Noted: Focusing on increasing shareholder value has not benefited society overall, said Joel Rogers, director of the Center on Wisconsin Strategy at the University of Wisconsin-Madison.
“The theory itself was wrong,” said Rogers, who also is a professor of law, political science, public affairs and sociology.
“Markets drive firms to be short-sighted and make insufficient investments in their workers and communities,” he added. “We know that. Unfettered markets are not the recipe for a happy society. That was the great Freidman lie.”