If we truly had efficient markets in which there were no externalities, in which there was no despoiling of public goods, in which there was perfect information and people weren’t allowed to deceive and cheat, then I think the Friedman argument would work. I believe Friedman is very aware of that and wasn’t saying, “Oh, just maximize shareholder, value no matter what the situation.”
Content: Quotation
Author: Jonathan Haidt
Source: Knowledge@Wharton
Subjects: Economics, Social Responsibility (ESG)
Author: Jonathan Haidt
Source: Knowledge@Wharton
Subjects: Economics, Social Responsibility (ESG)
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