What is “Corporate Greed?”
Jan 7th, 2008 by John Stodder
“Corporate greed” is a phrase used repeatedly in political campaigns, including this year’s presidential campaign. Warring on “corporate greed” is the major theme of former Sen. John Edwards’ campaign, but his concern about it is usually given an “amen” by his fellow Democrats and even some Republicans.
There’s a consensus that there is such a thing as “corporate greed.” But what is it?
We’re not talking about corporate crime. We’re talking about things that are legal, but bad. How bad? To quote Edwards:
“The corporate greed that is destroying the middle class in this country is stealing your children’s future. It is stealing the future of Democrats’ children, independents’ children, Republicans’ children.”
In Edwards’ speeches, he leaves the concept somewhat ill-defined, focusing on the “how” (lobbyists) than the “what.” But others have attached the concept to tacit encouragement of illegal immigration, outsourcing of jobs to foreign countries, outrageous CEO compensation, environmental ruin, pension betrayal…what else?
What does “corporate greed” mean to you? If you work for a corporation, do you think you work in a greedy place? What makes a corporation greedy? What’s an example of a corporation that isn’t greedy? Is “corporate greed” a myth? And what responsibility do shareholders bear for “corporate greed?”
In the comments, please give me your definition of “corporate greed.” If you’ve encountered it directly, talk about it.
Meanwhile, I’ll put together a virtual symposium on the subject this week.
(Photo © John Stodder)
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