Benefit Corporations

Milton Friedman Is Wrong

Dave Kinnear1-On Leadership

Not Legally, But . . . I think he has always been wrong, but then, legally, he was more right than I. Friedman once said in a 1970 NY Times Magazine article that “businesses’ sole purpose is to generate profit for shareholders.” The title of that article is “The Social Responsibility of Business is to Increase its Profits.” My understanding …