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'Profits above all else' came primarily from three sources: 1) The 'Chicago School' emerging from the University of Chicago economics department, most active fr
by sydbarrett74 3y ago
'Profits above all else' came primarily from three sources:
1) The 'Chicago School' emerging from the University of Chicago economics department, most active from the 1950's to the 1970's, and of which Milton Friedman was the exemplar;
2) The 'Powell Memo' that corporate lobbyist and later Supreme Court Justice Lewis F. Powell wrote to the US Chamber of Commerce in 1971; and
3) The efforts of Robert Bork, who was a militant critic of antitrust regulation and believed that mergers and acquisitions were good because they always lowered prices for consumers, and led to the creation of greater shareholder wealth.