In the recent history of management ideas, few have had a more profound — or pernicious — effect than the one that says corporations should be run in a manner that "maximizes shareholder value."
Indeed, you could argue that much of what Americans perceive to be wrong with the economy these days — the slow growth and rising inequality; the recurring scandals; the wild swings from boom to bust; the inadequate investment in R&D, worker training and public goods — has its roots in this ideology.
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