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Outstanding explanation of what is wrong with corporations and how to fix them

The corporation is a rent extraction vehicle for the shortest-term shareholders; by threatening interventions such as takeovers and hedge fund activism, they can hold all other stakeholders, including longer-term shareholders, to ransom, according to Colin Mayer in his book Firm Commitment: Why the Corporation is Failing Us and How to Restore Trust in It. My full review of the book can be found on my business website.