In his 1970 essay for the NYT “A Friedman Doctrine: The Social Responsibility of Business Is to Increase Its Profits,” Milton Friedman argued that “a company has no social responsibility to the public or society; its only responsibility is to its shareholders.” Prior to that corporations considered their stakeholders to be their customers, their workers, the community, and, finally, their shareholders.
With the sociopathic Friedman Doctrine, corporations selected out for CEOs that were sociopathic. “Greed is Good.”
In his 1970 essay for the NYT “A Friedman Doctrine: The Social Responsibility of Business Is to Increase Its Profits,” Milton Friedman argued that “a company has no social responsibility to the public or society; its only responsibility is to its shareholders.” Prior to that corporations considered their stakeholders to be their customers, their workers, the community, and, finally, their shareholders.
With the sociopathic Friedman Doctrine, corporations selected out for CEOs that were sociopathic. “Greed is Good.”