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May 24, 2021 · This idea, dubbed the Friedman doctrine in the essay’s title, has influenced how generations of executives have defined the purpose of their companies. But in recent years, the doctrine has undergone a reexamination by businesspeople, activists, and academics.
Jun 26, 2013 · The origin of 'the world’s dumbest idea’: maximizing shareholder value: The idea got going with an article by Milton Friedman in the New York Times in 1970. The economic consequences were ...
- Steve Denning
Dec 7, 2017 · We feel obliged to intervene and clarify. We agree that Friedman believed that people maximize utility, not income. In fact, in his 1970 article in the New York Times Magazine, he writes that the desire of shareholders “generally will be to make as much money as possible.”.
Oct 7, 2020 · Fifty years ago the New York Times published an essay by Economist Milton Friedman which set out what became known as the Friedman Doctrine. The article set out the ideas that have been the basis of business practice, leadership, policy, and education ever since.
Mar 14, 2024 · Summary. Milton Friedman, along with Friedrich Hayek and Ludwig von Mises, was a prominent advocate of free market capitalism and played a significant role in shifting mainstream political economy toward neoliberalism.
Sep 14, 2020 · The essay, published in The New York Times Magazine on Sept. 13, 1970, was a call to arms for free market capitalism that influenced a generation of executives and political leaders, most notably Ronald Reagan and Margaret Thatcher.
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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.
