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3 Corporate Myths that Threaten the Wealth of the Nation

It’s time to restore corporate power to the people by blasting through the myths about how corporations should be run, and for whom.

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What will it take to build a movement that can make the business corporation work for the 99%?

We have to elect politicians who will take on corporate power rather than shill for corporate power-brokers. We have to support labor leaders who recognize that gaining a voice in corporate governance is the only way to ensure that corporations will invest in workers and create good jobs. We need teachers at all levels of the education system who understand what business corporations are and what they are not. We need the responsible media to escape from the grip of corporate control. And we have to put in place business executives who represent the interests of civil society rather than those of an elite egotistical club.

Getting Involved

- April 25: National Day of Action Against Student Debt

On April 25th, the total amount of student loan debt in the U.S. is due to top 1 trillion dollars. This staggering economic milestone marks a momentous victory for Wall Street and the 1% against two generations of students and families. A day of action will target big banks and student lenders, as well as increasingly corporatized universities.

-May 1st: May Day

Recognized worldwide as International Workers’ Day, May 1st marks the Haymarket Massacre of 1886 in Chicago, where workers were fighting for the eight hour workday. Look for rallies and gatherings across the country that will draw attention to the needs and concerns of workers.

-Move Your Money

The Move Your Money campaign was launched in 2010 to take on the power of the megabanks that helped cause the financial crisis and continue to wreak havoc on our economy. Numerous ongoing actions around the country are calling attention to the need for fairness and accountability in the banking industry (read about the latest: " Move Your Money" Goes Nationwide As Cities Pull Their Money”)

-Occupy Wall Street

The leaderless resistance movement continues to take on the greed and corruption of the 1%, including a recent day of action for public transit workers. Check the website for gatherings and actions in your community.

 

 

 

 

 

William Lazonick is professor of economics and director of the UMass Center for Industrial Competitiveness. He cofounded and is president of the Academic-Industry Research Network . His book, "Sustainable Prosperity in the New Economy? Business Organization and High-Tech Employment in the United States" (Upjohn Institute, 2009) won the 2010 Schumpeter Prize.

Ken Jacobson is a journalist covering business, economics and technology. He served as an investigator on the Democratic staff of U.S. House of Representatives’ Science and Technology Committee between 2007 and 2011. He is currently acting as senior editor for the newsletter Manufacturing & Technology News .

Lynn Parramore is an AlterNet contributing editor. She is cofounder of Recessionwire, founding editor of New Deal 2.0, and author of 'Reading the Sphinx: Ancient Egypt in Nineteenth-Century Literary Culture.' Follow her on Twitter @LynnParramore.