Democratic Capitalism

Companies with unequal share class structures, in which some shareholders have more votes than others, should be banned from the public exchanges. This would effect Facebook, Google, LinkedIn, The New York Times, News Corp, CBS, Comcast, and a number of other companies.

This is not a radical proposal. In 2017 S&P DJI decided to ban companies with unequal share class structures from the S&P 500 and related indices (also see here). Existing companies with unequal share class structures have however been grandfathered in.

A more modest proposal is for companies with unequal share class structures to gain approval of their unequal share class structure from a majority of all shareholders every 5 or 10 years.