In the early 1970s, Milton Friedman argued that corporations should not be socially responsible because they had no mandate to be; they existed to make money, not to be charitable institutions. But in the economy of the 21st century, corporations cannot be socially responsible, if social responsibility is understood to mean sacrificing profits for the sake of some perceived social good. That's because competition has become so much more intense.
Robert ReichAmerica has become the most unequal society among advanced countries, and rich people are now free to spend as much money on political campaigns as they wish.
Robert ReichWell-trained and dedicated employees are the only sustainable source of competitive strength.
Robert ReichWe are creating a one size fits all system that needlessly brands many young people as failures, when they might thrive if offered a different education whose progress was measured differently. Paradoxically we're embracing standardized tests just when the economy is eliminating standardized jobs.
Robert ReichAnyone believing the TPP is good for Americans take note: The foreign subsidiaries of U.S.-based corporations could just as easily challenge any U.S. government regulation they claim unfairly diminishes their profits - say, a regulation protecting American consumers from unsafe products or unhealthy foods, investors from fraudulent securities or predatory lending, workers from unsafe working conditions, taxpayers from another bailout of Wall Street, or the environment from toxic emissions.
Robert Reich