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Warren bill pitches overhaul of corporate shareholder responsibilities

Joe Mont | August 17, 2018

Sen. Elizabeth Warren (D-Mass.) this week introduced a controversial legislative proposal known as the Accountable Capitalism Act.

It is billed as “comprehensive legislation to eliminate skewed market incentives and return to the era when American corporations and American workers did well together.” Critics, however, are blasting the plan as alternately “socialism” or “communism” due to its concerns about public companies.

The legislation aims to “reverse the harmful trends over the last 30 years that have led to record corporate profits and rising worker productivity but stagnant wages.”

In Warren’s view, for most of the country’s history corporations balanced their responsibilities to all stakeholders in corporate decisions, including employees, shareholders, and the communities they call home.

 “It worked: profits went up, productivity...

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