The impact of legislating such a corporate governance system would be the equivalent of a large comet crashing into technofeudalism’s bedrock. On the most superficial level, it would liberate employees from the tyranny of self-serving managers, but on a structural level it would do so much more. First, it would eliminate the distinction between wages and profits; thus we have collective ownership and we have eliminated the fundamental class divide between those who own and collect profits or rents and those who lease their time for a wage.
