The prosocial shareholder

How the Dominant Business Paradigm Turns Nice People into Psychopaths

It’s conventional wisdom in business circles today that corporate directors should “maximize shareholder value.” Corporations supposedly exist to serve shareholders’ interests, and not (or at least, not directly) those of executives, employees, customers, or the community. However, this shareholder-value dogma begs a fundamental question. What, exactly, do shareholders value? Most shareholder-value advocates assume that shareholders care only about their own wealth. ….[READ]

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