At 9:00 am on Thursday, October 25th, we will be hosting a round table to discuss Senator Elizabeth Warren’s proposed federal legislation “The Accountable Capitalism Act” for large corporations and you are invited to join us.
In short, she proposes to have a law that focuses such corporations on stakeholders more than only shareholders. This idea is at the heart of the Caux Round Table’s Principles for Business. It is also the objective of the new benefit corporation laws passed by over 30 states, including Minnesota.
Now, the proposal is destined to be controversial, not only for its objective which rejects the simplistic vision of Milton Friedman and financial fundamentalists who claim systemic advantages to having corporations focus on short-term profits to be shared mostly with shareholders. But it will be controversial because Senator Warren will most likely seek the nomination of the Democrat Party for the Presidency in the 2020 election.
Is her idea a good one? Is it too idealistic? Does it contain hidden flaws? Can it work?
Registration and a light breakfast will begin at 8:30 am and the event at 9:00 am.
Cost to attend is $15 for Business and Public Policy Round Table members and $35 for non-members. Payment will be accepted at the door.
I will be facilitating.
To register, please contact Jed at jed@cauxroundtable.net or (651) 223-2863 (email preferred).
The University Club is located at 420 Summit Ave in St. Paul.
You may read a precis of her proposal in the September edition of Pegasus here.