The Emperor’s Nightmare: Saving American Democracy in the Age of Citizens United (Issn)

From angry shareholders to concerned chief executives, almost everyone knows at a gut level that the present political system is not working. This book finds the root cause to be poor corporate governance. In the prequel to this book, __The Emperor’s Nightingale__, Robert A. G. Monks, one of the world’s foremost shareholder activists, had warned corporations against putting short-profit ahead of long-term value for all stakeholders. Few listened – and the result was system-wide trauma that only bold solutions can heal. In __The Emperor’s Nightmare__, his latest book, Monks reveals what can happen when corporate leadership abandons the common good to court and conquer a powerful elite. This insightful, honest, and direct portrayal of corporate governance and the surrounding political system will be of immense value to those interested in corporate governance – particularly shareholder and stakeholder advocates, and the true corporate leaders who serve them. In the end, better corporate governance means better democracy. This book shows the way. Advance Praise for The Emperor’s Nightmare 7 Acknowledgments 11 Contents 13 Preface: A Beautiful Fantasy 15 Chapter 1. The Real World 19 Chapter 2. Accountability Decouples from Regulation 33 Chapter 3. Powerball 48 Chapter 4. $100 Million Here, $100 Million There 67 Chapter 5. It’s Alive! 78 Chapter 6. Masters of the Universe 90 Chapter 7. The Wichita Mafia 109 Chapter 8. The Storming of Democracy 126 Chapter 9. Stepping Out of the Past 140 Chapter 10. The American Corporation, and What We Can Do About It 151 Epilogue: A 28th Amendment 169 Appendix A 179 Appendix B 187 Appendix C 199 List of Figures 211 Bibliography 213 About the Author 223 About the Series Editor 225 Index 227 This series aims to increase dialogue between and within the private and public sectors on the leading environmental, social, and governance issues of our time. Exploring and testing the very purpose of corporations and governments, the series features practical solutions to complex challenges.