2472. From profit to stakeholder: a tiny step for mankind.
douglasscarmichael.substack.com
Milton Friedman* had the idea that the purpose and only legal activity of business was to make a profit. The fact that businesses ate still incorporated by the state, not as a game platform with winners and losers, but for doing things the state couldn't. Early corporations were the Jesuits, The East India Company the Erie Canal, and the railroads. That has somewhat come apart and the modern corporation is seen in slightly, but not very much, broader terms.
2472. From profit to stakeholder: a tiny step for mankind.
2472. From profit to stakeholder: a tiny step…
2472. From profit to stakeholder: a tiny step for mankind.
Milton Friedman* had the idea that the purpose and only legal activity of business was to make a profit. The fact that businesses ate still incorporated by the state, not as a game platform with winners and losers, but for doing things the state couldn't. Early corporations were the Jesuits, The East India Company the Erie Canal, and the railroads. That has somewhat come apart and the modern corporation is seen in slightly, but not very much, broader terms.