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Pension fund managers reject accusations that they wield undue power and destroy jobs to benefit distant shareholders.
An economy that is more entrepreneurial, less managerial, would be less subject to the kind of distortions that occur when corporate managers' compensation is tied to the short-term profit of distant shareholders.
While the mining giants and their distant shareholders get the profit, Alaska gets the toxic waste -- forever.
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What puts them most at risk, however, is our willingness to tolerate a global economic system in which multinational producers are permitted to bribe and bully weak governments into giving them the right to exploit local resources for distant shareholder profits.
But businesspeople who don't have distant, amoral shareholders to answer to are able to pay whatever price they can afford, for the sake of some other goal.
A study for the Puget Sound Sage, a coalition of labor, civic and religious organisations in Seattle, said the increased minimum wage will inject more than $500m into low-wage households that will circle back into the local economy instead of being siphoned off into the pockets of distant wealthy shareholders.
It's harder to love big corporates, including multi-nationals, where loyalty is to distant, faceless shareholders and is often short-lived.
And any remaining monetary incentive is diminished dramatically by the fact that the relevant royalties will not arrive until 75 years or more into the future, when, not the author, but distant heirs, or shareholders in a successor corporation, will receive them.
This also has the added benefit of ensuring that sensitive financial information about the company doesn't end up in front of more distant, less trustworthy shareholders.
At the time, mining firms were staffed by tough, hearty men who wanted to dig big holes in the ground; the interests of shareholders came a distant second.
The big institutional shareholders have stayed particularly distant from the issue of executive compensation.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com