Re:Is Automation Really to Blame for Lost Manufacturing Jobs?
by pjmorris on Friday September 07, 2018 @01:54PM
(#17936268)
Actually, shareholder value has only become an important emphasis in the past few decades.
> On August 12, 1981, Jack Welch made a speech at The Pierre in New York City called ‘Growing fast in a slow-growth economy’. This is often acknowledged as the "dawn" of the obsession with shareholder value. [0]
Milton Friedman's 1970 op ed in the NYT [1] arguing that profit is the primary social responsibility of a corporation has also been influential on executive thinking in this regard.
> On August 12, 1981, Jack Welch made a speech at The Pierre in New York City called ‘Growing fast in a slow-growth economy’. This is often acknowledged as the "dawn" of the obsession with shareholder value. [0]
Milton Friedman's 1970 op ed in the NYT [1] arguing that profit is the primary social responsibility of a corporation has also been influential on executive thinking in this regard.
[0] https://en.wikipedia.org/wiki/Shareholder_value
[1] https://www.nytimes.com/1970/09/13/archives/a-friedman-doctr...