Sunday, November 16, 2008

Hmmm, maybe capitalism can be saved after all?

Imagine a meritocratic world, where people who wanted to run for office were given a standardized test, and then voters could assess their actual understanding of the undisputed facts.

Now, let's take it a step further, and imagine a world where the boards of corporations were selected from people who passed a similar standardized test, which would staff boards with people who could not easily be deceived by the CEOs. Further, let's imagine a world where, if a person wanted to be on a board, they would become legally liable for fraud that occurs in the company (i.e., expand Sarbanes-Oxley to include boards).

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