Revisiting Milton Friedman’s critique of stakeholderism
What did the Nobel laureate economist have to say on shareholder value against stakeholder value? In the past few years, 2019 in particular, corporate directors and chief executive officers have moved sharply away from Milton Friedman's thesis to favour shareholder value. But is this a blind a public relations move? Peter Coy, from Bloomberg Businessweek, revisits Friedman's 50-year-old criticism of 'stakeholderism', and what it could mean in today's world.
From Bloomberg Businessweek