One of the problems of capitalism (at least I see it as a problem) is that its only fiduciary duty is to the shareholders. In other words, its business practices have to have the prime purpose of maximizing the returns to its investors, consistent with the existing laws. This makes sense, in a narrow way. After all, the shareholders are the ones who provide the money and in any large public company, they will constitute a varied group that has diverse interests. The only thing that they can be guaranteed to have in common is the desire for a good return on their investments. [Read more…]