Shareholder Primacy vs Stakeholder Capitalism
Friedman doctrine against the Business Roundtable 2019 restatement and the ESG backlash that followed
The contested question is who a firm is FOR; the answer determines whether a cost is a liability to minimise or an obligation to absorb.
Apprised applies this doctrine as an interpretive frame: what does a reader working from these premises see in today's events? It is a live and contested position — a frame everyone agreed with would explain nothing — so each brief is asked to say where the doctrine and the desk's own read part company.
What it reads
buybacks and executive pay, labour disputes, ESG mandates and anti-ESG legislation, insurer conduct, corporate political spending
Recent applications
No applications of this doctrine in the last 10 days of briefs. Each desk is offered a rotating subset, and applies only the doctrines that genuinely illuminate the day.