this post was submitted on 21 Nov 2024
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Publicly traded corporations are the system that is the most problematic. they comprise the entirety of the stock market and the majority of the economy.
The fact that some guy running a hedge fund out of some economic center in a major city elects a c-suite who will actively harm people in any given locality America by dumping pollutants, tying up water rights, raising prices without a corresponding cost for production, or whatever other unethical business practice you want to fill the blank in with, just because it marginally increases profits is the problem. That hedge fund manager is actually required to do that or he will be fired, sued, or held criminally liable.
Greed is the primary motivating factor in this country and it is killing us.
87% of US companies who make more than $100M revenue (not net, gross) are private according to Advisorpedia.
But yes, ending Citizens United and enforcing maximum political donations would be a huge step forward and fix so many problems.
That says nothing about the amount of money passing through public companies.
Political donations suck, but the real issue is the absolute fiduciary duty of company runners.
It just refutes the statement about the "majority of the economy" is all.
The economy is the money/capital not the number of business
Kind of weird that I should even be bothered to ask at this point, but...
Alright, ignoring the number of employed workers and other economic indicators like actual product, whats your statistics on money/capital of private vs public firms?