One of the tests for whether companies are aligning themselves with a broader social engagement is the extent to which the doctrine of shareholder value loses credibility. I don’t think it’s going to be openly repudiated, but I suspect that, gradually, executives will stop making as much reference to it to justify their actions. It privileges one group, one constituency, over all the others, and it carries so much baggage now because it’s been so perverted and linked to short-term profits.
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