This special edition of The Nation brings together a wide range of articles on new ways to shape capitalism, and to work on economic recovery.
• Reimagining Capitalism: Bold Ideas for a New Economy
True economic recovery will require creative solutions to deeply rooted problems. Our first great task is to change the way we talk about what’s possible.
• The Rise of Benefit Corporations
A growing number of states are introducing laws that permit companies to pursue social missions without fear of shareholder litigation.
• To Guarantee Corporate Responsibility, Open the Boardroom Door
The best way to ensure corporate accountability is to save a seat on every board for an independent watchdog.
• Cut Wall Street Down to Size With a Financial Speculation Tax
A tax on the rapid-fire trades that dominate financial markets would discourage reckless behavior and raise serious funds for public use.
• The Government Nudge: A Public Role in the Private Sector
The government has the power to spur innovation and reshape the economy—but it must be willing to flex its muscle.
• Employee Ownership: The Road to Shared Prosperity
Employee ownership plans carve a path toward what could be called responsible capitalism.
• In Oregon, a Grassroots Campaign for a State Bank
Legislation proposing a publicly owned state bank, the underpinning of a truly local economy, stands a good chance of passing in this session.
• Reforming Limited Liability Law
It’s time to recognize limited liability for what it is: a subsidy for corporations paid by those hurt by malfeasance.
• The Job Guarantee: A Government Plan for Full Employment
There is no economic demand more urgent than putting Americans back to work. The government can do this by creating an ’employer of last resort’ program.
L. Randall Wray
• Inclusive Capitalism: Improving Benefits and Performance With Smarter Incentive Pay Plans
Congress should allow tax deductions for incentive pay schemes only if they distribute the rewards to the majority of workers.
Joseph Blasi, Douglas Kruse and Richard Freeman
• A Richer Shade of Green: The Wisdom of Sustainable Investment Funds
Investors who seek out companies that are meeting the long-term challenge of sustainability will have a strategic advantage.
• Performance-Related Compensation for Corporate Executives
Hotshot CEOs should be required to play by the same rules as small business owners, who have a personal stake in the companies they run.
Vincent A. Panvini Jr.
• Protecting Retirement Funds From Wall Street Speculation
Pension savings and 401(k) plans are supposed to guarantee workers a comfortable retirement, not provide fodder for financial managers.
• The End of Capitalism and the Wellsprings of Radical Hope
Capitalism in any form compels us to be greedy, callous and petty. Instead of reinventing it, we should replace it.