]
 +
 +
 +===== External Links =====
 +
 +https://​democracyjournal.org/​magazine/​51/​democratic-capitalisms-future/​
democratic_capitalism.txt ยท Last modified: 2019/03/25 13:01 by admin