read the file and give comments about 2 idea (do you agree or disagree, or what do you like/ don’t like about it, and WHY)
Hester Pierce explained how Shibusawa helped Japan build its capitalism economy as a whole. He believed that profit seeking was not selfish but when you do become wealthy to better the companies around you to be morally and financially better by teaching what is right. Corporations should maximize the shareholders support as they provide support financially and believe in the corporation to do what is right to maximize profit for everyone involved. Stakeholders only have good intentions and can’t be relied on to fulfill their promises for the corporation. Corporation should have the role of maximizing their profits for everyone part of its company and the government job should be to regulate that corporations are fairly dividing its profit with the people part of the corporation. I don’t believe that CEO’s are overpaid that is what hard work gets you, and they are the wealthy mentors that are meant to better the company and people around you. A way that has been demonstrated in my personal life from this covid crisis is I got a pay raise as an essential working showing that the CEO does want better and takes care of the people involved that make their company whole.
According to Hester Pierce, high government regulation that tells companies what they should and should not do has a negative effect on the company. While the company is involved with government regulations, it concentrates it’s efforts to meeting the regulations and pleasing the regulators to get benefits that improve shareholder wealth and high ranking managers. This behavior linked with pleasing the government seems to be linked to a behavior of greed, where companies look out for self interests of the few and most important individuals such as shareholders and CEOs. According to Shibusawa, the era of capitalism has not run it’s course. He believed the profit seeking nature of capitalism is not inherently selfish or bad. Shibusawa also believed that capitalism and corporations should focus on making wealth but have the role of moral integrity and put on a concentration on the benefit of all stakeholders. The governments role should be more limited and should lower pressures on the companies as a whole but rather put more pressure on high-ranking managers such as CEOs (who currently make too much percent of corporate profit) who could be potentially self interested. I believe Shibusawa and Hester Pierce have the right mentality but there seems a heavy reliance on individual managers who believe in integrity, being morally good, and the benefit of all stakeholders. Sure there may be managers out there that believe in those things and implement change in their corporations, but there are also still self-interested managers. A safety net (in the form of minimal government regulation) would help mitigate the issues surrounding self-interested managers and relatively high weight of CEO pay ratios
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