Modern corporate governance prioritises shareholders above all other stakeholders in corporations – workers, suppliers, and so on. This is dangerous, and the “stakeholder capitalism movement” has catalogued many of the harms caused by this radical ideology, and persuasively advocated for more inclusivity in corporate decisionmaking. Yet there’s an elephant in the room that few discuss: monopoly power. There is a huge opportunity to build alliances to reorient our approach to both corporate governance and markets generally.
Rana Foroohar has written an excellent column in the Financial Times about our latest report, entitled Stakeholder Capitalism’s Next Frontier: Pro- or Anti-monopoly? co-written by our Michelle Meagher and Denise Hearn of the American Economic Liberties Project.read more