1. America’s CEOs Seek a New Purpose for the Corporation

    America’s CEOs Seek a New Purpose for the Corporation

    For Milton Friedman, it was simple. “There is one and only one social responsibility of business,” the Nobel economist wrote in 1970: to “engage in activities designed to increase its profits.” Companies must obey the law. But beyond that, their job is to make money for shareholders...

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    1. There is one and only one social responsibility of business.
    2. The paramount duty of management and of boards of directors is to the corporation's stockholders.
    3. Society gives each of us a license to operate.
    4. There were members who spoke up and were spirited.
    5. There was a huge outpouring of support.
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