David W. Anderson-What is the message you want people to understandabout the nature of capitalism and corporate governance?
Ira Millstein- It’s simple. Corporations and our system of capitalism exist
for our benefit. It’s through our investments that we provide the fuel
for the whole system. Whatever happens after we invest our money,
we will be forced to live with the outcome, because we are the intended
beneficiaries of this system. This is so important for our population to
understand that I’m writing a book on it now. We can’t lose sight of the
fact that working people are the actual owners of capital and the very
people who are relying on corporations to create value for the long run.I think this is the critical link in the story of capitalism and corporategovernance.
David W. Anderson- What’s your assessment of how well working
people currently understand the system?
Ira Millstein -The public isn’t sufficiently aware. People don’t truly
understand what’s at stake. They don’t understand what corporate
governance is supposed to do, nor the capitalist system of which corporate
governance is a part. The public’s view of the issues is clouded
by self-serving intermediaries. While the working people are in fact
supposed to be the intended beneficiaries of the system, too few of
the intermediaries in the system treat working people as the prime