Corporations have no fiduciary duty to produce a profit. Thinking that they do has been attributed to Milton Friedman's 1971 NY editorial [0], but some argue th

Corporations have no fiduciary duty to produce a profit. Thinking that they do has been attributed to Milton Friedman's 1971 NY editorial [0], but some argue that the notion can't be pinned on him [1] It's more accurate to say that fiduciary responsibilities are to ensure the corporation doesn't violate the law and that the firm doesn't go out of business [2]. [0] 'The Social Responsibility of Business Is to Increase Its Profits', Friedman [1] https://openscholarship.wustl.edu/cgi/viewcontent.cgi?article=6540&context=law_lawreview https://openscholarship.wustl.edu/cgi/viewcontent.cgi?articl... [2] https://www.amazon.com/Shareholder-Value-Myth-Shareholders-Corporations/dp/1605098132 https://www.amazon.com/Shareholder-Value-Myth-Shareholders-C...