Search Results for: Milton Friedman

Financial and societal advantages of long-term strategy – the evidence

This article by John Mansfield, MI’s Global Lead on remuneration, first appeared on South Africa’s ‘Business Day’ The debate over the merits of short-termism versus long-termism has raged for many years but has now finally been put to bed. A … Continue reading

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Shareholder-centric governance model takes authority away from boards and managers

This article by John Mansfield, MI’s Global Lead on remuneration, first appeared on South Africa’s ‘Business Day’ Let’s not blame directors for not fulfilling their fiduciary duties and causing corporate failure. It’s not really their fault; they’re simply playing by … Continue reading

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Has Larry Fink just called time on profit maximisation?

Back in 1970, Milton Friedman helped to forge the current business paradigm by advising companies that profit maximisation and serving shareholders was what really mattered; and that by doing so, companies would be serving society too. After decades of myriad … Continue reading

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Cow gas, bull**** and Fortune Magazine’s social responsibility

Please note – this post contains some, intentional, strong language, which readers of a certain sensibility may find offensive. I had never before considered just how socially irresponsible cows could be until I came across Fortune Magazine’s ‘Change the World … Continue reading

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Human Governance: the ‘why’, the ‘what’, the ‘how’ & the ‘who’

The Why? The Maturity Institute (MI) was formed for a number of very sound reasons. One is recognition, shared with many other impartial observers, that there is something rotten in the state of capitalism.  That does not mean capitalism is … Continue reading

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Is the social responsibility of business to increase its profits?

This question has been a thorn in the side of capitalism ever since the corporation was invented; and one to which the Nobel prize-winning economist, Milton Friedman, set out a definitive answer in his seminal article of 1970[i].  Whether you … Continue reading

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US Roundtable’s statement: the full implications of ‘Total Stakeholder Value’ as corporate purpose.

“It’s almost astonishing… (BRT are) in effect coming right out and saying, ‘We’ve been wrong for the last 20 years…some folks in the BRT are recognizing there’s something unsustainable about an economy that’s all about shareholder primacy.  … it’s probably … Continue reading

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