End Corporate Privilege By Limiting Limited Liability Opinion
For critics like Marc Benioff of Salesforce, growing economic inequality and other social ills have exposed Friedman’s “myopia” and the need for “a new kind of capitalism—stakeholder capitalism, which recognizes that our companies have a responsibility to all our stakeholders” including not just customers and local communities but “the planet.” The eminent corporate lawyer Marty Lipton agrees, noting with approval that “the Friedman doctrine has been widely eroded, as a growing consensus of business leaders, investors, policymakers and leading members of the academic community have embraced stakeholder capitalism....