You are here

CFA SINGAPORE INSIGHTS

Stakeholder capitalism: Separating the genuine from the fake

To be seen as credible, businesses must proportionally invest resources across the firm, and pre-commit to measurable objectives

MILTON Friedman versus Klaus Schwab - it was a battle between two worldviews.

In 1970, Friedman wrote his seminal essay on the role of the firm, effectively arguing that the "business of business is business" and that wider stakeholder considerations can be value-destructive.

In...