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 Gross Domestic Product tracks how much stuff we produce—but does it tell us how well we’re doing? In this episode of American Socrates, we question the dominance of GDP as our society’s main scoreboard. Through a powerful personal story and a clear-eyed breakdown of alternative metrics—from the Human Development Index to Gross National Happiness—we expose how GDP hides inequality, erases care work, and confuses growth with well-being. What if success meant more than just making...
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...
