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We won’t fix the problem until we address the nature of the corporation.
Imagine what becomes possible when we start to understand that executives and managers are not strictly beholden to shareholders—who hold their shares for an average of four months—and share prices.
When executives and directors are free to consider a range of stakeholders—workers, suppliers, creditors, customers, shareholders, and the community in which they’re based—in managing a company, it inherently changes their time horizon from the next quarter to the next decade or quarter-century and beyond, because most of these stakeholders have deeper investments in the company...
This is an important conversation to have. Most corporations follow a purely short-term financial path to increasing "shareholder value", but that is a highly destructive path.