CONCERNS ABOUT the health of corporate America are many and varied. Chief executives are chastised for their apparent short-termism. Their companies are berated for fetishising shareholders over everyone and everything else. Elon Musk, boss of Tesla, an electric-car maker, grumbles about a surfeit of business-school graduates who are stifling innovation. President Joe Biden frets as much about American companies losing out to China as Donald Trump did (albeit with less bile). He also worries about the concentration of power among America’s biggest firms.
All this paints a picture of America Inc that looks stodgier, more parochial and increasingly monopolistic. If true, that would be bad news for the spiritual home
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