2min chapter

Bloomberg Businessweek cover image

The 21st Century Corporation

Bloomberg Businessweek

CHAPTER

The Evolution of Corporate Ethics and Legitimacy

This chapter explores the historical and social changes from the 1960s that led to a decline in corporate ethics and responsibilities. It examines key documents such as Friedman's 1970 article and the Powell memorandum, revealing how they shaped a corporate culture that favored efficiency over ethical considerations.

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