Quote:
Originally Posted by Platapus
When was this? When has a corporation made a decision that is better for the average American to the detriment of the business owners/stockholders?
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Well he says that, directly after your quote:
“The job of management,” proclaimed Frank Abrams, chairman of Standard Oil of New Jersey, in 1951, “is to maintain an equitable and working balance among of the claims of the various directly interested groups… stockholders, employees, customers, and the public at large.”
By paying good wages, investing in future products, and generating reasonable (not “maximized”) profits, American companies in the 1950s and 1960s created value for all of their constituencies, not just one. As a result, the country and economy boomed."
Of course, i have not been around in those days, but to me it seems economy and common sense were much stronger at that time, with a better positive situation (?)