When I was a director of a financial institution in the 1990s, we struggled in vain to get top executives to pay attention to the Board’s sustainability priorities. To no avail. Then we stumbled upon the idea of rewarding the CEO for long-term sustainability performance. The result? We saw a dramatic improvement in the company’s sustainability performance from then on (financial performance, too!). Once we realized the impact of this simple measure, the board quickly embedded the principle in its compensation philosophy, which, in turn, spread the concept throughout the management ranks.
Sit back, perhaps pour yourself a glass of wine and consider the Capitalist system (in the US) at work. Some questions to consider while you watch…
- How can the economy thrive when the middle class doesn’t share in the wealth? [From 2009-2012 95% of all income (in the US) went to the top 1%]
- Does it make moral or economic sense to ask taxpayers to subsidize one of the wealthiest companies in the world?
- What does it say about the political system (in the US) when the senator can’t get the gentleman from the Manhattan Institute for Policy Research to answer this question:
Do you think the Walton family which is worth 100 billion is in need of welfare from the middle class of this country or should we raise the minimum wage so that the workers can earn a living wage and not have to get medicaid or food stamps?
When a sustainable company is assessed (triple bottom line) how should Walmart be ranked?
Also posted in Capitalism 2.0, Human Rights, new economy, systemic change Tagged corporate welfare, income inequality, living wage, minimum wage, poverty wages, Walmart, wealth concentration, working poor