Ethical Capitalism
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I’ll believe it when I see it
The bosses of 181 of the US’s biggest companies have changed the official definition of “the purpose of a corporation” from making the most money possible for shareholders to “improving our society” by also looking out for employees, caring for the environment and dealing ethically.
Instead of focusing solely on “shareholder primacy” (making as much money as possible for investors) the businesspeople have now pledged to “lead their companies for the benefit of all stakeholders – customers, employees, suppliers, communities and shareholders”.
The BRT’s new statement of purpose reads: “Americans deserve an economy that allows each person to succeed through hard work and creativity and to lead a life of meaning and dignity. We believe the free-market system is the best means of generating good jobs, a strong and sustainable economy, innovation, a healthy environment and economic opportunity for all.”
It is very old rhetoric of those snake oil salesmen. They have been brainwashing and doping the minds of the workers for many years with the same stupidity, and ironically many peoples believe it
“…some critics were sceptical, with Larry Summers, who served as US Treasury secretary under President Bill Clinton, saying there was no legal requirement on firms to change their approach. He told the Financial Times: “I worry the Roundtable’s rhetorical embrace of stakeholders is in part a strategy for holding off necessary tax and regulatory reform.”…”
“…“Americans mistrust companies to such an extent that the very idea of capitalism is now being debated on the political stage,” Sorkin asserts. “Populism has been embraced on both ends of the political spectrum, whether in the trade protectionism of President Trump or the social-net supremacy of Sen. Bernie Sanders.”…”
They are still at it
“…The bosses of some of the world’s biggest companies, including Apple and Amazon, have been told to put the planet before profits – not by environmental campaigners but by other multinationals…”
“…the B Corp movement describes itself as a “global movement of people using business as a force for good”…”
Milton Friedman ideas in Chile turned it into a paradise on earth. Just read about this statistic. This is the reason why they gave him a Nobel Prize
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