3 ms·
Wrong. For example: https://en.wikipedia.org/wiki/Dodge_v._Ford_Motor_Co https://en.wikipedia.org/wiki/Dodge_v._Ford_Motor_Co.
by NotYourLawyer 3y ago
Wrong.
For example: https://en.wikipedia.org/wiki/Dodge_v._Ford_Motor_Co https://en.wikipedia.org/wiki/Dodge_v._Ford_Motor_Co.
- ethanbond 3y agoThe ideology has existed since shareholders have. Dodge v Ford Motor is the nucleation point for it going mainstream. But it took a generation of lawyers and business leaders getting trained as if a Michigan court decision is gospel for that view to become dogmatic (Milton Friedman’s essay being the nail in the proverbial coffin decades later). And it has never reached actual legal obligation to maximize profits, which is the extreme view you hear a lot of today.