The Inclusive Capitalism Shareholder Proposal

17 UC Davis Business Law Journal 147 (2017)

25 Pages Posted: 4 Mar 2018

Date Written: February 14, 2018


When it comes to the long-term well being of our society, it is difficult to overstate the importance of addressing poverty and economic inequality. In Capital in the Twenty-First Century, Thomas Piketty famously argued that growing economic inequality is inherent in capitalist systems because the return to capital inevitably exceeds the national growth rate. Proponents of "Inclusive Capitalism" can be understood to respond to this issue by advocating for broadening the distribution of the acquisition of capital with the earnings of capital. This paper advances the relevant discussion by explaining how shareholder proposals may be used to increase understanding of Inclusive Capitalism, and thereby further the likelihood that Inclusive Capitalism will be implemented. In addition, even if the suggested proposals are rejected, the shareholder proposal process can be expected to facilitate a better understanding of the strengths and weaknesses of Inclusive Capitalism, as well as foster useful new lines of communication for addressing both poverty and economic inequality.

Keywords: shareholder, economic inequality, capitalism, inclusive capitalism

JEL Classification: K00

Suggested Citation

Padfield, Stefan J., The Inclusive Capitalism Shareholder Proposal (February 14, 2018). 17 UC Davis Business Law Journal 147 (2017), Available at SSRN:

Stefan J. Padfield (Contact Author)

University of Akron School of Law ( email )

150 University Ave.
Akron, OH 44325-2901
United States

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