“There is little room for optimism, and well-meaning statements of principles are rarely worth the paper they’re written on. But for the men and women who began their managerial careers when Friedman’s pernicious principles were pretty much law, a change like this should at least lead to reflection and a much-needed change in attitude.”

I seem to recall that except for benefit corporations, directors of corporations can be sued by shareholders if they don’t attempt to maximize profit while maintaining stability. The revised goals would have to be approved by the board of directors and shareholders before they could be implemented without director liability. Thirty-five states authorize benefit corporations which is the type of business suitable for the revised goals. It would be very disruptive for a corporation to convert from max-profit motivation to humanitarian motivation. Many shareholders would want to sell their shares before such a transition.