On Monday of this week the Business Roundtable, an organization which “represents chief executive officers (CEOs) of America’s leading companies,” published a new statement on the purpose of a corporation. The new statement, which was signed by 181 executives, explicitly states that “we share a fundamental commitment to all of our stakeholders” (emphasis mine). This is an important departure from the singular focus on shareholders as the focus that has dominated the American corporate landsca...

On Monday of this week the Business Roundtable, an organization which “represents chief executive officers (CEOs) of America’s leading companies,” published a new statement on the purpose of a corporation. The new statement, which was signed by 181 executives, explicitly states that “we share a fundamental commitment to all of our stakeholders” (emphasis mine). This is an important departure from the singular focus on shareholders as the focus that has dominated the American corporate landsca...