3min chapter

Capitalisn't cover image

Reinventing Democracy, With Hélène Landemore

Capitalisn't

CHAPTER

Shareholder Democracy Is a Revolution on the Horizon

Luigi Zingales: I'm afraid that people are trying to go in the opposite direction. Diva Karamazwami who as you know is running for president came out recently with a proposal to actually eliminate the vote from people between 18 and 25. Lisa Fairfax: She runs against all the stereotype of the French intellectual. We know what is the right thing and from the top we distribute to the masses.

00:00
Speaker 1
Thank
Speaker 3
you so much for your time. This was really interesting and thank you for your work and thanks for coming on our show. Thank
Speaker 1
you so much.
Speaker 3
Well,
Speaker 4
everyday investors and shareholders shake the foundations of capitalism by seeking a greater voice in corporate boardrooms, join Chicago Booth's Restandy Center and Stiegler Center in partnership with the Financial Times for a virtual event on June 14th. Shareholder Democracy is a revolution on the horizon is the second in the unpacking ESG series featuring Chicago's Luigi Zingales and University of Pennsylvania's Lisa Fairfax. The panel will be moderated by the FT's Simon Mundy. Register at Chicago Booth.edu slash unpacking ESG.
Speaker 3
So did she convince you? Or maybe a better way to ask that question is how skeptical were you going in? Because it sounds to me like you're inclined to agree with her on some level and so did you maybe maybe I'll ask that as a two-part question. Did you need convincing and if so did she convince you? You are
Speaker 2
very perceptive because I think I feel I'm a bit biased and for two reasons. One is that she's trying to improve the democracy in the direction of making it more democratic. These days, I'm afraid that people are trying to go in the opposite direction to say that, you know, we should not let people vote and or if we vote, we should disregard the vote if it doesn't another way we want. I have to say with some disappointment that our former guest Diva Karamazwami who as you know is running for president came out recently with a proposal to actually eliminate the vote from people between 18 to 25 I think unless they either do a six month of civic service or they pass a test on the civicness which is generally required if you want to get American citizenship. I'm I'm nervous when people start going in the direction of reducing the voting rights and I think that this is a trend and she's actually back in that trend and I like people who back at trend and second she runs against all the stereotype of the French intellectual. I think the French intellectual tend to be very Cartesian. We know what is the right thing and from the top we distribute to the masses. She actually believes in the wisdom of the crowd and so she she is to me like a a modern talk wheel and there is nobody like a foreigner to appreciate a great institution inside the United States and I think she she does appreciate the great institution including the American Jewish system. I think for many Europeans the American Jewish system seems crazy but I think that there is a wisdom of that that we often ignore.

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