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What Do You Think about Elizabeth Warren’s Accountable Capitalism Act? Please Share Your Thoughts with Us on the 25th

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.

“The Accountable Capitalism Act”: Please Join Us on October 25th

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.

The Wittenberg Statement

Our Wittenberg Statement reflects the concerns of participants at our 2017 Global Dialogue held last November in Wittenberg, Germany.

Observations of fundamental importance deserve to be memorialized in a statement. The 500th anniversary of an event in Wittenberg which, under the influence of dynamic circumstances, triggered the Protestant Reformation, was an occasion to reflect on the emergence of modern civilization with its structures of science, industrial production, private finance, nation states and international law and ideals of constitutional rule and human rights.

But, as participants noted in the Statement, the emergence of a social, economic or political system does not make it wise, just or perfect. Systems have advantages, to be sure; they meet needs and provide goods and services. But they have limitations and short-comings which only new human endeavors can correct or remediate.

Nonetheless, as reforms and innovations are advocated and adopted, there are still timeless aspects to our endeavors which seem beyond the reach of intentional modification. Reflection on Martin Luther after 500 years helps us spot what is lasting and what is only interim.

The morality of our contemporary capitalism stands on both timeless needs of human nature and incremental, short-term improvements to our structures for creating wealth and distributing it.

The Statement hopefully will serve to define a greater common understanding of what is fundamental and what needs to be addressed in our time through our ideals and efforts.

Download the full statement.