What on earth is Sen. Warren thinking of?
What are the mandarins of America’s business community thinking of?
Mrs. Elizabeth Warren is clearly thinking, along with the French writer Proudhon, that "Property is theft," and as a demagogue in politics whose stock in trade is envy, I don’t think her behavior or her attitudes are strange. But the many CEOs of large corporations who signed up with her in her attack on property seem to me to be a bit more confused.
Let’s start at the beginning. A short time ago, Mrs. Warren offered up a proposal to basically castrate the top dogs of American industry of the publicly held variety.
Management of these large corporations would be mandatorily transferred to "stakeholders," which could mean outsiders or union reps. Automatically, 40 percent of board seats would go to "stakeholders."
That could be anyone. But it certainly would not have to be large owners of the company.
Now, as far as I can see, "stakeholders" already have a huge ownership stake in the company. The federal government already controls the hours and minimum wages that a worker can be paid. There are also strict clauses on retirement plans, safety on the job, and, of course, taxes of every description.
This does not mean that corporations are wards of the workers. It does mean that government has certainly not abandoned the workplace to Snidely Whiplash and his thugs.
But let’s look at how the world really works.
To read Ben Stein's full article, please visit The American Spectator.
Ben Stein is a writer, an actor, and a lawyer who served as a speechwriter in the Nixon administration as the Watergate scandal unfolded. He began his unlikely road to stardom when director John Hughes as the numbingly dull economics teacher in the urban comedy, "Ferris Bueller's Day Off." Read more more reports from Ben Stein — Click Here Now.
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