[jungturk]

I think your points highlights the contrast between how the US thinks of corporate stewardship (shareholders get complete discretion) with how many German companies do (stakeholders all contribute to board-level decision-making).

In the US it seems entirely reasonable that an owner should be able to undermine the long-term viability of something they own, but in Germany other stakeholders - the larger community the company exists in, the employees of the company -- get a seat at the table to determine the company's course.

I'm not advocating for either, just an interesting distinction.

[wlll]

For what it's worth this is my limited understanding of the way the US stock market works from my observations over 17 years in the UK :)

Personally I'm a big fan of the "middle ground" European model that seems to be, "capitalism with boundaries", as far as I can tell unfettered capitalism is incredibly destructive and unfair.