Reinventing capitalism
Can corporations change to prioritise society and the environment over profit?
Business Daily · BBC World Service
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Show Notes
Can corporations be repurposed to prioritise society and the environment over profit? Ed Butler discusses the question with BBC Business Editor Simon Jack, who says he sees signs of real change.
With a climate emergency upon us, many people in business and finance appear to be having a genuine change of heart about economist Milton Friedman's famous maxim that the corporation's sole purpose should be to maximise shareholder value. Perhaps corporations have other responsibilities too?
Among the capitalists talking this new talk are Stephen Badger, chairman of the giant family-owned US confectionary company Mars, and Alan Jope, chief executive of Anglo-Dutch consumer goods conglomerate Unilever.
(Picture: A cute piggy bank sits astride a large pile of coins; Credit: Petmal/Getty Images)