[Digory]

Not really. Shareholder primacy responded to management supremacy — management was soaking up profits, making almost fraudulent promises to employees about the future, and insulating themselves from shareholder votes.

The Warren proposal purports to give employees 40% of the shareholder’s votes, and then give management a duty to act for “the public.”

Neither was present in the ‘old’ system. I can’t see that either of these steps give management or employees better long term incentives.