A corporation has a primary fiduciary responsibility to its shareholders.
Only because Friedman told us so and we believed him. It's not some immutable natural law.
Only because Friedman told us so and we believed him. It's not some immutable natural law.
The CEOs and boards who operated this way survived.
The ones who didn't, didn't.
I don't know how you are going to change the dynamic.
Any change will have to be approved by the powerful survivors, who know exactly how their behaviors have benefited them.
You're asking the king(s) to step down as king(s).
Accomplishing it historically has required force and rarely ended as planned.
But overall I agree with you, that if we are going to make a systemic change, the change should benefit those with the least, at the expense of those with the most, because that is a path towards equilibrium, not away from it as we have been progressing since the mid 70's.
And, AI may actually reduce the status of the wealthy the most, given, the more the individual can do for his/her self, the less we need a "corporate brain trust" to make a widget for us.
Economically, AI could play out to be the force that reduced the oligarchs to the same status as the common man.
We all shall see.