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Friedman introduced the theory in a 1970 essay for The New York Times titled "A Friedman Doctrine: The Social Responsibility of Business is to Increase Its Profits". [2] In it, he argued that a company has no social responsibility to the public or society; its only responsibility is to its shareholders. [2]
[73] [74] [75] John Rawls postulated the difference principle which argued that "inequalities are justified only if needed to improve the lot of the worst off, for example by giving the talented an incentive to create wealth".
President-elect Donald Trump listens to Elon Musk as he arrives to watch SpaceX's mega rocket Starship lift off for a test flight from Starbase in Boca Chica, Texas, Tuesday, Nov. 19, 2024.
the Pareto principle, which requires any change such that all gain. the (strong) Pareto criterion, which requires any change such that at least one gains and no one loses from the change. In non-hypothetical contexts such that the compensation occurs (say in the marketplace), invoking the compensation principle is unnecessary to effect the change.
Health insurance industry officials remain uncharacteristically reserved in the aftermath of the fatal shooting of UnitedHealthcare (UNH) CEO Brian Thompson on Dec. 4. A week after the attack, the ...
In his first public response to the consumer outcry following the fatal shooting of one of his top executives, UnitedHealth Group CEO Andrew Witty said Friday that the US health system “is not ...
Headquarters of AIG, an insurance company rescued by the United States government during the subprime mortgage crisis "Too big to fail" (TBTF) is a theory in banking and finance that asserts that certain corporations, particularly financial institutions, are so large and so interconnected that their failure would be disastrous to the greater economic system, and therefore should be supported ...
The Vanguard Group, the country’s largest mutual fund provider, and BlackRock, the world’s largest asset manager, with over $11.5 trillion under its supervision, have the largest stakes in ...