Views On The Role of Business Are Shifting Again

Prior to the 1980s (Specifically the post world war two era), there was a belief that business had a higher purpose than generating profits. This somewhat cyclical debate about the role of business is back again. Business in the post-war era served a broad set of stakeholders, not just the shareholder. Early business corporations formed in the late eighteenth and early nineteenth centuries were created specifically to create roads, canals, railroads, and banks. There was a focus on service, not maximizing investment returns. In these periods, business focused on stakeholder capitalism. Investopedia defines it this way:

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