Elizabeth Warren has proposed one of the most important bills of the decade - the Accountable Capitalism Act.

Company directors would be explicitly instructed to consider the interests of all relevant stakeholders — shareholders, but also customers, employees, and the communities in which the company operates — when making decisions.
40 percent of the directors would be elected by the company’s workforce, with the other 60 percent elected by shareholders.
Corporate executives would be required to hold on to shares of stock granted to them for at least five years after they were received and at least three years after a share buyback.
Corporate political activity would require the specific authorization of both 75 percent of shareholders and 75 percent of board members.

These are badly overdue reforms, and the ideas behind them have long histories.

In the early 19th century, state legislatures issued corporate charters on a case-by-case basis to corporations that demonstrated that the special privilege of a charter was essential to the public good.

"The public good". Even the federal government doesn't do that anymore, much less corporations.
As for putting workers on the board, this already done in Europe.
In Denmark, any company with 35 employees needs worker representation on the board. In Germany, any company with more than 2,000 employees needs a board that is half elected by workers.

The claim that Denmark is somehow proof that a gentler socialism is preferable to free-market capitalism simply doesn't hold water. Denmark has quite a free-market economy, apart from its welfare state transfers and high government consumption. https://t.co/KF1YIcOZws pic.twitter.com/Oghj6QluPf

— Cato Institute (@CatoInstitute) 14 August 2018

Imagine that, workers having a say in things like how a factory is run, executive pay, and whether to offshore their jobs.
As proof of how needed these reforms are, check out the reaction.

Sen. Elizabeth Warren (D–Mass.) thinks she knows what ails capitalism: There aren't enough people telling the biggest businesses what to do.

Try to contain your surprise that Warren believes the profit motive is ruining capitalism. She wants the largest corporations in the United States to be legally answerable to people other than their shareholders, and she's introducing a bill to force it.
...
Warren says she wants American corporations to be looking out for "American interests." They are. They're just not always the same as Warren's political interests. She doesn't grasp the difference.

The hubris reminds me of how the aristocrats viewed the demand of the peasants of a republic.
Or African colonies wanting independence. Or women wanting to vote.
"They are like children. They can't control their own lives."

And it gets worse.

Warren’s proposal is dishonestly called the “Accountable Capitalism Act.” Accountable to whom? you might ask. That’s a reasonable question. The answer is — as it always is — accountable to politicians, who desire to put the assets and productivity of private businesses under political discipline for their own selfish ends...
Senator Warren is many things: a crass opportunist, intellectually bankrupt, personally vapid, a peddler of witless self-help books, etc.

Liars never believe anyone. Thieves think that everyone steals.

Senator Warren’s proposal entails the wholesale expropriation of private enterprise in the United States, and nothing less. It is unconstitutional, unethical, immoral, irresponsible, and — not to put too fine a point on it — utterly bonkers.

Nothing less than the wholesale expropriation of private enterprise in the United States? Did this guy even read the bill? It seems unlikely.

But the best reaction of all is "We are doing an excellent job. Just ask us."

In principle, Warren's ideas sound good, but they are based on a flawed premise. She contends that CEOs and boards are following Nobel-Prize winning economist Milton Friedman's philosophy of maximizing shareholder value.

Warren's proposed legislation would require corporations to be federally chartered and consider the interests of all major stakeholders....Warren's Op-Ed piece and her legislation are based on the belief that CEOs have abandoned all stakeholders other than shareholders.

Gee, where would Warren get that idea? Hmmm. It sure is a puzzler.

Why would we fill boards of directors with front-line employees with limited experience in corporate governance?

Most public company board members are former CEOs or executives who have run major companies with thousands of employees who recognize the importance of a healthy culture and committed employees that are treated fairly. Annual employee surveys give them data to assess the health of the culture. They are accustomed to making complex decisions involving tradeoffs, especially when a crisis arises.

"Annual employee surveys give them data"?
These executives have absolutely no contact with their employees, and thus no idea how their companies actually run.
I think we all know what "complex decisions involving tradeoffs when a crisis arises" means.
Layoffs leading to executive bonuses.