The goal of corporations should not be maximizing profit for shareholders
prosociallibertarians.substack.com
Back in 2019, the Business Roundtable, a nonprofit whose membership comprises most of the US’s top CEOs, issued a statement endorsing the view that the purpose of the business corporation is to deliver value to all stakeholders, not just to advance the interests of shareholders. The World Economic Forum, best known for hosting an annual winter meeting in Davos, Switzerland for bigwigs from business, international politics, and journalism, has also declared its allegiance to the stakeholder approach to corporate governance. Some advocates have celebrated these announcements as a shift toward a more enlightened form of capitalism.
The goal of corporations should not be maximizing profit for shareholders
The goal of corporations should not be…
The goal of corporations should not be maximizing profit for shareholders
Back in 2019, the Business Roundtable, a nonprofit whose membership comprises most of the US’s top CEOs, issued a statement endorsing the view that the purpose of the business corporation is to deliver value to all stakeholders, not just to advance the interests of shareholders. The World Economic Forum, best known for hosting an annual winter meeting in Davos, Switzerland for bigwigs from business, international politics, and journalism, has also declared its allegiance to the stakeholder approach to corporate governance. Some advocates have celebrated these announcements as a shift toward a more enlightened form of capitalism.