CSPAN Myth Day: Shareholder Value and the Global Minotaur

Author Lynn Stout talked about her book, The Shareholder Value Myth, in which she argues that corporations placed too much emphasis on increasing their stock price. She said the focus on shareholder value has prevented corporations from making a full contribution to solving the problems of the world, and described a corporate world where the effort to maximize profits in the short term had degraded the long-term value of many companies. She responded to questions from the audience.

Greek economist Yanis Varoufakis, the author of The Global Minotaur: America, the True Origins of the Financial Crisis and the Future of the World Economy, spoke about debt and the global economy. He argued against the existence of a debt crisis in the global economy or in individual countries, asserting that the problem instead was a a crisis of too much savings “with no place to go.”