3 Corporate Myths that Threaten the Wealth of the Nation

Unfortunately, over the past few decades, the top executives of our major corporations have turned the productive power of the people into massive and concentrated financial wealth for themselves. Indeed the very emergence of “the 1%” is largely the result of this usurpation of corporate power. And executives’ use of this power to benefit themselves often undermines investment in innovation and job creation.

These corporations do not belong to them. They belong to us. We need to confront some powerful myths of corporate governance as part of a movement to make corporations work for the 99%. To start, we have to recognize these corporations for what they are not.

• They are not “private enterprise.”

• They should not be run to “maximize shareholder value.”

• The mega-millions in remuneration paid to top corporate executives are not determined by the “market forces” of supply and demand.

Let’s take a closer look at each of these myths.

Alternet, excerpt