Vision of stakeholder capitalism forgets one key player: the taxman

Vision of stakeholder capitalism forgets one key player: the taxman
Jamie Dimon of JPMorgan Chase chaired the US Business Roundtable

A US business group’s announcement that corporations should think of the greater good is short on detail and boils down to saying, ‘it’s nice to be nice’

There are worrying signs that corporate America may have lost its mind.

Last week, about 180 of the captains of American industry in the American Business Roundtable banded together to define the relationships and accountabilities that executives have when running a company. Up to now, the Roundtable’s principles of corporate governance were based on the premise that corporations exist principally to serve their shareholders. Now, they said, the purpose of a corporation should include delivering...

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