60 Invisible Hand versus Iron Fist

Edifice of Trust Podcast · Oct 10, 2019 · 14m

On August 19, 2019 the CEOs making up the Business Roundtable issued a statement redefining the purpose of a corporation to add new stakeholders such as employees and consumers to the corporation's loyalty in addition to shareholder returns. Expecting praise from the left they got instead a letter from Senator Elizabeth Warren demanding tangible proof of the implementation of their intentions and a pledge to support her legislation to change the structure of capitalism in the United States. The free market has a self-correcting mechanism for when companies make mistakes. The government lacks…