Mar 26
6 min read
Why Purpose Matters
When the Business Roundtable issued a statement in 2019 that discarded the old notion that the sole purpose of a business is to provide value to shareholders, many were dismayed. Some thought it was just another example of misguided altruism by “elites.” Others saw it as a cynical and disingenuous ploy.
Yet the primacy of shareholder value is hardly a well-established economic principle. The concept does not appear even once in…
