Larry Summers on What Business Can Do to Save the Middle Class - HBR

Larry Summers on What Business Can Do to Save the Middle Class - HBR: But I have the concern that as currently practiced, our institutions provide overly high-powered incentives for taking steps that will benefit share prices in the very short run and insufficient incentives for taking steps that will benefit the company and both shareholders and stakeholders over the long run. I think this tendency has been exacerbated by some of the extremes of activism that we have witnessed in recent years where activists have sought to disrupt or restructure companies for the sake of an immediate payout even at some sacrifice of long-run interests.