Saturday, January 23, 2010
Thursday, January 21, 2010
A Modest Proposal: Let Corporations Vote
As published in Umair Haque's Harvard Business Review blog:
I'm highly impressed with your recent decision to vaporize limits on corporate political spending. It's the kind of campaign finance reform our ailing res publica needs. In fact, I found it so inspirational, here's an even better idea.
Let's give corporations the right to vote. One share, one vote. The logic? It's simple. Corporations are people; all people are created equal; ergo, corporations must have equal rights — and no right is more important than the right to vote. (Well, maybe the right to buy fully automatic machine guns, but that's another story).
Goldman Sachs, for example, has 514,080,000 shares outstanding — so they'd get 514 millon votes (in fact, maybe we should give them more, because they're so smart). Ford has 3.31 billion shares outstanding, so they'd get approximately 2.8 billion more votes than Goldman.
I've discussed this with several other economists, and we all agree: it's the most efficient solution. Why, it should save hundreds of millions in lobbying alone. Who needs K Street when corporations can simply, quickly, easily vote in the candidate of their choice? As a bonus, political scientists agree that the increasing polarization between left and right would quickly disappear, too. Human people — with their perpetual squabbling — would be simply outvoted by corporate people, who know what's good for everyone.
But the most lucrative upside is this. The money that's saved can then be invested in the high-value products and services which our publicly traded corporations, the Goliaths of the global economy, excel at — like toxic CDOs, bigger burgers, and mega bonuses. And if we've learned anything over the last 30 years, it's this: everyone's better off when the benefits of more mass-produced stuff trickle down to the average (lazy, shiftless) Joe.
It's time to save our democracy, Justices — through a better kind of democracy. I call it "corpocracy": power to the people who matter most, corporations. Democracy 2.0: it's the next stage in the evolution of the American Dream.
It's not just humans who are people. We've been discriminating against corporate people for too long, and it's unethical. Are you with me, Justices? Its time to liberate corporations from human oppression. Here's hoping it's your legacy.