Maximizing Shareholder Value

Recommending this interview with Noam Chomsky, who continues to analyze goings-on with great accuracy.

It is fairly obvious to everyone (with a functioning brain) that Trump is a malignant and destructive person. No surprises there. I did find Chomsky’s evaluation of the role and expectations of corporations to be not surprising but elegantly, simply, and correctly put.

When I was an undergrad and went (with very little thought or self-awareness) to business school, the role of the corporation was taught simply as “maximize shareholder value”. That was it. Sure, we had one “business ethics” course, but it goes without saying there was no evaluation of some of the basic precepts of our system – such as the ultimate goal of maximizing shareholder value. Of course, why would that have been discussed? Would you expect to go to a Baptist seminary and seriously question the existence of God? (no intention here to insult believers by comparing the concept of a loving God to this idea — just pointing out the lunacy of expecting business school to be anything but indoctrination into the capitalist gang-bang).

Anyway, Chomsky notes that the ability of an organization to incorporate is essentially a gift from us, the public, and it’s a powerful gift of course, since it includes limited liability and lots of other perks. And for that gift NOTHING is asked in return. In fact, the notion of corporate structure being a gift from the public is never even considered. In business school it is treated like some immutable law of the universe.

This is the real religion of our country, and a lot of the world. And as noted in this article, it is a religion that is going to kill us.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.