Harvey’s Introduction
This is an article that appeared in a well known corporate board journal by an attorney who has a very important position in an extremely large and successful law firm. It is purported to be a response to the claims that corporations are not doing enough to remedy the ills of capitalism as defied by groups like BLM. It is well written but is also almost complete and utter nonsense. For example, it urges that corporations encourage better educational outcomes in urban schools by supporting pre-kindergarten programs, enhanced meals, after school activities and adopt a school programs. It is not up to corporations to do these things. Inner city schools around the country are usually pretty bad, but not because there is a lack of these programs. They are bad because enough parents don’t care, because teacher unions prevent firing of incompetent teachers and a thorough lack of sufficient competition with public schools. If corporations supported anything, it should be the dismantling of unions, increased number of charter schools and the institution of voucher programs. The job of corporations is to maximize long term value for its shareholders and do so by providing goods and services that customers want, hiring and retaining a competent workforce and do so by operating in compliance with applicable laws and regulations. Nothing else. Asking (requiring) corporations to be responsible for societal problems can only lead to greater government demands, oversight, regulations and fewer job and fewer successful companies.