this post was submitted on 05 May 2026
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Work Reform

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[–] HrabiaVulpes@europe.pub 7 points 1 week ago (2 children)

Honestly I don't think it can. In USA there is this shit called "law of precedence" and also there is this precedence that means companies are liable in court if they don't prioritize shareholder profit.

Any reform that could possibly work must probably start with outlawing stock markets and loans.

[–] Napster153@lemmy.world 13 points 1 week ago (1 children)

The Longer I live, the more I realise America is just Rapture City from Bioshock with some adjustments.

[–] HrabiaVulpes@europe.pub 2 points 1 week ago

Damn, I must try that game

[–] BarneyPiccolo@lemmy.cafe 0 points 1 week ago (2 children)

We don't need to outlaw the stock market or loans, we just need to change the priorities. Right now, the Board of Directors of a public corporation are obligated by law to make the entire corporate mission to serve the stock price. If they don't, they can be sued by the stock holders, and they will sue. So they don't have a choice but to keep doing ANYTHING that makes the stock price go up.

That was decided in Dodge vs Ford , and Shareholder Primacy has been the law ever since. Reforming Walk Street, and regulating profits, would start with limiting Shareholder Primacy.

[–] HrabiaVulpes@europe.pub 2 points 1 week ago

No shareholders - no primacy. Just saying....

[–] Auli@lemmy.ca -1 points 1 week ago (1 children)

There is no law about that. Or show me the law. And whose law in a multinational corporation.

[–] BarneyPiccolo@lemmy.cafe 1 points 1 week ago* (last edited 1 week ago)

You are flatly wrong, I literally gave you a link to the Wiki about it. It's a real thing. Anyone who has owned a business with investors and a board is familiar with Shareholder Primacy.

Read the link before you respond further.