On the 250th anniversary of The Wealth of Nations, this article explores how Adam Smith’s insights on ownership and incentives illuminate capitalism’s next evolution. Expanding employee ownership—without undermining shareholder governance—could reconnect productivity, responsibility, and prosperity in modern corporations. It could also be pivotal in rescuing our political democracy.
McRitchie 2019 proxy season results are not something I normally report. It feels too much like bragging. I do my work to drive better, more accountable corporate governance. However, the SEC’s Division of Corporate Finance is “considering recommending that the Commission propose rule amendments regarding the thresholds for shareholder proposals under Rule 14a-8.” It is […]
American values were recognized as at risk in 1932 when Adolf Berle and Gardiner Means argued that with dispersed shareholders, ownership has been separated from their control. (The Modern Corporation and Private Property) Ironically, concentration of equities under the umbrella of three or four indexed funds presents an opportunity to end that divide and make companies […]