That's infeasible in our economy. Generation of wealth is something that is needed and beneficial to society. Abolishing shareholders is not the answer. Having better politicians (i.e. not corrupt) to reign in capitalist markets to enforce moral behavior would be a better choice.
I think I'm leaning toward limited liability enables amoral/unethical behavior. I really would be open to considering extending corporate liability not just to the officers but to shareholders as well.
E.g., if a company is found liable for illegal toxic waste dumping, the company should be fined, the officers that approved / failed to curtail it should be liable, and shareholders should also be penalized... calculating proportions of the cleanup and penalties to assign based on corporate valuation, officers' salaries, and shareholders' stock values.
No doubt the process could get messy but everyone in that chain deserves a share of the blame, for having polluted, and for incentivizing it.
I can see a future where shareholders take an active auditing role in corporate operations to ensure they're not getting hung out to dry.
