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Maximizing shareholder value: The goal that changed corporate America
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The belief that shareholders come first is not codified by statute. Rather, it was introduced by a handful of free-market academics in the 1970s and then picked up by business leaders and the media until it became an oft-repeated mantra in the corporate world.
Across the United States, as companies continue posting record profits, workers face high unemployment and stagnant wages.
Driving this change is a deep-seated belief that took hold in corporate America a few decades ago and has come to define today’s economy — that a company’s primary purpose is to maximize shareholder value.
By Jia Lynn Yang
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Apple’s smackdown of climate skeptics is the latest in a new wave of corporate responsibility http://www.matr.net/article-59561.html
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