Opinion

Shareholders Are Stealing Our Jobs

By Andrea Armeni and Tensie Whelan

Tensie Whelan

To help American workers and shareholders, we suggest asset managers and owners move to reject shareholder primacy and embrace stakeholder capitalism.

It’s not the robots that are coming for American jobs. It’s not the immigrants. It’s not evil offshoring CEOs either. It’s the shareholders.

Under shareholder capitalism, the U.S. labor force has become a liability—a cost to be contained—rather than an asset, and the decrease in worker well-being is a simple externality to be placed off books and ignored.

To help American workers and shareholders, we suggest asset managers and owners move to reject shareholder primacy and embrace stakeholder capitalism, invest in positive approaches to quality employment, and help workers regain a voice in corporate decision-making.

Read the full Fortune article.
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Tensie Whelan is a Clinical Professor of Business and Society and Director of the Center for Sustainable Business.