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Podcast: When business should take a stand

Podcast: When business should take a stand

"There is one and only one social responsibility of business," Nobel Prize-winning economist Milton Friedman famously declared more than 50 years ago. It is “to use its resources and engage in activities designed to increase profits so long as it.. engages in open and free competition without deception or fraud.”

Times have certainly changed, especially in the past two decades. Today, corporate leaders and brands know that they can't always follow Friedman's advice, and are expected to step forward and contribute to solving crises facing society. But there are often hazards in doing so. Walt Disney, Delta Airlines, and Larry Fink, Chairman, and CEO of BlackRock, have all faced harsh criticism for their public stands.


On this episode of "How do we Fix it," hosts discuss the hazards and opportunities for corporations and their leadership with the author, researcher, and facilitator Elizabeth Doty, Director of the Erb Institute's Corporate Political Responsibility at the University of Michigan. She suggests constructive ways for businesses to play a key role in countering hyperpartisanship and other divisions in society.

When Business Should Take a Stand. Elizabeth Doty

When Business Should Take a Stand. Elizabeth Doty

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Getty Images, PM Images

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Getty Images, Tasos Katopodis

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The Fulcrum strives to approach news stories with an open mind and skepticism, striving to present our readers with a broad spectrum of viewpoints through diligent research and critical thinking. As best we can, we remove personal bias from our reporting and seek a variety of perspectives in both our news gathering and selection of opinion pieces. However, before our readers can analyze varying viewpoints, they must have the facts.

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