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The Value and Virtues of Free Enterprise
['Stefan Padfield Is A Principal For The Free Enterprise Initiative', 'Senior Legal Fellow At The Heritage Foundation.', 'Follow On X']
The Daily Signal
Should corporations strive solely to maximize shareholder value?
If one assumes the answer is “yes”—whether for reasons of law, economics, or philosophy—is it even possible to maximize shareholder value based solely on expected value and return-on-investment calculations?
One day you are maximizing shareholder value; the next you are setting that value on fire in pursuit of net-zero goals.
Finally, it is important to note that defending free market capitalism against socialism does not undermine the importance of purpose and virtue.
Part of promoting free market capitalism includes defending the marketplace of ideas as capable of distinguishing truth from falsity and good ideas from bad ideas.