For Lawyers | Log In | Join | Upload
WORKING... advanced

Where Did Social Enterprise Come From, Anyway?

Businesses, even those outside the realm of greedy corporate drones, are designed to earn a profit. Other priorities, like environmental sustainability or job creation, are reached only through happy accidents or marketing ploys to help companies make more money. Surely, if you’re raking in the dough, you can’t be making a difference—at least not on purpose.

This outdated vision of commerce has multiple origins, but if asked, most students of social enterprise will point an accusing finger at Milton Friedman’s 1970 New York Times Magazine essay “The Social Responsibility of Business is to Increase Its Profits.” Friedman’s point (though slightly more nuanced than the title or its interpretation might suggest) was that corporate executives have a responsibility to maximize profit. Frittering away money on other objectives—say, fighting poverty—would cheat stockholders, employees, and customers out of cash that is rightfully theirs.


LOADING PDF: If there are any problems, click here to download the file.

Published In: Finance & Banking Updates, Tax Law Updates, Business Organization Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© The Law Offices of Marc J. Lane, a Professional Corporation | Attorney Advertising

×

Expand Your Reach

JD Supra gets your content noticed, increases your visibility and makes your marketing efforts hassle free...

Learn More  or  Schedule a demo