Wealth Supremacy: How the Extractive Economy and the Biased Rules of Capitalism Drive Today's Crises

Wealth Supremacy: How the Extractive Economy and the Biased Rules of Capitalism Drive Today's Crises
- The Myth of Maximizing: No amount of wealth is ever enough.
- The Myth of Fiduciary Duty: Corporate managers' most sacred duty is to expand capital.
- The Myth of Corporate Governance: Corporate membership must be reserved for capital alone.
- The Myth of the Income Statement: Income to capital must always be increased, while income to labor must always be decreased.
- The Myth of Materiality: Profit--material gain--alone is real, while social and environmental damages are not.
- The Myth of Takings: The first duty of government must be the protection of private property.
- The Myth of the Free Market: There should be no limits on the field of action of corporations and capital.
Kelly argues instead for the democratization of ownership: public ownership of vital services, worker-owned businesses, and more. And she sketches the outlines of a non-extractive capitalism that would be subordinate to the public interest. This is an ambitious reimagining of the very foundations of our economy and society.
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- The Myth of Maximizing: No amount of wealth is ever enough.
- The Myth of Fiduciary Duty: Corporate managers' most sacred duty is to expand capital.
- The Myth of Corporate Governance: Corporate membership must be reserved for capital alone.
- The Myth of the Income Statement: Income to capital must always be increased, while income to labor must always be decreased.
- The Myth of Materiality: Profit--material gain--alone is real, while social and environmental damages are not.
- The Myth of Takings: The first duty of government must be the protection of private property.
- The Myth of the Free Market: There should be no limits on the field of action of corporations and capital.
Kelly argues instead for the democratization of ownership: public ownership of vital services, worker-owned businesses, and more. And she sketches the outlines of a non-extractive capitalism that would be subordinate to the public interest. This is an ambitious reimagining of the very foundations of our economy and society.
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