Friedman 50 Years Later

eBook: Milton Friedman 50 Years Later, a Reevaluation

Over the past couple of months, ProMarket has hosted a lively debate on whether Milton Friedman was right or wrong when he...

Friedman’s Legacy: From Doctrine to Theorem

Friedman was more right than his detractors claim and more wrong than his supporters would like us to believe. However, after 50...

The Purpose of Business is to Solve Problems of Society, Not to Cause Them

Claims that a stakeholder-focused system of corporate governance cannot succeed in the US are perverse because they take as given that corporations...

Can Institutional Investors Solve Societal Issues When Governments Fail to Do So?

A new study looks into the social costs associated with private prisons to show that privatization may come with social trade-offs when...

Bringing Ethics Back to Friedman’s Call to Purpose for the Next 50 Years

Fifty years ago, Friedman compellingly presented his argument for shareholder primacy. But as currently implemented, shareholder primacy threatens the unifying purposes that...

Milton Friedman and the Need for Justice

Milton Friedman predicated his shareholder value maximization credo on the strong implicit and explicit assumptions that the rules of society protect stakeholders...

There Is a Direct Line from Milton Friedman to Donald Trump’s Assault on Democracy

Milton Friedman believed that corporations have a social responsibility to play within the rules of the game. But corporations aren’t just players...

Strength in Numbers: Using Data to Track Diversity and Inclusion

Recent protests against racism and police brutality, along with the #MeToo movement, have increased pressure on businesses to measure and improve their...

Shareholder Value and Social Responsibility Are Not At Odds

Being socially responsible can, and frequently does, make good business sense. There are plenty of opportunities for companies to do well by...

A Challenge for Stakeholder Capitalism: Solving the Paradoxes of Voting

If corporations are to maximize shareholder welfare, managers need to discover what shareholders value; political theory shows how difficult this can be.

Latest news

“An Offer We Can’t Refuse”: How We Gave Away Our Data and Made Big Tech What It Is Today

WhatsApp’s new terms of service should come as no surprise. For years, Big Tech has been offering its users these “take it...

Paul Romer: “If You Think Moderation is Censorship, You’ve Got a Competition Problem”

During a Stigler Center keynote webinar, Nobel laureate Paul Romer discussed concentration problems in the US and possible solutions, including a “pigouvian”...

The “Next Frontier of Propaganda”: Micro-Influencers are Paid to Spread Political Messages, Disinformation

Online influencers aren’t in the business of promoting just products anymore. New research finds that micro-influencers are increasingly used to spread political...

Digital Markets Act: Policy Choices and Conditions for Success

Last month, the European Commission introduced an ambitious new set of rules for digital platforms, the Digital Markets Act. Here is what...

The Silent Coup

President Donald Trump's seditious actions are exposing the political power that Twitter, Amazon, Google, Apple, and Facebook enjoy. Banning him from their...

How Will the Digital Markets Act Regulate Big Tech?

While the recently introduced Digital Markets Act rules might change prior to final approval, there is a lot to consider already. What...

Covid-19 Aggravates Existing Income, Gender, and Race Inequalities, and Further Increases Political Divisions

Seventy percent of Americans know someone who tested positive; one in five know someone who died from coronavirus, survey shows.