There is a new eBook published by the Stigler Center which is an offshoot of the Booth Business School at the University of Chicago. The publication contains a number of short essays either attacking or defending the infamous pronouncements by Milton Friedman on the role of the corporation. This year, you may recall, is the 50th anniversary of the newspaper article in which Friedman described his view that the purpose of the corporation is too maximize shareholder value. The subsequent decades have seen that view permeate the business and legal systems such that to argue against it is seen as oddball in the extreme....
The Radford Free Press
The Firm, Yet Again
Peter Radford
1 comment:
Imagine, if you can, Tom, that corporations were equally owned by all citizens?
Then wouldn't corporations be entirely democratic?
Then why do you support government privileges for banks, a means by which equity owners can bypass the need to share that equity?
Anti-democratic much, Tom?
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