3 ms·
You probably didn't read the essay I linked? It shows through numerous court decisions that maximizing shareholder profit is the legal duty. Yes, there's a lot
by jampekka 3y ago
You probably didn't read the essay I linked? It shows through numerous court decisions that maximizing shareholder profit is the legal duty.
Yes, there's a lot of leeway for HOW to maximize the profit and on what timescale, but the purpose still has to be profit maximization. For example a court ruled against Henry Ford rising workers' wages for the benefit of the workers and the society.
I don't really understand why people struggle with this IMHO plain fact that for-profit is for-profit. Maybe it challenges the idea that "free market" will benefit us all?
https://www.wakeforestlawreview.com/2012/04/our-continuing-struggle-with-the-idea-that-for-profit-corporations-seek-profit/ https://www.wakeforestlawreview.com/2012/04/our-continuing-s...