Roberts on Business Responsibility
An excerpt from Russell Roberts:
"...She wanted to know if I thought the soft values should count, meaning, the virtue of keeping 100 families happy and intact or should you just go for the jugular and maximize profits.
I gave her a few answers. One of them was one that I give in my book, The Invisible Heart. It's OK to be charitable with your own money. It's not so virtuous to be generous with other people's money. A publicly traded business should maximize profits and let shareholders be charitable with those returns if they so choose. I also gave the other answer I gave in the book—that there is no such thing as "enough" profit. The world is highly uncertain and sacrificing profits in the name of "soft values" may end up destroying the company and putting everyone out of work."
Read entire at Cafe Hayek.