Send us a text In 1970, economist Milton Friedman declared that the only social responsibility of business is to increase profits. Half a century later, his doctrine still shapes our economy, our politics, and our daily lives. But what does “profit first” really mean for workers, communities, and democracy? In this episode of American Socrates, we dig into Friedman’s famous essay and its consequences. We explore how corporations gained legal power as “agents” of shareholders, why critics like...
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Send us a text In 1970, economist Milton Friedman declared that the only social responsibility of business is to increase profits. Half a century later, his doctrine still shapes our economy, our politics, and our daily lives. But what does “profit first” really mean for workers, communities, and democracy? In this episode of American Socrates, we dig into Friedman’s famous essay and its consequences. We explore how corporations gained legal power as “agents” of shareholders, why critics like...
Send us a text In this episode of American Socrates, we explore the myths about poverty in the United States. Poverty isn’t caused by laziness or bad choices—it’s built into the system. From outdated government definitions of poverty to wage stagnation, skyrocketing housing and healthcare costs, and the decline of unions, we break down the forces that trap millions of Americans in struggle. We expose how both Republicans and Democrats have gutted safety nets, how race and gender inequalities ...
American Socrates
Send us a text In 1970, economist Milton Friedman declared that the only social responsibility of business is to increase profits. Half a century later, his doctrine still shapes our economy, our politics, and our daily lives. But what does “profit first” really mean for workers, communities, and democracy? In this episode of American Socrates, we dig into Friedman’s famous essay and its consequences. We explore how corporations gained legal power as “agents” of shareholders, why critics like...
