"The Corporate Governance site is designed to provide a springboard
for explorations and discussions concerning the movement to enhance
wealth by creating more democratic forms of corporate governance.
In the past, Americans have tried to balance the power of big
business with regulation and monitoring by big government. Today,
we recognize that government regulation is inefficient and often
has unintended negative consequences. Given the power of corporate
lobbyists, government control often equates to de facto corporate
control anyway. See, for example, The American Corporation
At the End of The Twentieth Century.
The keys to creating wealth and maintaining a free society primarily
lie in the same direction. Both require that broad based systems
of accountability be built into the governance structures of corporations
themselves. By Ending the Wall Street Walk, and accepting the
responsibilities that come with ownership, pension funds and other
institutional investors have the potential to act as mediating
structures between the individual and the dominant institutions
of our time, the modern corporation. Ownership based governance
is likely to reduce the corrupting influence of unaccountable
power on government. At the same time, by transforming corporations
into more democratic institutions, such funds will unleash the
wealth-generating capacity of "human capital" which
is based on the skills and knowledge of corporate employees and
their ability to serve the needs of customers and clients."
