Parts of it are even pretty recent. The Friedman Doctrine, for example. “a company’s social responsibility is to increase its profits and maximize shareholder value”. I call it the worst idea in capitalism. It’s what’s forcing companies to pollute and lie about it, to bribe politicians and to create misinformation campaigns. As long as it’s legal, it is their responsibility to do all of that.
The idea stems from 1970 and became popular during the 1980s. It is the most harmful idea in capitalism (which is not short of harmful ideas).
People forget that our economic system isn’t a law of nature. It’s a social construct, and can be changed just like any other.
@Dojan
Parts of it are even pretty recent. The Friedman Doctrine, for example. “a company’s social responsibility is to increase its profits and maximize shareholder value”. I call it the worst idea in capitalism. It’s what’s forcing companies to pollute and lie about it, to bribe politicians and to create misinformation campaigns. As long as it’s legal, it is their responsibility to do all of that.
The idea stems from 1970 and became popular during the 1980s. It is the most harmful idea in capitalism (which is not short of harmful ideas).