Charles E. Wilson, the CEO of General Motors in the middle part of the last century, reputedly once said that “what was good for our country was good for General Motors, and vice versa.”
The idea was that large corporations had a duty not just to their shareholders, but also to their employees, customers, and community. What was good for all of these stakeholders was inseparable from what was good for large corporations like GM.
But in the 1980’s, this shifted. The only goal of large corporations goal became maximizing profits and returns for shareholders.