Milton Friedman was wrong: ‘social purpose’ can replace ‘shareholder capitalism’

By Bruce DeBoskey
Nearly 50 years ago, Milton Friedman launched the era of “shareholder capitalism.” At that time, the Nobel-Prize-winning economist admonished American business leaders that their only responsibility was to maximize profits. The world has changed a lot since then — for better and for worse. Some still espouse this theory.
According to Friedman and his proponents, social responsibility — and the purpose of building healthier, safer, fairer, environmentally