Minority Shareholder Oppression? The Problem Is Not with the Answer, But Rather with the Question
7 Pages Posted: 21 Aug 2014
Date Written: August 19, 2014
Abstract
I submit that the classic formula under which the “oppression” of minority shareholders and members is framed is a clear instance of a failure to critically consider the question before proceeding on to the answer.
In a class that I can no longer identify, we were told to imagine a man or woman leaning over a maze being navigated by a rat. Th e man or woman was to be wearing a lab coat and holding a stop watch with which the rat’s progress from beginning to end was being timed. Th e professor’s question was then presented — “What do we know from this scene?” After disposing of the obvious responses someone finally hit upon the response being sought, namely that the person holding the stopwatch thinks it important how quickly the rat can traverse the maze.
This is a lesson that has stuck with me, it illuminating the importance of examining the question rather than simply formulating a correct response thereto. When we undertake that step we can identify either failed premises or prejudices that are implicit in the question that will be, if not challenged, allowed to permeate the answer. When we fail to take this analytic step, we can inadvertently address the wrong question. It is entirely possible that how quickly the rat can navigate the maze is entirely irrelevant.
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