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Politics : Formerly About Advanced Micro Devices
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To: puborectalis who wrote (941454)6/19/2016 11:10:28 PM
From: i-node  Read Replies (1) of 1574054
 
>> Do you agree with Friedman? Do businesses have any moral obligation to the general public beyond not being deceitful?

I agree 100% that business has absolutely zero obligation beyond that to its shareholders. Of course.

There are other stakeholders. But the company owes them nothing other than the debts they have created.

I have no problem if public companies, like Apple or CostCo, choose to do things for the public or their employees. Shareholders have the right to fire management if they aren't happy.

But of course there is no obligation other than shareholders interests. And that has been the law for a couple hundred years since the corporate form has been managed by states.

WHY WOULD I INVEST IN A COMPANY WHOSE ASSETS HAVE BEEN REDIRECTED TO ANY PURPOSE OTHER THAN RETURN ON MY INVESTMENT?
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