I live in a town of 2,000 people. We have 2 major factories and had a main office and mould shop in town. It would not be uncommon for the president of our company to show up at one of our plants to say hello. Back in the 60's we had companies with stake holders. The stakeholders were the workers, the town, the shareholders. Workers were looked upon as assets, the company helped install lights at our football field. Companies evolved into corporations. Our president moved the main office to Florida where he could join a fancy golf course. Suddenly our corporation's board of directors didn't look upon our community as stakeholders, didn't look upon our workers as stakeholders. Our workers went from being assets to costs to the bottom line. Shareholders, stock owners became way more important than stakeholders.
Our factories are still in town, but our company used to employ 2,300 people, including the main office. It now employs around 300 people. Our mould shop was closed and we bought our moulds from China. Our main office is gone. Our factories were downsized to make only the most profitable products.
Companies became corporations, shareholders became more important than stakeholders, more important than workers who sweat and bleed every day to make a living for their families and to see their corporation succeed, even if they are just looked upon as a cost to the bottom line.