Drucker on private property and the modern corporation

This is the sixth in a series of essays on Peter Drucker’s early works. Peter Drucker recognized the revolutionary aspect of the corporate form. The older corporations wielded something close to sovereign authority as they essentially ruled the territory wherever they traded and planted. Continue Reading...

Samuel Gregg on the bankruptcy of woke capitalism

Should corporations hitch their businesses to leftist causes, such as suppressing the Betsy Ross flag? At Public Discourse, Acton Institute Director of Research Samuel Gregg writes that “woke capitalism feeds on deep confusion about the nature and ends of business.” Continue Reading...

Has the purpose of corporations changed?

In his influential 1962 book Capitalism and Freedom economist Milton Friedman promoted the position of shareholder primacy by declaring that a corporation has no real “social responsibility” to the public, since its only concern is to increase profits for the shareholders. Continue Reading...