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May 24, 2021 · Marcus O. Painter of St. Louis University analyzed how customers reacted to the changes. Using geolocation data from smartphones, he finds customer visits to Walmart stores declined 3.3 percent compared with local rivals following the announcement.
Dec 7, 2017 · Nobel Laureate Oliver Hart of Harvard and Chicago Booth’s Luigi Zingales reject the view that shareholders care only about money.
This paper seeks to add fresh and compelling new evidence of why Lynn Stout was correct in her resolute critique of the thesis of shareholder primacy at the heart of the Friedman doctrine, and how this doctrine remains profoundly damaging to the corporations that continue to uphold this belief.
No popular idea ever has a single origin. But the idea that the sole purpose of a firm is to make money for its shareholders got going in a major way with an article by Milton Friedman in the...
Dec 8, 2022 · President Kennedy sought to thwart US Steel’s price hike due to his belief-commonly held at the time but now widely regarded as mistaken (e.g., Friedman, 1992)-that inflation is caused by corporate overpricing (i.e., cost push), rather than an increase in the money supply.
Oct 13, 2020 · The problem was that in the New York Times piece, Friedman’s idea was not stated as theorem, but literally as a “doctrine,” triggering a religious reaction, rather than a more balanced academic response. Five decades later, it is important to fix this mistake and restate Friedman as a theorem.
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Nov 27, 2006 · What were Friedman's main ideas? There are three key areas. First, the permanent income' hypothesis, set out in 1957's Theory of the Consumption Function.
