Interesting piece. The 1980s was pivotal. Carl Icahn and other “greenmail “ proponents broke the relationship between company leaders and workers by threatening shareholder revolts if quarterly earnings and share prices slipped. Short term, shareholder value became the sole determinant of CEO success, another accelerator of the wealth divide and the hollowing out of the middle class.
Totally agree, Lily. I've always marveled at the total reset that happened when Reagan was elected. All the moral imperatives of the 60s and 70s were suddenly obsolete and it was Morning in America, establishing the primacy of business over people and planet and opening the door for Icahn et al. Once the Cold War ended, there was no reason to go back. Our current moment has a similar feel - as if we will be living with the consequences of our current reset for decades to come.
I love this. How lucky to have crossed paths with you (ala Hershey). Looking forward to reading and absorbing your wonderfully gathered concepts!
Interesting piece. The 1980s was pivotal. Carl Icahn and other “greenmail “ proponents broke the relationship between company leaders and workers by threatening shareholder revolts if quarterly earnings and share prices slipped. Short term, shareholder value became the sole determinant of CEO success, another accelerator of the wealth divide and the hollowing out of the middle class.
Totally agree, Lily. I've always marveled at the total reset that happened when Reagan was elected. All the moral imperatives of the 60s and 70s were suddenly obsolete and it was Morning in America, establishing the primacy of business over people and planet and opening the door for Icahn et al. Once the Cold War ended, there was no reason to go back. Our current moment has a similar feel - as if we will be living with the consequences of our current reset for decades to come.