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The question was whether a corporation is legally obligated to maximize profit. I was pointing out that, as you also note, the actual purpose of the limited lia
by vannevar 4y ago
The question was whether a corporation is legally obligated to maximize profit. I was pointing out that, as you also note, the actual purpose of the limited liability of a corporation is to promote the public interest. Economic growth is one aspect of that interest, certainly, but it's not the only consideration. So corporations that give up short term profits to improve the environment or the well-being of their employees or the community are not shirking their legal obligation, they are living up to it.