Good Business Needs Bad Lobbyists
It’s pretty popular these days to dump on Milton Friedman’s famous claim that the social responsibility of business is to increase profits. So far, though, Friedman's core argument that corporate managers should focus on making money for their shareholders seems to have withstood the assault. Yes, lots of people in business have other goals, and even big corporations often do better if they define their purpose as something other than just making lots of money. Overall, though, successful businesses are socially useful in the sense that they bring growth, prosperity and opportunities for personal fulfillment -- and the most obvious common thread linking successful businesses is that they are, you know, profitable.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.
- Trump, Presidential? Steph Curry Knows Better.
- 'Gaydar' Shows How Creepy Algorithms Can Get
- China Could Seize a Bit of the Skies
- More Sanctions, Fewer Insults Against North Korea
- Merkel's Lackluster Win Is Good for Germany
- In NFL Fight, Trump Embraces Political Correctness
- Melania Trump Has a Bully-in-Chief Problem