Why listen
Two competing ideas about what corporations owe society are reshaping how business gets done.
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In this episode
- What the Milton Friedman Doctrine actually demands of corporations
- Why some economists no longer trust capitalism's invisible hand
- The case for making community obligation a core business function
- How this debate affects people who feel left behind by the market
About this episode
If corporations are people, they’re awfully selfish human beings. The design of the business world has long been based on The Milton Friedman Doctrine, which says “the social responsibility of business is to increase its profits.” Some are pushing an alternative philosophy that insists corporations serve their communities. They don’t trust the “invisible hand” of capitalism, as once described by Adam Smith, to ever help Americans who themselves feel invisible.
About Not My Narrative
Every society runs on stories it mistakes for facts. In America, those stories shape who gets help, who gets blamed, and who is left out.
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