4 ms·
This statement is a valid response, half a century on, to this statement by one Milton Friedman that the social responsibility of the corporation is to sharehol
by OliverJones 7y ago
This statement is a valid response, half a century on, to this statement by one Milton Friedman that the social responsibility of the corporation is to shareholders alone.
It's worth reading Friedman's September 1970 article. https://web.archive.org/web/20060207060807/https://www.colorado.edu/studentgroups/libertarians/issues/friedman-soc-resp-business.html https://web.archive.org/web/20060207060807/https://www.color... It's been around since shortly after the UNIX epoch!
It's wise to read critically the motives of some of originators of the Business Roundtable statement. Nevertheless it's an important response to the Friedman Doctrine. If businesses like Jamie Dimon's even consider adopting it, it's a consequential change.