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Stock-investment

Milton Friedman 50 Years Later: Looking Beyond Putting Profits First

Milton Friedman 50 Years Later: Looking Beyond Putting Profits First

Illustration by Elias Stein Fifty years ago, Milton Friedman declared that the social responsibility of a business is to boost profits. Trouble was that Friedman’s dictum, according to many, led to companies maximizing short-term profits while income inequality and global warming increased. Some 89% of companies disagreed with Friedman’s statement in a...

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Business Roundtable Elias Stein Friedman Milton Friedman Ronald Cohen Test of Corporate Purpose

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