A recent announcement by the Business Roundtable sent shockwaves through the business law community. The influential group of executives explicitly endorsed the “stakeholder capitalism” model of corporate law. Stakeholder capitalism is a system in which corporations are oriented to serve the interests of all their stakeholders. Among the key stakeholders are customers, suppliers, employees, shareholders, and local communities. By contrast, the current system of shareholder capitalism prioritizes the rights of corporate shareholders.
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