Friedman’s shareholder doctrine is dead

In the on-going discussion on the purpose of the corporation, Jaap Winter (chairman of the advisory council of the Finance and the Common Good program) has written an article for Fortune Magazine. Together with Colin Mayer and Leo. E. Strine jr. he pleas for the legal enforcement of the “public benefit” (PBC) in corporate law, which could serve as an alternative to Friedman’s “the goal of business is profit”.

Read the whole article here.