, a nonprofit that tracks and ranks corporations on stakeholder performance issues of greatest importance to the public.
Whittaker says a powerful theory like total stakeholder return can reshape business as we know it, rebuilding "healthier companies and a more robust economy."Fifty years of shareholder primacy has generated an enormous amount of wealth for many people and thrust corporate America to the commanding heights of the global economy.
We're still talking about that essay, though, because not long after it was published, corporate profits slowed and the United States' trade deficit increased. Even though Friedman's ideas had been around for decades, America was finally primed to give his laissez-faire approach a try. It stuck. That thinking may have struck a chord in 1970. In today's competitive environment, however, it is manifestly short-sighted — improving your workers' quality of life is tied directly to increased productivity and adopting climate-friendly technology can cut energy costs and drive new revenue lines.
It's also no surprise that when attacks on the stakeholder model come, they are often based on a misunderstanding of what stakeholder capitalism stands for and what it's trying to accomplish.Lucian Bebchuck and Roberto Tallarita Enshrined within a new operating framework, this would put stakeholder capitalism on a practical, solid foundation and ensure the metrics used to measure it are actually producing positive outcomes for each stakeholder.
MWhittaker_
MWhittaker_ Actually we need to go back towards capitalism.
MWhittaker_ Socialism not
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