Former U.S. Vice President Biden Wants an End to Shareholder Capitalism in PA Speech

Posted on 07/10/2020

Former U.S. Vice President Joe Biden, who is running for U.S. President in 2020, gave an economic speech in Dunmore, Pennsylvania on July 9, 2020. Biden declared an “end to the era of shareholder capitalism.” Biden said, “It’s way past time to put the end to the era of shareholder capitalism. The idea the only responsibility a corporation has is its shareholders — that is simply not true, it’s an absolute farce. They have a responsibility to their workers, their community, to their country.”

The former VP addressed a socially-distanced group of workers and reporters at the McGregor Industries metal works facility. Biden also discussed that he would spend US$ 400 billion on infrastructure projects, including clean energy developments. This proposed policy suggestion could fold into the Democrat’s vision of the Green New Deal.

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