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Published by:
Institute for Management Development (IMD) (2020)
Version:
19.05.2020
Revision date:
08-Jun-2020
Length:
3 pages
Data source:
Published sources

Abstract

This mini case sets up a debate about capitalism. Milton Friedman, in 1970, shared his view of the social responsibility of business to be increase its profits. This contrasts with Blackrock's Larry Fink, who in 2018, 2019, and 2020 announced the era of purposeful capitalism. The case gets participants to think about stakeholder capitalism to meet societal demands. The key question posed at the end of the case is if there was a debate Fink meets Friedman, who has got it right for the future?

Topics

Strategy; Business; Society; Capitalism; Purposeful capitalism; Environmental social and governance; Environment; Purposeful organization; Business-society collaboration

Setting

The events covered by this item took place in 1970-2020.

Geographical setting

Region:
World/global

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