Economists have inadvertently transformed corporations into predators through the promotion of shareholder value maximisation. This shift, beginning in the 1980s, has led to corporations prioritising short-term profits over long-term growth and societal impact. Previously, corporations were seen as institutions with multiple stakeholders, including employees, customers, and the community. The new economic model has resulted in the rise of predatory practices, such as stock buybacks, which are used to manipulate share prices and increase executive pay, often at the expense of investment and employee wages. This change has also contributed to income inequality, as the wealth of shareholders and executives has grown, while wages have stagnated. The concept of shareholder value maximisation is now being challenged, with the need for a more balanced approach to corporate governance being recognised.
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