3 ms·
Just to clarify, IANAL, but the "legally obligated to maximize profit" is a misinterpretation of Dodge vs. Ford[1]. It was a very radical decision for the time
by munk-a 3y ago
Just to clarify, IANAL, but the "legally obligated to maximize profit" is a misinterpretation of Dodge vs. Ford[1]. It was a very radical decision for the time and hasn't been rescinded but still allows executives a wide degree of freedom in decision making. Acting morally is often highly rational and, whether a maximally efficient decision or not, is, IMO, the correct decision - whether there are clear consequences for acting immorally or not.
1. https://en.wikipedia.org/wiki/Dodge_v._Ford_Motor_Co https://en.wikipedia.org/wiki/Dodge_v._Ford_Motor_Co.