Lesson Plan: Analyzing Corporate Influence and Economic Myths

Objectives:

• Analyze the motivations and influence of large corporations and CEOs on government policy.
• Critique the idea of economics being purely objective and the concept of the “free market.”
• Discuss the tension between corporate interests and democratic principles/the common good.

Warm-up:

1. Quick Write:
   • Prompt: What comes to mind when you think of large corporations and CEOs? What role do you think they play in society and politics?
   • Activity: Students write their responses individually.
   • Share: Briefly share and discuss as a class.

Part I: The Corporate Agenda

1. Reading:
   • Read the article by Robert Reich, “Why is Trump cozying up to America’s most powerful business leaders?”
2. Discussion Questions:
   • What are the main arguments Reich makes about corporate tax cuts and deregulation?
   • Why do you think CEOs are advocating for policies that benefit themselves despite broader economic impacts?
   • Do you agree with Reich’s critique about CEOs prioritizing personal gain over democratic values? Why or why not?

Part II: Debunking Economic Myths

1. Video Summaries:
   • Watch video summaries on myths about economics being objective and the “free market.”
2. Discussion:
   • What are some problems with assuming economics is a purely objective field?
   • What issues exist with the idea of an unfettered “free market”?
   • How might these myths perpetuate corporate power and influence economic policies?

Extension Activity

1. Group Research:
   • Task: Divide students into small groups to research specific examples of corporate influence on government policy or economic myths in action (e.g., corporate lobbying, deregulation, or the effects of “free market” policies).
   • Presentation: Groups will present their findings and discuss how their example relates to the lesson’s main themes.

Background Information

• Robert Reich: Former US Secretary of Labor, professor of public policy at the University of California at Berkeley.
• Article Summary:
  • Corporate Tax Cuts: The Business Roundtable, an association of CEOs from America’s largest corporations, is lobbying to make Trump’s 2017 tax cuts permanent. These cuts primarily benefited corporations and the wealthy.
  • CEO Meeting with Trump: Over 80 CEOs, including those from Apple, JP Morgan Chase, and Walmart, met with Trump, who promised further tax cuts and deregulation if re-elected.
  • Economic Impact: Trump’s tax cuts significantly reduced corporate taxes, costing America $1.3tn and contributing to the national debt. Corporations used savings for stock buybacks rather than investments or wage increases.
  • CEO Motivations: Despite thriving under Biden with high corporate profits and low inflation, CEOs support Trump for potential additional tax cuts and deregulation, revealing a preference for personal gain over democratic principles.

Takeaways from the Article:

• The article critiques the apparent disconnect between CEOs’ public commitment to social responsibility and their private actions, prioritizing wealth over the common good. Robert Reich emphasizes the cynicism of America’s corporate elite in the face of democratic values.