Corporate America's new role
The Story of Money
Manuela Saragosa
4.4 • 400 Ratings
🗓️ 5 September 2019
⏱️ 22 minutes
🧾️ Download transcript
Summary
The purpose of the US corporation has evolved over time, from Henry Ford's mission to benefit the carmaker's employees to Milton Friedman's essay on shareholder primacy. The FT's US business editor, Andrew Edgecliffe-Johnson, reports on the latest thinking, this time from America's largest business lobby, the Business Roundtable.
Read more on the idea of sustainable investing at ft.com/moralmoney
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Transcript
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| 0:00.0 | Am I missing anything? Is this the right decision? |
| 0:02.0 | Can I show this data? |
| 0:04.0 | Am I too late? |
| 0:05.0 | Find clarity in your investment decision-making. |
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| 0:11.0 | and regulatory alignment |
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| 0:21.1 | facts, not opinions. |
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| 0:26.6 | Visit clarity. |
| 0:28.0 | AI and take action today. |
| 0:30.1 | For as long as I can remember, the mantra has gone like this. A business's purpose has been to make money for its shareholders. |
| 0:38.0 | But just a few weeks ago, one of the largest U.S. business lobbies headed by none other than J.P. Morgan's Jamie Diamond himself? |
| 0:45.0 | Well, they discarded that idea. |
| 0:47.0 | Instead, they said a business was meant to consider the well-being of its employees, of its customers, of its community, alongside the pursuit of |
| 0:56.1 | profits. |
| 0:57.1 | Let's talk about that new mission statement from the Business Roundtable today, sparking a debate |
| 1:01.0 | about the purpose of a corporation and why |
| 1:03.1 | maximizing shareholder returns is no longer the main goal. |
| 1:06.7 | The nearly 200 CEOs that make up the business roundtable are redefining |
... |
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