The Anti-Democratic Nature of Corporate Governance

The CEOs of big corporations can pursue their own goals, to spend, to share, hold their money on things that they deem to be good. This attenuates the accountability for corporate managers and allows them basically to get away with underperforming more easily. If you've got multiple goals, it's hard to hold you to any of those particular goals. And so there's an anti-democratic aspect of how the money's invested," he says.