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by gadders 1340 days ago
https://en.wikipedia.org/wiki/Friedman_doctrine

"there is one and only one social responsibility of business—to use its resources and engage in activities designed to increase its profits so long as it stays within the rules of the game, which is to say, engages in open and free competition without deception or fraud."

In a way, you could call this the Corporate/Investing equivalent of effective altruism. Generate as much profit as possible and let employees/shareholders use that cash to support the causes they choose.

1 comments

If the company kills people in the process of generating as much profit as possible, it should be stopped. You are saying it should be stopped by the 'rules' which clearly means that governments should be forcing rules that focus on the ESG objectives? That seems like a dangerous path to walk. Any intelligent business manager knows that it is better to act early and in ways you choose than to be forced down a road you don't want later.
As opposed to what?

Having the companies pretend to go woke and stop killing people? Self regulating for profit entities that are socially responsible.

In what world would that work. Regulations exist for a reason.