We can correct the disorders of contemporary capitalism one after the other, or we can go to the source of these disorders

The disorders created by contemporary capitalism are well known: income distribution that is abnormally skewed against wage earners; excessive offshoring; corporate concentration leading to dominant positions; massive use of cheap fossil fuels; and a sharp rise in wealth inequality. We can try to correct these disorders one by one with appropriate public policies specific to each problem: profit-sharing policies in favour of wage earners and increases in the lowest wages; public aid for reshoring; stricter competition policies; high price of CO 2 driving the shift to renewable energies; increased taxation of capital and capital income. But we can also start from the fact that all these problems have a common cause: demand for a very high return on equity for shareholders, and we can then try to act on this common cause. To reduce the required return on equity, new categories of shareholders with more reasonable requirements must be developed: family shareholders, employees, public pension funds.