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Management is not allowed to take a pile of money and just burn it for funsies. But the law does not require them to prioritize shareholder profits over literal
by UncleMeat 2y ago
Management is not allowed to take a pile of money and just burn it for funsies. But the law does not require them to prioritize shareholder profits over literally everything.
Shareholder Theory wasn't even a social norm in the US until the 70s!