I honestly have a more nuanced view. I do think that corporations can be structured and run in a societally responsible and helpful way; it’s just that they aren’t. And it’s because of Milton Friedman:
The sole objective, and only social responsibility, of corporate governance is to maximize shareholder value.
If we can get everyone to agree that that whole ideology is caustic to its very core, then we can get somewhere. Unfortunately, I don’t see the vast majority of existing large and profitable companies doing that.
Business consolidation has created a negative force against society. Capitalism works against the people it serves inevitably. It’s a bad system.
I honestly have a more nuanced view. I do think that corporations can be structured and run in a societally responsible and helpful way; it’s just that they aren’t. And it’s because of Milton Friedman:
If we can get everyone to agree that that whole ideology is caustic to its very core, then we can get somewhere. Unfortunately, I don’t see the vast majority of existing large and profitable companies doing that.