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roachboy · 09-27-2006, 03:33 PM

sorry about that
friedmanite refers to milton friedman.
the -ite part is an old trotskyist joke--if you like trotskyism, then the trot groups were trotskyists; if you didnt, then they were -ites.

anyway, according to milton freidman, a firm's only obligation is to increase shareholder profit.
he published an article about this in the nyt sunday magazine in 1970 and for some reason it caught on.

here's a link to the article:

http://www.colorado.edu/studentgroup...-business.html

stakeholder theory is a term from business ethics that tries to extend the notion of corporate responsibility beyond the shareholders (who remain stakeholders, just not the only ones) to include the communities affected by corporate actions.

09-27-2006, 03:33 PM	#61 (permalink)
roachboy Super Moderator Location: essex ma	sorry about that friedmanite refers to milton friedman. the -ite part is an old trotskyist joke--if you like trotskyism, then the trot groups were trotskyists; if you didnt, then they were -ites. anyway, according to milton freidman, a firm's only obligation is to increase shareholder profit. he published an article about this in the nyt sunday magazine in 1970 and for some reason it caught on. here's a link to the article: http://www.colorado.edu/studentgroup...-business.html stakeholder theory is a term from business ethics that tries to extend the notion of corporate responsibility beyond the shareholders (who remain stakeholders, just not the only ones) to include the communities affected by corporate actions. __________________ a gramophone its corrugated trumpet silver handle spinning dog. such faithfulness it hear it make you sick. -kamau brathwaite