[Isn't corporate democracy a contradiction in terms and didn't the Italians have a name for what's happening?] full article at <http://www.commondreams.org/views01/0107-01.htm> Published on Sunday, January 7, 2001 in the Boston Globe Our New Corporate Republic by James K. Galbraith WITH THE EVENTS of late in the year 2000, the United States left behind constitutional republicanism, and turned to a different form of government. It is not, however, a new form. It is rather, a transplant, highly familiar from a different arena of advanced capitalism. This is corporate democracy. It is a system whereby a board of directors - read Supreme Court - selects the chief executive officer. The CEO in turn appoints new members of the board. The shareholders are invited to vote in periodic referenda. But the franchise is only symbolic, for management holds a majority of proxies. On no important issue do the CEO and the board ever permit themselves to lose.
