[EM] Public elections are the ones that matter.
jarmyta at antioch-college.edu
Sun Nov 13 00:00:59 PST 2005
Dave Ketchum <davek at clarityconnect.com> writes:
>Corporations are off in their own corner - each share of stock owns a
>vote, to be voted by its owner.
Yes, of course corporations officially work on a one-share-one-vote basis,
and often allow for proxy votes, but in my opinion a robust delegable
proxy system could go a long way toward improving corporate governance.
>From the current draft of my delegable proxy paper (at
Many corporations allow shareholders to vote by proxy, but in many cases,
shareholders do not know much about the proxies whom they designate. If
corporations were required to allow for delegable proxy voting, then I as
a small stockholder could potentially delegate my votes to nonprofit
organizations that shared my values with regard to corporate policy. (I
should retain proxy vote rights even if my ownership of stock is brokered
by an intermediary agent.) This could help corporate policy to conform
more closely to the values of ordinary citizens, just as the general
proposal could help government policy to do the same. Hence, the use of
the delegable proxy system could bring us closer to both political and
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