“Passing laws to force public cos to strengthen the employees is counter to the interest of the shareholder.”
I definitely would not support a law like that. It simply is not the role of government to do so (and I say that as a Democrat). The only way I see this being resolved is if executive salaries are less tied to stock price, if companies develop some sort of social consciousness, if we stay at near full employment or stagnant wages lead to less demand from consumers. As I said, I’m liberal but I have little faith in the government to draft a law that penalizes or creates adequate incentives such that companies will choose to reward workers over shareholders.
That said I do think that we, as consumers and shareholders, do need to push back on the idea that a company’s one and only purpose is to increase it’s share price. I’m probably being naive here, but I tend to agree with the original author that corporations have some level of social responsibility as well.