“The Environmental Protection Agency (EPA) did something extraordinary as a preface to revoking the Endangerment Finding—they revised how they evaluate air pollution rules by not counting the benefits of lives saved and illnesses avoided. The technical term for what disappeared is the ‘value of a statistical life’ (VSL)—previously measured at approximately $11.7 million per person. In its place? Nothing. Zero.”

“Capitalism is a simple bargain: you provide cash and in exchange you receive a share of ownership. Owning property comes with rights, the right to vote on who will represent you on the board of directors, the right to request and receive information needed to decide if you want to sell or buy more shares, and the right to have a dialogue with management to raise material concerns that affect the value of your asset.”

Corporate boards and management face a stark and defining choice this proxy season. Shifting political winds in Washington – and a retreat by the SEC from investor protection and enforcement – will offer companies what might seem like a ‘get out of jail free’ card.

But this proxy season and the three years that follow will be a litmus test for corporate America.

In recent remarks at the “Revitalizing America’s Markets” event, SEC Chair Paul Atkins laid out a plan that would fundamentally redefine what it means to be a public company in the United States.