Beyond "Unprecedented" Episode 05: A Shareholder-Stakeholder Smackdown
Download Transcript - Episode 05: A Shareholder-Stakeholder Smackdown (335 KB)
The belief that a corporation’s highest purpose is to maximize profits for its shareholders, first articulated by economist Milton Friedman, has guided corporate behavior for half a century. Now, the COVID-19 pandemic, the racial equity movement, and the climate crisis are amplifying calls for corporations to focus on employee welfare, social responsibility, and environmental sustainability. Can corporations please both shareholders and stakeholders?
In the fifth episode of Beyond Unprecedented”: The Post-Pandemic Economy, Eric Talley hosts a conversation with corporate governance experts Ira M. Millstein and Leo E. Strine Jr. to discuss the history of “shareholder primacy,” the source of the pressure on public companies to boost stock prices, and the role government should play in redirecting corporate priorities.
Ira M. Millstein Center for Global Markets and Corporate Ownership
Talley, Eric L.; Millstein, Ira M.; and Strine, Leo E. Jr., "Beyond "Unprecedented" Episode 05: A Shareholder-Stakeholder Smackdown" (2020). Beyond "Unprecedented". 6.