I have one point I would like to dispute with Real RML:

I am not sure we wouldn't be better off as minor stockholders if the law required that the Board of Directors of any public corporation was entirely staffed by the largest stockholders. They might, in the process of having their own interests at heart, support mine. If you look at the boards of most corporations, you will find that they are no more than another layer of hirelings, just like the CxOs, but with a different set of powers. They are typically the CEOs of other corporations which leads, among other inequities, to their establishing, in a thoroughly back-scratching manners, each others' salary, bonus, and perks.

This Board composition is a relatively new thing, the old "captains of industry" took their responsibilities seriously and managed what they owned. Think of the portrayals which were still believable just a few decades ago in the TV shows "Falcon's Crest" and "Dallas" or the movie "Giant". This is far from a progressive orientation to suggest - in fact, it's downright conservative!