The Objectivist Perspective on Corporate Governance: Shareholder vs. Stakeholder Capitalism

Capitalism entails private ownership and private control (management) of property, whereas fascism is a hybrid, with ownership merely nominal and legal (by title) and control exercised by non-shareholders (states and pressure groups). The “stakehold- er” model bifurcates corporate governance and dilutes rights; it’s insidious because on a superficial level it seems that we still have a system of private property capital- ism. We don’t. To preserve liberty and prosperity, we must recognize and reject this scheme.