Flying Blind: The 737 MAX Tragedy and the Fall of Boeing
by Peter Robison · 29 Nov 2021 · 382pp · 105,657 words
fray when Milton Friedman, the Reaganites’ favorite economist, argued what was then still the contrarian viewpoint in the New York Times Magazine in 1970: “The social responsibility of business is to increase its profits.” Fifty years later, communities are fragile, workers insecure, and families stressed. It isn’t hard to see the connection to a half century’s embrace
The Bank That Lived a Little: Barclays in the Age of the Very Free Market
by Philip Augar · 4 Jul 2018 · 457pp · 143,967 words
, 2010, p. 119 2. Courtaulds Textiles Annual Report 1990, p. 5 3. Owen, Rise and Fall of Great Companies, p. 184 4. Milton Friedman, ‘The social responsibility of business is to increase its profits’, New York Times Magazine, 13 September 1970. Management’s ‘responsibility is to conduct business in accordance with their [shareholders] desires, which generally will be to
The Quiet Coup: Neoliberalism and the Looting of America
by Mehrsa Baradaran · 7 May 2024 · 470pp · 158,007 words
, then we are concerned.”21 Two weeks after GM made its announcement, The New York Times Magazine ran an article titled “A Friedman Doctrine: The Social Responsibility of Business Is to Increase Its Profits.” On the page opposite Milton Friedman’s words, the Times placed a picture of James Roche at a podium under GM’s logo, with a
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United States, 1867–1960, 63 “Neoliberalism and Its Prospects,” xxxix, 46 “The Role of Government in Education,” 221 Friedman, Rose, 91 “Friedman Doctrine, A: The Social Responsibility of Business Is to Increase Its Profits,” 79–80 fringe lending, 212, 213, 215 Fritz, Harrison, 332 Frontera, Ernesto, 337 FTX, 342–45 Fukuyama, Francis, 38 Fuller, Lon L., 131–32 Furman
Competition Overdose: How Free Market Mythology Transformed Us From Citizen Kings to Market Servants
by Maurice E. Stucke and Ariel Ezrachi · 14 May 2020 · 511pp · 132,682 words
well-being. 49.Bates College, “Purposeful Work: Aligning Who You Are with What You Do,” https://www.bates.edu/purposeful-work/. 50.Milton Friedman, “The Social Responsibility of Business Is to Increase Its Profits,” New York Times Magazine, September 13, 1970, https://nyti.ms/2J9d0xS (the incentives are to use the company “resources and engage in activities designed to
Power and Progress: Our Thousand-Year Struggle Over Technology and Prosperity
by Daron Acemoglu and Simon Johnson · 15 May 2023 · 619pp · 177,548 words
that the “social responsibility” of business was misconstrued. Business should care only about making profits and generating high returns for their shareholders. Simply put, “The social responsibility of business is to increase its profits.” Friedman articulated an idea that was already in the air. The previous decades had witnessed stinging criticisms of government regulations and more voices in favor
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workflow inside an Amazon fulfillment center. 30. Digital surveillance with Chinese characteristics: a machine for checking social credit scores in China. 31. Milton Friedman: “The social responsibility of business is to increase its profits.” 32. Ralph Nader: “The unconstrained behavior of big business is subordinating our democracy to the control of a corporate plutocracy that knows few self-imposed
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.vox.com/2015/3/17/11560406/google-self-driving-car-chief-wants-tech-on-the-market-within-five. Friedman, Milton. 1970. “A Friedman Doctrine—the Social Responsibility of Business Is to Increase Its Profits.” New York Times, September 13. www.nytimes.com/1970/09/13/archives/a-friedman-doctrine-the-social-responsibility-of-business-is-to.html. Gaither, Sarah
Stolen: How to Save the World From Financialisation
by Grace Blakeley · 9 Sep 2019 · 263pp · 80,594 words
variety of stakeholders — workers, consumers, and governments for example. But with the rise of neoliberalism, the argument that — in the words of Milton Friedman — “the social responsibility of business is to increase its profits” gained traction.37 This view assumes that resources are scarce, so when companies use their resources in unproductive ways there are fewer to go around
Stakeholder Capitalism: A Global Economy That Works for Progress, People and Planet
by Klaus Schwab and Peter Vanham · 27 Jan 2021 · 460pp · 107,454 words
. It was the one put forth by University of Chicago economist and Nobel Prize winner Milton Friedman starting in 1970. He held that the “only social responsibility of business is to increase its profits”20 and that free markets are what matters above all else. (This is discussed further in Chapter 8.) The result was unbalanced growth. Economic growth
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, World Economic Forum, https://www.weforum.org/agenda/2019/12/davos-manifesto-1973-a-code-of-ethics-for-business-leaders/. 20 “A Friedman Doctrine—The Social Responsibility of Business Is to Increase Its Profits,” Milton Friedman, The New York Times, September 1970, https://www.nytimes.com/1970/09/13/archives/a-friedman-doctrine-the-social-responsibility-of-business-is
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/presidents/lyndon-b-johnson/ 42 Term coined in “Capitalism, Socialism and Democracy”, Joseph Schumpeter, Harper Brothers, 1950 (first published 1942) 43 “A Friedman Doctrine—The Social Responsibility Of Business Is to Increase Its Profits,” Milton Friedman, The New York Times, September 1970, https://www.nytimes.com/1970/09/13/archives/a-friedman-doctrine-the-social-responsibility-of-business-is
Evil Geniuses: The Unmaking of America: A Recent History
by Kurt Andersen · 14 Sep 2020 · 486pp · 150,849 words
Friedman, the University of Chicago libertarian economist, and published across five pages of The New York Times Magazine under the headline A FRIEDMAN DOCTRINE—THE SOCIAL RESPONSIBILITY OF BUSINESS IS TO INCREASE ITS PROFITS. Friedman had become famous during the 1960s, as the decade of free speech and anything-goes outlandishness made his outlandish ideas seem worthier of consideration
How Boards Work: And How They Can Work Better in a Chaotic World
by Dambisa Moyo · 3 May 2021 · 272pp · 76,154 words
Flows.” Review of Corporate Finance Studies (forthcoming). Last modified November 25, 2018. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=289516. Friedman, Milton. “The Social Responsibility of Business Is to Increase Its Profits.” New York Times, September 13, 1970. Fromm, Jeff. “How Much Financial Influence Does Gen Z Have?” Forbes, January 10, 2018. www.forbes.com/sites/jefffromm
The Golden Passport: Harvard Business School, the Limits of Capitalism, and the Moral Failure of the MBA Elite
by Duff McDonald · 24 Apr 2017 · 827pp · 239,762 words
. 41 The Subversive Nature of a Social Conscience In 1970, the economist Milton Friedman wrote an essay in the New York Times Magazine titled “The Social Responsibility of Business Is to Increase its Profits.” His argument was the opening salvo in what would come to be known as shareholder capitalism. Flouting the midcentury view (and that of the most
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Gospel According to the Harvard Business School, p. 67. Chapter 41: The Subversive Nature of a Social Conscience 1 Milton Friedman, “A Friedman Doctrine: The Social Responsibility of Business Is to Increase Its Profits,” New York Times Magazine, September 13, 1970. 2Eduardo Porter, “Motivating Corporations to Do Good,” New York Times, July 15, 2014, http://www.nytimes.com/2014
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, 246 Smith, Fred, 128 Smith, George, 289 Smith, Roger, 246 Snook, Scott, 439 Social Choice and Individual Values (Arrow), 275 Social Enterprise Initiative (SEI), 475 “Social Responsibility of Business Is to Increase its Profits, The” (Friedman), 360 “Social Significance of Business, The” (Donham), 433 Social Structure and Learning Climate (Orth), 398 Sokolow, Ira, 380 Sonnabend, Roger, 173, 185 Sony
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