I don’t accept this very narrow definition of corporate responsibility. All actors in society—corporate, individual, or otherwise—have at least the basic civic duty not to knowingly do mass harm to the republic. I don’t think the American experiment in freedom succeeds otherwise.https://twitter.com/oaklandishdude/status/1201196835433525248 …
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Corporate responsibility is actually inclusive in fiduciary responsibility to shareholders. It improves public opinion of the firm and has a correlation to outperform, especially among the younger generation.
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@facebook is basically gambling with shareholder equity when it toes the line of anti-trust, privacy, and disinformation. Myopic cash-ins for data mishandling and political speech will likely negatively hurt their bottom line in the long run.
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The crowd that approvingly says "corporations are people" want corporations to have the rights of people without the responsibilities.
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It is also wrong as a matter of law. Executives have many fiduciary responsibilities, but in the United States they _do not_ have one to maximize shareholder returns. That's simply a myth propagated for ideological reasons. See https://hbr.org/2014/06/the-price-of-wall-streets-power … andhttps://www.amazon.com/dp/B007PIZ8IO/ref=dp-kindle-redirect?_encoding=UTF8&btkr=1 …
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This is the problem with the current legal status of corporations: when they want to spew money all over our elections for their own benefit, they’re concerned corporate citizens; but when they’re asked to behave that way in other situations, they’re purely a legal construct.
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You’ve never read any of the finance textbooks assigned at universities then. They all drum into the heads of the financial leaders of tmrw that the bottom line/s’holder return is all that matters. This was mainstream gop orthodoxy for generations and its destroyed the planet.
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Facebook is essentially in league with the GOP to propagate their misinformation and propaganda because it generates "engagement", which generates ad revenue
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