First, a corporation that does not maximize shareholder value is open to shareholder lawsuits. Corporations are not concerned with the welfare of the poor, the cleanliness of the environment, the education of our children, the health of our citizenry. They are concerned with one thing, and one thing only, making a profit. And they use their political clout to exempt themselves from taxes and environmental rules; they use their marketing power to engineer our tastes and preferences; and they seek to turn a profit on every aspect of human misery, from our ill health, to our fear of crime, even selling us antidepressants to numb us to our sense of spiritual malaise and emptiness.
Second, corporations are legal fictions in the same way partnerships and contracts are fictions. They have been granted the status of personhood for purposes of establishing criminal liability, and so that they have legal standing before the law generally. But they have never enjoyed full, unfettered human and political rights, for the obvious reason that they dwarf any natural human being.
Third, corporations do live by a different morality than the rest of us, because they are not concerned with nurturing and developing people to realize their full potential or to be all that they can be. They are concerned with one thing and one thing only: whether the person is contributing to the bottom line; whether he is a reliable and docile corporate tool. Anyone who is not useful to that enterprise is let go, creating an ethos of competition in order to make sure that when the company has to downsize in order shore up profits, that the person who is let go is not you. This competition encourages us to treat one another instrumentally; as means to an end; as people to be manipulated; and, if necessary, betrayed in order to serve one’s own ambitions to move up in the corporate ladder of wealth, power and success.
This breeds a kind of me-firstism that undermines human empathy and compassion. None of you would even be here without the open-handed and generous nurturing of your mothers. Nobody looked at you and asked “How are you going to be a useful tool for my self interest?” No, your parents sacrificed, just as you sacrifice your own time and money on your children.
@kevbo has it right, corporations are psychopathic, insofar as they care for no one and nothing but themselves, and so have no conscience.
@lloydbird You are only correct if selfishness counts as “morality.” Sad to say, there are spiritually sick people who are only out for themselves and pride themselves on their cynicism and “realism.” It is, unfortunately, a psychic disconnect from the moral claims of your fellow man. It is the morality of the Romans versus the Christians; or the morality of Boss Hogg versus the morality of Martin Luther King, etc.
@benjaminlevi How can you prevent a corporation from getting with everything it wants if money is considered free speech and, at any given time, they can write a check that is 10,000 times larger than any check you can write. When was the last time the government won an anti-trust lawsuit?
@drdoombot “Corporations are legally obligated to maximize shareholder value, except for situations when doing so causes damages, even indirectly, to consumers, the environment and employees.”
If most judges are elected and corporations can funnel money to judges that favor their interests—or they can simply buy the changes in the law they need, who and how will it be decided when your “exception” kicks in?