ArticleProMarket (Stigler Center, University of Chicago Booth School of Business)

What Stakeholder Capitalism Can Learn From Milton Friedman

ProMarket Contributors, 2020

https://www.promarket.org/2020/09/10/what-stakeholder-capitalism-can-learn-from-milton-friedman/

This article reexamines Milton Friedman’s shareholder primacy argument, suggesting that stakeholder capitalism can incorporate market discipline and accountability principles without abandoning broader societal obligations. It argues that profit-seeking must operate within competitive markets and legal frameworks that preserve democratic legitimacy and prevent capture.

Notes on Related Topics

Misalignment (A) – Highlights tension between shareholder primacy and societal stability.
Political Risk (A) – Warns against policy capture that undermines markets.

Back to showcase

More Resources

Articles (99)

Books (15)

Reports (109)

Tools (21)

Videos (116)

Presentations (2)

Websites (17)

Items per page

201 – 220 of 380 results showing

VideoCorporate Political Responsibility Taskforce

Using EN-Roads to Explore Why Companies Should Prioritize Climate Policy

Amy Gobel of ARC, 2023

VideoCorporate Political Responsibility Taskforce

Using the EN-Roads Simulator to Explore Why Companies Should Prioritize Climate Policy

Amy Gobel of ARC, 2023

VideoCorporate Political Responsibility Taskforce

Why Would Companies Support POST-MAP-ASK?

Christine Mahoney of the University of Virginia, 2023

VideoCorporate Political Responsibility Taskforce

Business’ Role in Reducing “Demand” for Polarization

Kristin Hansen of Civic Health Project with special guest Tara Leweling of Allstate, 2022

WebsiteAAA Framework for US Climate Policy Leadership

AAA Framework for US Climate Policy Leadership

AAA Coalition, 2022

Urges business to include climate policy advocacy aligned with their sustainability strategies. Advocates for science-based climate actions, including supporting legislation aligned with the 1.5°C temperature limit and achieving net-zero emissions by 2050, emphasizing the importance of lobbying efforts aligning with these objectives.

VideoCorporate Political Responsibility Taskforce

Addressing Disconnects Between CSR, Ethics, DEI, and Govt Affairs

Cecily Joseph, Board Director of MercyCorps, 2022

VideoCorporate Political Responsibility Taskforce

AI, Media Platforms and CPR in the 2024 Election

Katie Harbath, Former Director of Public Policy for Facebook, 2022

VideoCorporate Political Responsibility Taskforce

An Historical View of Corporate Political Rights & Influence

Adam Winkler and Vikramaditya Khanna, 2022

VideoCorporate Political Responsibility Taskforce

Business Areas to Revitalize Democracy

Bill Shireman of In This Together and Madeleine Para of Citizens Climate Lobby, 2022

VideoCorporate Political Responsibility Taskforce

Calls for CPR & Effective Management Responses

Josh Zinner of ICCR and John Keenan of AFSCME, 2022

VideoCorporate Political Responsibility Taskforce

Can Americans Really Collaborate?

Bill Shireman of In This Together & Madeleine Para of Citizens Climate Lobby, 2022

VideoCorporate Political Responsibility Taskforce

Can Americans Really Collaborate?

Bill Shireman of In This Together and Madeleine Para of Citizens Climate Lobby, 2022

VideoCorporate Political Responsibility Taskforce

Causes of Distrust of American Civic Institutions

Ciara Torres-Spelliscy and Kevin Johnson, 2022

VideoCorporate Political Responsibility Taskforce

Clean Energy Policy & CPR

Tyler Duvelis of The Conservative Energy Network, 2022

VideoCorporate Political Responsibility Taskforce

Clean Energy Policy Following the Midterm Elections

Tyler Duvelis of The Conservative Energy Network, 2022

VideoCorporate Political Responsibility Taskforce

Consequences and Impacts of Pro-Business Political Influence

Anat Admati and Jerry Davis, 2022

WebsiteCivic Alliance

Corporate Civic Playbook

2022

Civic Alliance assembled a robust playbook for companies to more representatively support a strong democracy. The playbook includes concepts to support one’s business case, questions to ask oneself in building an action plan, and concrete steps to better engage employees, consumers, and other stakeholders.

ReportPolicyLink

Corporate Performance Standards On Racial & Economic Equity

2022

This report argues that the private sector has an indispensable and influential role in achieving a future free of racial and economic inequality in the US. Outlines guidelines to help business leaders and stakeholders articulate the need for corporate priorities on equity.

VideoCorporate Political Responsibility Taskforce

Corporate Political Influence Today

Adam Winkler and Vikramaditya Khanna, 2022

ArticleHarvard Business Review

Corporate Political Spending is Bad Business

Dorothy S. Lund & Leo E. Strine, Jr., 2022

Strine and Lund argue that political spending hurts shareholder interests because it increases risks, is not transparent, and correlates with lower financial performance. They make the case that companies should either end all spending, obtain shareholder consent, or limit expenditures to PACs (which are strictly voluntary and have mandated disclosure).

Share.

Do you have a resource to recommend for The CPR Hub? Please reach out and we will review it for future updates!

Contact Us

Receive Updates from The CPR Hub

Learn about new tools, insights and events to help you consider how CPR can help your company, clients or members.

Stay in the loop.