{"id":5308,"date":"2020-10-13T17:43:57","date_gmt":"2020-10-13T09:43:57","guid":{"rendered":"http:\/\/blog.rchss.sinica.edu.tw\/wwchu\/?p=5308"},"modified":"2020-10-13T17:44:39","modified_gmt":"2020-10-13T09:44:39","slug":"the-publics-business","status":"publish","type":"post","link":"https:\/\/blog.rchss.sinica.edu.tw\/wwchu\/?p=5308","title":{"rendered":"The public\u2019s business"},"content":{"rendered":"<h1><span style=\"font-family: 'Droid Sans', Arial, sans-serif;font-size: 14px\">by\u00a0<\/span><a href=\"https:\/\/www.socialeurope.eu\/author\/dani-rodrik\" rel=\"author\">Dani Rodrik<\/a><span style=\"font-family: 'Droid Sans', Arial, sans-serif;font-size: 14px\">\u00a0on\u00a0<\/span>13th October 2020, Social Europe<span style=\"font-family: 'Droid Sans', Arial, sans-serif;font-size: 14px\">\u00a0<\/span><\/h1>\n<blockquote class=\"wp-embedded-content\" data-secret=\"q5jN1YtTsf\"><p><a href=\"https:\/\/www.socialeurope.eu\/the-publics-business\">The public\u2019s business<\/a><\/p><\/blockquote>\n<p><iframe loading=\"lazy\" class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"&#8220;The public\u2019s business&#8221; &#8212; Social Europe\" src=\"https:\/\/www.socialeurope.eu\/the-publics-business\/embed#?secret=zCAiuFAg4f#?secret=q5jN1YtTsf\" data-secret=\"q5jN1YtTsf\" width=\"600\" height=\"338\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<p>Stakeholder capitalism\u2019 has been promoted to balance the market and society but ultimately the only solution is to make firms more democratic.<\/p>\n<p>Fifty years ago, Milton Friedman published an article in the\u00a0<em>New York Times<\/em>\u00a0that articulated what has come to be known as the\u00a0<a href=\"https:\/\/www.nytimes.com\/1970\/09\/13\/archives\/a-friedman-doctrine-the-social-responsibility-of-business-is-to.html\" rel=\"noreferrer noopener\" target=\"_blank\">Friedman doctrine<\/a>: \u2018the social responsibility of business is to increase its profits.\u2019 It was a theme he had developed in his 1962 book\u00a0<em><a href=\"https:\/\/press.uchicago.edu\/ucp\/books\/book\/chicago\/C\/bo18146821.html\" rel=\"noreferrer noopener\" target=\"_blank\">Capitalism and Freedom<\/a><\/em>, where he argued that the \u2018one and only\u2019 responsibility business owes to society is the pursuit of profits within the legal rules of the game.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>by\u00a0Dani Rodrik\u00a0on\u00a013th October 2020, Social Europe\u00a0 The public\u2019s business Stakeholder capitalism\u2019 has been promoted to balance the market and society but ultimately the only solution is to make firms more democratic. Fifty years ago, Milton Friedman published an article in the\u00a0New York Times\u00a0that articulated what has come to be known as the\u00a0Friedman doctrine: \u2018the social [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5,7],"tags":[],"class_list":["post-5308","post","type-post","status-publish","format-standard","hentry","category-reflections","category-international-economics"],"_links":{"self":[{"href":"https:\/\/blog.rchss.sinica.edu.tw\/wwchu\/index.php?rest_route=\/wp\/v2\/posts\/5308","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.rchss.sinica.edu.tw\/wwchu\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.rchss.sinica.edu.tw\/wwchu\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.rchss.sinica.edu.tw\/wwchu\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.rchss.sinica.edu.tw\/wwchu\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5308"}],"version-history":[{"count":2,"href":"https:\/\/blog.rchss.sinica.edu.tw\/wwchu\/index.php?rest_route=\/wp\/v2\/posts\/5308\/revisions"}],"predecessor-version":[{"id":5310,"href":"https:\/\/blog.rchss.sinica.edu.tw\/wwchu\/index.php?rest_route=\/wp\/v2\/posts\/5308\/revisions\/5310"}],"wp:attachment":[{"href":"https:\/\/blog.rchss.sinica.edu.tw\/wwchu\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5308"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.rchss.sinica.edu.tw\/wwchu\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5308"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.rchss.sinica.edu.tw\/wwchu\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5308"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}